Private Management Group Inc. Sells 111,554 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Private Management Group Inc. lowered its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 95.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,879 shares of the company's stock after selling 111,554 shares during the period. Private Management Group Inc.'s holdings in Nexstar Media Group were worth $972,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Nexstar Media Group by 3.9% during the first quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company's stock worth $580,689,000 after purchasing an additional 127,783 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Nexstar Media Group by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company's stock worth $220,189,000 after buying an additional 62,331 shares during the period. Copeland Capital Management LLC grew its stake in Nexstar Media Group by 18.1% in the 3rd quarter. Copeland Capital Management LLC now owns 547,728 shares of the company's stock valued at $90,567,000 after buying an additional 83,829 shares in the last quarter. Capital Research Global Investors bought a new stake in Nexstar Media Group during the 1st quarter valued at $92,323,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Nexstar Media Group by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 418,815 shares of the company's stock worth $69,528,000 after acquiring an additional 2,145 shares in the last quarter. Institutional investors own 95.30% of the company's stock.

Nexstar Media Group Price Performance

NASDAQ NXST traded up $1.16 on Friday, reaching $177.08. 353,401 shares of the company's stock traded hands, compared to its average volume of 230,537. The stock has a market cap of $5.71 billion, a PE ratio of 13.92, a P/E/G ratio of 0.20 and a beta of 1.48. Nexstar Media Group, Inc. has a 12 month low of $140.92 and a 12 month high of $187.27. The stock has a 50-day simple moving average of $167.82 and a 200 day simple moving average of $166.45. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.78 and a quick ratio of 1.78.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported $3.54 EPS for the quarter, missing the consensus estimate of $4.48 by ($0.94). Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the business posted $2.64 EPS. Nexstar Media Group's revenue for the quarter was up 2.3% on a year-over-year basis. As a group, research analysts predict that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group's dividend payout ratio is presently 53.14%.

Insider Activity at Nexstar Media Group

In related news, CFO Lee Ann Gliha sold 984 shares of Nexstar Media Group stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total value of $155,107.92. Following the transaction, the chief financial officer now directly owns 8,107 shares of the company's stock, valued at $1,277,906.41. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Nexstar Media Group news, COO Michael Biard sold 2,458 shares of the business's stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $169.28, for a total transaction of $416,090.24. Following the transaction, the chief operating officer now directly owns 3,792 shares of the company's stock, valued at approximately $641,909.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Lee Ann Gliha sold 984 shares of the firm's stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total transaction of $155,107.92. Following the completion of the sale, the chief financial officer now directly owns 8,107 shares of the company's stock, valued at approximately $1,277,906.41. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,112 shares of company stock worth $6,887,029 in the last ninety days. 6.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on NXST. Deutsche Bank Aktiengesellschaft decreased their price objective on Nexstar Media Group from $207.00 to $205.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. Barrington Research reiterated an "outperform" rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, August 8th. Wells Fargo & Company cut their price objective on shares of Nexstar Media Group from $221.00 to $209.00 and set an "overweight" rating for the company in a research report on Friday, August 9th. StockNews.com lowered shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Friday, October 4th. Finally, Benchmark cut their price target on shares of Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating for the company in a report on Monday, October 14th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $199.71.

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.