Geode Capital Management LLC Has $115.02 Million Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Geode Capital Management LLC lessened its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 726,720 shares of the company's stock after selling 14,011 shares during the period. Geode Capital Management LLC owned approximately 2.34% of Nexstar Media Group worth $115,020,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NXST. Pacer Advisors Inc. increased its stake in shares of Nexstar Media Group by 27,180.2% in the fourth quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company's stock valued at $190,650,000 after purchasing an additional 1,202,453 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Nexstar Media Group by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,102,126 shares of the company's stock valued at $174,103,000 after purchasing an additional 18,675 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Nexstar Media Group by 5.0% during the fourth quarter. Bank of New York Mellon Corp now owns 403,728 shares of the company's stock valued at $63,777,000 after purchasing an additional 19,116 shares in the last quarter. Norges Bank bought a new position in Nexstar Media Group in the 4th quarter valued at about $44,460,000. Finally, Boston Partners lifted its stake in shares of Nexstar Media Group by 1.6% in the 4th quarter. Boston Partners now owns 277,297 shares of the company's stock worth $43,656,000 after acquiring an additional 4,457 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Remove Ads

Nexstar Media Group Trading Up 0.3 %

Shares of NXST stock traded up $0.41 during trading hours on Monday, reaching $152.40. 23,858 shares of the stock traded hands, compared to its average volume of 368,167. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The firm has a market capitalization of $4.65 billion, a PE ratio of 8.81, a PEG ratio of 0.45 and a beta of 1.09. Nexstar Media Group, Inc. has a 1-year low of $143.32 and a 1-year high of $191.86. The business has a fifty day moving average price of $163.71 and a 200 day moving average price of $164.21.

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

Nexstar Media Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given a $1.86 dividend. This is an increase from Nexstar Media Group's previous quarterly dividend of $1.69. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.44 dividend on an annualized basis and a yield of 4.88%. Nexstar Media Group's dividend payout ratio is presently 34.56%.

Insider Activity

In related news, CEO Perry A. Sook sold 32,096 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 806,019 shares of the company's stock, valued at approximately $137,563,262.73. This trade represents a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew Alford sold 3,768 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.98, for a total transaction of $685,700.64. Following the completion of the sale, the insider now directly owns 5,405 shares of the company's stock, valued at $983,601.90. This represents a 41.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,105 shares of company stock worth $6,722,463 in the last ninety days. Corporate insiders own 6.30% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on NXST. Barrington Research reiterated an "outperform" rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Loop Capital raised Nexstar Media Group from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $190.00 to $200.00 in a research note on Friday, February 28th. Guggenheim raised their target price on Nexstar Media Group from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Friday, February 28th. StockNews.com lowered Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $200.00 price target on shares of Nexstar Media Group in a report on Monday, March 10th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $208.43.

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.