Channing Capital Management LLC Sells 12,037 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Channing Capital Management LLC lessened its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 556,978 shares of the company's stock after selling 12,037 shares during the quarter. Nexstar Media Group comprises about 2.3% of Channing Capital Management LLC's portfolio, making the stock its 12th largest holding. Channing Capital Management LLC owned approximately 1.80% of Nexstar Media Group worth $87,986,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Brooklyn Investment Group bought a new position in Nexstar Media Group in the 3rd quarter valued at about $25,000. SBI Securities Co. Ltd. bought a new position in shares of Nexstar Media Group during the fourth quarter worth approximately $25,000. True Wealth Design LLC acquired a new stake in Nexstar Media Group during the 3rd quarter worth approximately $30,000. Wilmington Savings Fund Society FSB bought a new stake in Nexstar Media Group in the 3rd quarter valued at $33,000. Finally, Capital Performance Advisors LLP acquired a new position in Nexstar Media Group in the 3rd quarter valued at $44,000. Institutional investors and hedge funds own 95.30% of the company's stock.

Insider Buying and Selling at Nexstar Media Group

In other news, CEO Perry A. Sook sold 35,205 shares of the business's stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $162.13, for a total transaction of $5,707,786.65. Following the sale, the chief executive officer now directly owns 674,694 shares in the company, valued at approximately $109,388,138.22. The trade was a 4.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gary Weitman sold 1,241 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $177.21, for a total value of $219,917.61. Following the completion of the transaction, the insider now directly owns 3,975 shares of the company's stock, valued at $704,409.75. This represents a 23.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 161,455 shares of company stock worth $26,158,403 over the last quarter. Corporate insiders own 6.30% of the company's stock.

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Nexstar Media Group Price Performance

Shares of NXST stock traded up $1.33 during trading hours on Friday, reaching $169.88. The company's stock had a trading volume of 596,758 shares, compared to its average volume of 404,553. Nexstar Media Group, Inc. has a fifty-two week low of $146.04 and a fifty-two week high of $191.86. The firm's 50 day simple moving average is $157.63 and its 200-day simple moving average is $163.83. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The company has a market capitalization of $5.18 billion, a price-to-earnings ratio of 9.83, a PEG ratio of 0.45 and a beta of 1.47.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $9.22 by ($1.66). The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.48 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. Sell-side analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a $1.86 dividend. This is an increase from Nexstar Media Group's previous quarterly dividend of $1.69. The ex-dividend date was Wednesday, February 12th. This represents a $7.44 annualized dividend and a yield of 4.38%. Nexstar Media Group's dividend payout ratio is presently 34.56%.

Wall Street Analyst Weigh In

NXST has been the subject of a number of research reports. Rosenblatt Securities reissued a "buy" rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Monday. Loop Capital raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating and boosted their price objective for the company from $190.00 to $200.00 in a report on Friday, February 28th. Guggenheim increased their target price on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. StockNews.com downgraded shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, Benchmark increased their price target on Nexstar Media Group from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $208.43.

About Nexstar Media Group

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.