Evergreen Wealth Management LLC Has $1.63 Million Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Evergreen Wealth Management LLC trimmed its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 35.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,340 shares of the company's stock after selling 5,598 shares during the period. Evergreen Wealth Management LLC's holdings in Nexstar Media Group were worth $1,633,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Brooklyn Investment Group acquired a new position in Nexstar Media Group in the third quarter valued at approximately $25,000. True Wealth Design LLC acquired a new position in Nexstar Media Group in the third quarter valued at approximately $30,000. Wilmington Savings Fund Society FSB acquired a new position in Nexstar Media Group in the third quarter valued at approximately $33,000. Capital Performance Advisors LLP acquired a new position in Nexstar Media Group in the third quarter valued at approximately $44,000. Finally, Quarry LP boosted its stake in Nexstar Media Group by 111.1% in the third quarter. Quarry LP now owns 627 shares of the company's stock valued at $104,000 after acquiring an additional 330 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on NXST. Benchmark restated a "buy" rating and issued a $215.00 target price on shares of Nexstar Media Group in a research note on Friday, November 8th. Guggenheim restated a "buy" rating on shares of Nexstar Media Group in a research note on Wednesday, January 22nd. Barrington Research reiterated an "outperform" rating and set a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, November 7th. StockNews.com upgraded Nexstar Media Group from a "hold" rating to a "buy" rating in a research report on Friday, November 8th. Finally, Loop Capital downgraded Nexstar Media Group from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $200.00 to $190.00 in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $204.29.

Insider Activity

In other news, CEO Perry A. Sook sold 37,025 shares of the business's stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $160.14, for a total transaction of $5,929,183.50. Following the transaction, the chief executive officer now directly owns 674,694 shares in the company, valued at $108,045,497.16. The trade was a 5.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John R. Muse sold 2,385 shares of the company's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $170.16, for a total transaction of $405,831.60. Following the completion of the sale, the director now owns 25,978 shares of the company's stock, valued at $4,420,416.48. This represents a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 134,209 shares of company stock worth $21,499,239 in the last ninety days. Corporate insiders own 6.30% of the company's stock.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST traded up $0.24 during trading on Thursday, hitting $154.58. The company had a trading volume of 254,235 shares, compared to its average volume of 277,531. The business's 50-day moving average is $156.02 and its 200 day moving average is $163.82. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. Nexstar Media Group, Inc. has a 52 week low of $147.25 and a 52 week high of $191.86. The company has a market cap of $4.80 billion, a P/E ratio of 8.94, a PEG ratio of 0.45 and a beta of 1.45.

Nexstar Media Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be issued a dividend of $1.86 per share. This is a boost from Nexstar Media Group's previous quarterly dividend of $1.69. This represents a $7.44 annualized dividend and a dividend yield of 4.81%. The ex-dividend date is Wednesday, February 12th. Nexstar Media Group's payout ratio is currently 43.03%.

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.