Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. cut its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 14.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,089 shares of the company's stock after selling 5,332 shares during the quarter. Edgestream Partners L.P. owned 0.10% of Nexstar Media Group worth $5,141,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NXST. Charles Schwab Investment Management Inc. increased its position in Nexstar Media Group by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company's stock worth $179,149,000 after purchasing an additional 7,117 shares during the period. Quest Partners LLC boosted its stake in shares of Nexstar Media Group by 661.4% in the third quarter. Quest Partners LLC now owns 8,672 shares of the company's stock valued at $1,434,000 after buying an additional 7,533 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Nexstar Media Group by 5.8% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 111,905 shares of the company's stock worth $18,504,000 after acquiring an additional 6,101 shares during the period. GSA Capital Partners LLP raised its position in Nexstar Media Group by 211.2% in the third quarter. GSA Capital Partners LLP now owns 6,195 shares of the company's stock worth $1,024,000 after acquiring an additional 4,204 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. purchased a new stake in shares of Nexstar Media Group during the 2nd quarter worth $570,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Nexstar Media Group Price Performance

Nexstar Media Group stock traded down $0.56 during mid-day trading on Friday, hitting $170.59. 145,935 shares of the company were exchanged, compared to its average volume of 396,657. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. The business's 50 day simple moving average is $169.31 and its two-hundred day simple moving average is $167.04. Nexstar Media Group, Inc. has a 12-month low of $141.38 and a 12-month high of $191.86. The company has a market capitalization of $5.29 billion, a P/E ratio of 9.87, a PEG ratio of 0.20 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing analysts' consensus estimates of $5.51 by ($0.24). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. The firm's revenue for the quarter was up 20.7% compared to the same quarter last year. Analysts forecast that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend was Friday, November 15th. Nexstar Media Group's dividend payout ratio (DPR) is 39.10%.

Insider Transactions at Nexstar Media Group

In other news, insider Brett Jenkins sold 4,331 shares of the company'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 directly owns 25,540 shares of the company's stock, valued at approximately $4,358,145.60. This represents a 14.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles Thomas Mcmillen sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $160.00, for a total value of $160,000.00. Following the completion of the sale, the director now owns 7,975 shares of the company's stock, valued at $1,276,000. This trade represents a 11.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,423 shares of company stock worth $7,916,739. Insiders own 6.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on NXST shares. Guggenheim lowered their price target on shares of Nexstar Media Group from $200.00 to $198.00 and set a "buy" rating on the stock in a research note on Friday, October 4th. Wells Fargo & Company dropped their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an "overweight" rating for the company in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Nexstar Media Group from $207.00 to $205.00 and set a "buy" rating for the company in a research report on Friday, August 9th. Barrington Research reissued an "outperform" rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, November 7th. Finally, Loop Capital cut 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 report on Friday, November 8th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $198.50.

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.