Nexstar Media Group, Inc. (NASDAQ:NXST) is Capital Management Corp VA's 2nd Largest Position

Capital Management Corp VA grew its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 2.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 162,295 shares of the company's stock after buying an additional 4,258 shares during the period. Nexstar Media Group accounts for about 4.8% of Capital Management Corp VA's portfolio, making the stock its 2nd largest position. Capital Management Corp VA owned approximately 0.50% of Nexstar Media Group worth $26,835,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NXST. Whittier Trust Co. purchased a new stake in Nexstar Media Group during the 2nd quarter valued at about $27,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Nexstar Media Group by 3,700.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company's stock valued at $44,000 after acquiring an additional 259 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Nexstar Media Group by 117.8% in the third quarter. UMB Bank n.a. now owns 294 shares of the company's stock worth $49,000 after acquiring an additional 159 shares during the period. GAMMA Investing LLC lifted its position in Nexstar Media Group by 112.2% during the second quarter. GAMMA Investing LLC now owns 295 shares of the company's stock valued at $49,000 after purchasing an additional 156 shares during the period. Finally, Mascoma Wealth Management LLC purchased a new stake in Nexstar Media Group in the second quarter valued at $49,000. Hedge funds and other institutional investors own 95.30% of the company's stock.

Insiders Place Their Bets

In related news, insider Sean Compton sold 3,930 shares of the firm's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $160.61, for a total transaction of $631,197.30. Following the completion of the sale, the insider now directly owns 10,684 shares in the company, valued at approximately $1,715,957.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Sean Compton sold 3,930 shares of the firm's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $160.61, for a total transaction of $631,197.30. Following the completion of the sale, the insider now directly owns 10,684 shares of the company's stock, valued at approximately $1,715,957.24. This trade represents 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 this hyperlink. Also, insider Andrew Alford sold 3,175 shares of the company's stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $167.82, for a total transaction of $532,828.50. Following the completion of the transaction, the insider now directly owns 9,173 shares in the company, valued at $1,539,412.86. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,112 shares of company stock valued at $6,887,029. Insiders own 6.30% of the company's stock.

Analyst Upgrades and Downgrades

NXST has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reduced their price objective on Nexstar Media Group from $207.00 to $205.00 and set a "buy" rating for the company in a research note on Friday, August 9th. Guggenheim decreased their price target on Nexstar Media Group from $200.00 to $198.00 and set a "buy" rating for the company in a report on Friday, October 4th. StockNews.com lowered shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Friday, October 4th. Barrington Research reissued an "outperform" rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, August 8th. Finally, Benchmark lowered their target price on shares of Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating on the stock in a research note on Monday, October 14th. Two research 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $199.71.

Nexstar Media Group Price Performance

Shares of NXST traded down $0.71 during trading hours on Tuesday, hitting $172.87. 347,498 shares of the stock were exchanged, compared to its average volume of 321,049. The stock's 50-day moving average price is $167.88 and its two-hundred day moving average price is $166.58. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth 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.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported $3.54 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the company earned $2.64 earnings per share. Nexstar Media Group's quarterly revenue was up 2.3% on a year-over-year basis. Research analysts expect that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $1.69 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a yield of 3.91%. Nexstar Media Group's payout ratio is 53.14%.

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.