Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Boston Financial Mangement LLC

Boston Financial Mangement LLC lowered its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 216,026 shares of the company's stock after selling 10,615 shares during the period. Nexstar Media Group comprises 1.0% of Boston Financial Mangement LLC's portfolio, making the stock its 27th largest position. Boston Financial Mangement LLC owned 0.70% of Nexstar Media Group worth $34,126,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Nexstar Media Group by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company's stock valued at $1,073,000 after buying an additional 68 shares during the last quarter. Blue Trust Inc. boosted its stake in Nexstar Media Group by 7.3% during the 3rd quarter. Blue Trust Inc. now owns 1,088 shares of the company's stock valued at $181,000 after acquiring an additional 74 shares during the last quarter. Natixis Advisors LLC grew its holdings in Nexstar Media Group by 1.2% during the 3rd quarter. Natixis Advisors LLC now owns 10,185 shares of the company's stock worth $1,684,000 after acquiring an additional 117 shares in the last quarter. Davis Capital Management grew its holdings in Nexstar Media Group by 2.0% during the 4th quarter. Davis Capital Management now owns 6,270 shares of the company's stock worth $990,000 after acquiring an additional 122 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of Nexstar Media Group by 5.8% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 2,518 shares of the company's stock worth $398,000 after purchasing an additional 137 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Nexstar Media Group Stock Performance

NASDAQ:NXST traded down $5.02 during midday trading on Friday, reaching $149.56. 447,822 shares of the company traded hands, compared to its average volume of 282,539. The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of 8.65, a price-to-earnings-growth ratio of 0.45 and a beta of 1.45. The company has a fifty day moving average price of $155.72 and a 200 day moving average price of $163.69. 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, Inc. has a twelve month low of $147.25 and a twelve month high of $191.86.

Nexstar Media Group Increases Dividend

The company 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 an increase from Nexstar Media Group's previous quarterly dividend of $1.69. The ex-dividend date is Wednesday, February 12th. This represents a $7.44 annualized dividend and a dividend yield of 4.97%. Nexstar Media Group's payout ratio is 43.03%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Loop Capital cut shares of Nexstar Media Group from a "buy" rating to a "hold" rating and reduced their price target for the stock from $200.00 to $190.00 in a research report on Friday, November 8th. Benchmark reiterated a "buy" rating and issued a $215.00 target price on shares of Nexstar Media Group in a research report on Friday, November 8th. Guggenheim reiterated a "buy" rating on shares of Nexstar Media Group in a report on Wednesday, January 22nd. Barrington Research restated an "outperform" rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, November 7th. Finally, StockNews.com upgraded shares of Nexstar Media Group from a "hold" rating to a "buy" rating in a research note 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's stock. According to data from MarketBeat.com, Nexstar Media Group has a consensus rating of "Moderate Buy" and an average price target of $204.29.

Insider Transactions at Nexstar Media Group

In related news, CEO Perry A. Sook sold 37,025 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $160.14, for a total value of $5,929,183.50. Following the completion of the transaction, the chief executive officer now directly owns 674,694 shares of the company's stock, valued at $108,045,497.16. This represents a 5.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Brett Jenkins sold 4,331 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $170.64, for a total value of $739,041.84. Following the completion of the sale, the insider now owns 25,540 shares in the company, valued at approximately $4,358,145.60. This represents a 14.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 131,824 shares of company stock worth $21,093,408. Insiders own 6.30% of the company's stock.

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.