Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Mesirow Institutional Investment Management Inc.

Mesirow Institutional Investment Management Inc. lessened its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 97.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,305 shares of the company's stock after selling 78,324 shares during the quarter. Mesirow Institutional Investment Management Inc.'s holdings in Nexstar Media Group were worth $364,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NXST. Wealth Enhancement Advisory Services LLC lifted its position in Nexstar Media Group by 1.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company's stock worth $1,073,000 after buying an additional 68 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Nexstar Media Group by 15.3% in the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company's stock worth $87,000 after acquiring an additional 73 shares during the last quarter. Mariner LLC increased its position in Nexstar Media Group by 5.3% during the fourth quarter. Mariner LLC now owns 2,300 shares of the company's stock worth $363,000 after purchasing an additional 115 shares during the last quarter. Davis Capital Management raised its stake in Nexstar Media Group by 2.0% during the fourth quarter. Davis Capital Management now owns 6,270 shares of the company's stock worth $990,000 after purchasing an additional 122 shares during the period. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in 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 valued at $398,000 after purchasing an additional 137 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NXST. Guggenheim increased their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $200.00 target price on shares of Nexstar Media Group in a research report on Monday, March 10th. Barrington Research reiterated an "outperform" rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Wednesday, March 5th. Benchmark upped their price objective on shares of Nexstar Media Group from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, StockNews.com cut shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $208.43.

Nexstar Media Group Stock Up 0.8 %

Shares of Nexstar Media Group stock traded up $1.16 on Friday, reaching $152.12. 220,615 shares of the company were exchanged, compared to its average volume of 372,611. The stock's 50 day moving average price is $163.24 and its 200-day moving average price is $163.29. The company has a market cap of $4.64 billion, a P/E ratio of 8.80, a price-to-earnings-growth ratio of 0.45 and a beta of 1.09. Nexstar Media Group, Inc. has a 1-year low of $143.32 and a 1-year high of $191.86. 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 (NASDAQ:NXST - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.22 by ($1.66). The firm had revenue of $1.49 billion for the quarter, compared to analysts' expectations of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. As a group, equities analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a dividend of $1.86 per share. This is a positive change from Nexstar Media Group's previous quarterly dividend of $1.69. This represents a $7.44 annualized dividend and a yield of 4.89%. The ex-dividend date was Wednesday, February 12th. Nexstar Media Group's dividend payout ratio (DPR) is currently 34.56%.

Insider Activity

In other news, insider Andrew Alford sold 3,768 shares of the firm's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total transaction of $685,700.64. Following the transaction, the insider now directly owns 5,405 shares in the company, valued at approximately $983,601.90. This trade represents a 41.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gary Weitman sold 1,241 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $177.21, for a total transaction of $219,917.61. Following the transaction, the insider now directly owns 3,975 shares in the company, valued at $704,409.75. The trade was a 23.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 39,105 shares of company stock valued at $6,722,463. Insiders own 6.30% of the company's stock.

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.