Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Fmr LLC

FMR LLC cut its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 16.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 978,328 shares of the company's stock after selling 197,839 shares during the period. FMR LLC owned approximately 3.15% of Nexstar Media Group worth $154,547,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Stifel Financial Corp lifted its position in shares of Nexstar Media Group by 136.8% during the third quarter. Stifel Financial Corp now owns 30,355 shares of the company's stock worth $5,019,000 after purchasing an additional 17,535 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Nexstar Media Group by 2.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,188 shares of the company's stock valued at $2,015,000 after buying an additional 310 shares in the last quarter. Barclays PLC boosted its position in Nexstar Media Group by 16.8% in the 3rd quarter. Barclays PLC now owns 45,051 shares of the company's stock valued at $7,448,000 after buying an additional 6,475 shares during the period. Sunbelt Securities Inc. grew its stake in Nexstar Media Group by 39.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,092 shares of the company's stock worth $181,000 after acquiring an additional 307 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its stake in Nexstar Media Group by 22.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 964 shares of the company's stock worth $159,000 after acquiring an additional 174 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Nexstar Media Group Stock Up 0.2 %

Shares of NASDAQ:NXST traded up $0.31 during trading on Friday, reaching $147.50. The stock had a trading volume of 279,689 shares, compared to its average volume of 370,396. The firm's 50-day simple moving average is $163.53 and its 200 day simple moving average is $163.80. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a one year low of $143.32 and a one year high of $191.86. The company has a market capitalization of $4.50 billion, a P/E ratio of 8.53, a PEG ratio of 0.45 and a beta of 1.09.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.22 by ($1.66). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The firm had revenue of $1.49 billion during the quarter, compared to analysts' expectations of $1.48 billion. As a group, research analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a $1.86 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This is a boost from Nexstar Media Group's previous quarterly dividend of $1.69. This represents a $7.44 dividend on an annualized basis and a yield of 5.04%. Nexstar Media Group's dividend payout ratio (DPR) is 34.56%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Guggenheim increased their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Rosenblatt Securities restated a "buy" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Monday, March 10th. Barrington Research reaffirmed an "outperform" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Benchmark raised their target price on shares of Nexstar Media Group from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Finally, StockNews.com cut shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $208.43.

Insiders Place Their Bets

In other news, CEO Perry A. Sook sold 32,096 shares of Nexstar Media Group stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $170.67, for a total transaction of $5,477,824.32. Following the completion of the sale, the chief executive officer now directly owns 806,019 shares in the company, valued at approximately $137,563,262.73. The trade was a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Andrew Alford sold 3,768 shares of the company's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total value of $685,700.64. Following the completion of the transaction, the insider now directly owns 5,405 shares in the company, valued at approximately $983,601.90. The trade was a 41.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,105 shares of company stock valued at $6,722,463. 6.30% of the stock is currently owned by corporate insiders.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.