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Lord Abbett & CO. LLC Sells 7,442 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Nexstar Media Group logo with Consumer Discretionary background

Lord Abbett & CO. LLC decreased its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 8.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 78,488 shares of the company's stock after selling 7,442 shares during the quarter. Lord Abbett & CO. LLC owned about 0.25% of Nexstar Media Group worth $12,978,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in NXST. BNP Paribas Financial Markets grew its position in Nexstar Media Group by 67.8% in the third quarter. BNP Paribas Financial Markets now owns 26,239 shares of the company's stock worth $4,339,000 after acquiring an additional 10,603 shares in the last quarter. SGL Investment Advisors Inc. acquired a new stake in shares of Nexstar Media Group in the 3rd quarter valued at $3,758,000. Charles Schwab Investment Management Inc. increased its position in Nexstar Media Group by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company's stock worth $179,149,000 after buying an additional 7,117 shares during the last quarter. Quest Partners LLC increased its position in Nexstar Media Group by 661.4% during the third quarter. Quest Partners LLC now owns 8,672 shares of the company's stock worth $1,434,000 after buying an additional 7,533 shares during the last quarter. Finally, Holocene Advisors LP raised its holdings in Nexstar Media Group by 680.9% during the third quarter. Holocene Advisors LP now owns 17,219 shares of the company's stock valued at $2,847,000 after buying an additional 15,014 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Nexstar Media Group Stock Performance

NXST stock traded down $1.27 on Monday, reaching $163.33. 358,924 shares of the company were exchanged, compared to its average volume of 327,778. The firm has a market capitalization of $5.07 billion, a PE ratio of 9.45, a PEG ratio of 0.20 and a beta of 1.45. Nexstar Media Group, Inc. has a 12 month low of $147.25 and a 12 month high of $191.86. The stock's fifty day moving average price is $170.10 and its 200 day moving average price is $167.47. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.51 by ($0.24). The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The business's revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.70 earnings per share. On average, research analysts anticipate that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $1.69 per share. The ex-dividend date was Friday, November 15th. This represents a $6.76 annualized dividend and a yield of 4.14%. Nexstar Media Group's dividend payout ratio is 39.10%.

Analysts Set New Price Targets

NXST has been the subject of several recent analyst reports. Benchmark reiterated a "buy" rating and set a $215.00 price target on shares of Nexstar Media Group in a research note on Friday, November 8th. Barrington Research reiterated an "outperform" rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, November 7th. StockNews.com raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating in a research report on Friday, November 8th. Guggenheim decreased their price objective on shares of Nexstar Media Group from $200.00 to $198.00 and set a "buy" rating for the company in a report on Friday, October 4th. Finally, Loop Capital downgraded shares of Nexstar Media Group from a "buy" rating to a "hold" rating and dropped their target price for the stock from $200.00 to $190.00 in a report on Friday, November 8th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $204.29.

Check Out Our Latest Report on Nexstar Media Group

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, Director Bernadette S. Aulestia sold 500 shares of the business's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $164.45, for a total value of $82,225.00. Following the sale, the director now owns 2,000 shares of the company's stock, valued at $328,900. The trade was a 20.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Charles Thomas Mcmillen sold 250 shares of the firm's stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $164.44, for a total transaction of $41,110.00. Following the transaction, the director now directly owns 7,725 shares of the company's stock, valued at $1,270,299. The trade was a 3.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,798 shares of company stock valued at $7,656,704 in the last quarter. Corporate insiders own 6.30% of the company's stock.

Nexstar Media Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Nexstar Media Group (NASDAQ:NXST)

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