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

HighTower Advisors LLC cut its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 34.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 78,977 shares of the company's stock after selling 42,174 shares during the period. HighTower Advisors LLC owned approximately 0.25% of Nexstar Media Group worth $12,476,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Brooklyn Investment Group acquired a new stake in Nexstar Media Group during the third quarter worth about $25,000. SBI Securities Co. Ltd. acquired a new stake in Nexstar Media Group during the fourth quarter worth about $25,000. True Wealth Design LLC acquired a new stake in Nexstar Media Group during the third quarter worth about $30,000. Wilmington Savings Fund Society FSB acquired a new stake in Nexstar Media Group during the third quarter worth about $33,000. Finally, Jones Financial Companies Lllp grew its holdings in Nexstar Media Group by 15.3% during the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company's stock worth $87,000 after acquiring an additional 73 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Gary Weitman sold 1,241 shares of Nexstar Media Group stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $177.21, for a total transaction of $219,917.61. Following the transaction, the insider now owns 3,975 shares in the company, valued at approximately $704,409.75. This trade represents a 23.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Lee Ann Gliha sold 330 shares of Nexstar Media Group stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $158.23, for a total value of $52,215.90. Following the transaction, the chief financial officer now owns 8,610 shares in the company, valued at approximately $1,362,360.30. The trade was a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 126,250 shares of company stock worth $20,450,616 over the last quarter. 6.30% of the stock is currently owned by corporate insiders.

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Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Loop Capital upgraded Nexstar Media Group from a "hold" rating to a "buy" rating and increased their price target for the stock from $190.00 to $200.00 in a research report on Friday, February 28th. Rosenblatt Securities reiterated a "buy" rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Monday, March 10th. Guggenheim increased their price target on Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Barrington Research reiterated an "outperform" rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Wednesday, March 5th. Finally, Benchmark increased their price target on Nexstar Media Group from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $208.43.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST traded down $1.90 during midday trading on Thursday, hitting $177.38. The stock had a trading volume of 443,633 shares, compared to its average volume of 331,942. The company has a market capitalization of $5.41 billion, a PE ratio of 10.26, a P/E/G ratio of 0.45 and a beta of 1.47. The stock has a 50 day simple moving average of $158.73 and a 200-day simple moving average of $163.92. Nexstar Media Group, Inc. has a 1 year low of $146.04 and a 1 year high of $191.86. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported $7.56 earnings per share for the quarter, missing the consensus estimate of $9.22 by ($1.66). The firm had revenue of $1.49 billion during 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, sell-side analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 4.19%. The ex-dividend date was Wednesday, February 12th. This is an increase from Nexstar Media Group's previous quarterly dividend of $1.69. Nexstar Media Group's dividend payout ratio (DPR) is 34.56%.

Nexstar Media Group 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.