State Street Corp Sells 3,674 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

State Street Corp lowered its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 0.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 959,107 shares of the company's stock after selling 3,674 shares during the period. State Street Corp owned approximately 3.09% of Nexstar Media Group worth $158,588,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. CWM LLC raised its holdings in Nexstar Media Group by 60.7% in the 2nd quarter. CWM LLC now owns 1,178 shares of the company's stock valued at $196,000 after acquiring an additional 445 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Nexstar Media Group during the second quarter worth $1,066,000. Wealth Enhancement Advisory Services LLC increased its holdings in Nexstar Media Group by 4.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,468 shares of the company's stock valued at $742,000 after buying an additional 193 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in shares of Nexstar Media Group by 10.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,745 shares of the company's stock valued at $622,000 after buying an additional 345 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Nexstar Media Group by 26.8% during the 2nd quarter. Blue Trust Inc. now owns 1,014 shares of the company's stock worth $175,000 after acquiring an additional 214 shares during the period. Institutional investors and hedge funds own 95.30% of the company's stock.

Nexstar Media Group Price Performance

Nexstar Media Group stock traded down $0.40 on Friday, reaching $164.60. The company's stock had a trading volume of 455,016 shares, compared to its average volume of 327,648. Nexstar Media Group, Inc. has a twelve month low of $147.25 and a twelve month high of $191.86. The company has a market cap of $5.11 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 0.20 and a beta of 1.45. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The business's fifty day moving average price is $170.11 and its 200 day moving average price is $167.33.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $5.27 EPS 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 the consensus estimate of $1.37 billion. During the same period in the prior year, the company earned $0.70 EPS. The firm's revenue was up 20.7% compared to the same quarter last year. Equities analysts expect that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a $1.69 dividend. This represents a $6.76 annualized dividend and a yield of 4.11%. The ex-dividend date was Friday, November 15th. Nexstar Media Group's dividend payout ratio (DPR) is presently 39.10%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. StockNews.com raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating in a research note on Friday, November 8th. Guggenheim lowered their price objective on 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. Barrington Research restated an "outperform" rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, November 7th. Benchmark reiterated a "buy" rating and issued a $215.00 price target on shares of Nexstar Media Group in a research report on Friday, November 8th. Finally, Loop Capital cut Nexstar Media Group from a "buy" rating to a "hold" rating and cut their price objective for the company from $200.00 to $190.00 in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Nexstar Media Group presently has an average rating of "Moderate Buy" and an average target price of $204.29.

Insiders Place Their Bets

In other news, insider Andrew Alford sold 3,175 shares of the firm's stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $167.82, for a total value of $532,828.50. Following the transaction, the insider now owns 9,173 shares of the company's stock, valued at approximately $1,539,412.86. This trade represents a 25.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director D Geoffrey Armstrong sold 2,000 shares of Nexstar Media Group stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $166.38, for a total transaction of $332,760.00. Following the sale, the director now owns 7,250 shares of the company's stock, valued at approximately $1,206,255. This represents a 21.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,798 shares of company stock valued at $7,989,464. 6.30% of the stock is currently owned by corporate insiders.

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.