Private Management Group Inc. Has $366,000 Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Private Management Group Inc. trimmed its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 60.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,318 shares of the company's stock after selling 3,561 shares during the period. Private Management Group Inc.'s holdings in Nexstar Media Group were worth $366,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Meritage Portfolio Management boosted its position in Nexstar Media Group by 10.4% in the 4th quarter. Meritage Portfolio Management now owns 5,084 shares of the company's stock valued at $803,000 after buying an additional 481 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Nexstar Media Group by 15.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,947 shares of the company's stock valued at $3,493,000 after buying an additional 2,929 shares during the last quarter. Verity Asset Management Inc. bought a new position in Nexstar Media Group in the 4th quarter valued at $250,000. Trust Point Inc. bought a new position in Nexstar Media Group in the 4th quarter valued at $350,000. Finally, Clear Creek Financial Management LLC boosted its position in Nexstar Media Group by 13.0% in the 4th quarter. Clear Creek Financial Management LLC now owns 2,367 shares of the company's stock valued at $374,000 after buying an additional 273 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Lee Ann Gliha sold 330 shares of Nexstar Media Group stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $158.23, for a total transaction of $52,215.90. Following the completion of the transaction, the chief financial officer now owns 8,610 shares in the company, valued at approximately $1,362,360.30. This trade represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Perry A. Sook sold 35,205 shares of Nexstar Media Group stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $162.13, for a total value of $5,707,786.65. Following the transaction, the chief executive officer now owns 674,694 shares of the company's stock, valued at $109,388,138.22. The trade was a 4.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,209 shares of company stock worth $21,499,239 in the last quarter. Corporate insiders own 6.30% of the company's stock.

Nexstar Media Group Stock Down 0.0 %

Shares of NXST traded down $0.03 during midday trading on Monday, hitting $151.38. The stock had a trading volume of 154,396 shares, compared to its average volume of 271,188. The company has a 50 day simple moving average of $158.98 and a two-hundred day simple moving average of $165.38. Nexstar Media Group, Inc. has a twelve month low of $147.25 and a twelve month high of $191.86. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of 8.76, a price-to-earnings-growth ratio of 0.44 and a beta of 1.45. 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 results on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.51 by ($0.24). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the business earned $0.70 EPS. The business's revenue for the quarter was up 20.7% compared to the same quarter last year. On average, analysts anticipate that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be issued a $1.86 dividend. This is a boost 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 4.91%. Nexstar Media Group's dividend payout ratio (DPR) is presently 43.03%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Barrington Research reiterated an "outperform" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, November 7th. StockNews.com raised Nexstar Media Group from a "hold" rating to a "buy" rating in a research note on Friday, November 8th. Guggenheim reissued a "buy" rating on shares of Nexstar Media Group in a research note on Wednesday, January 22nd. Loop Capital downgraded Nexstar Media Group from a "buy" rating to a "hold" rating and cut their price target for the company from $200.00 to $190.00 in a research note on Friday, November 8th. Finally, Benchmark reissued a "buy" rating and issued a $215.00 price target on shares of Nexstar Media Group in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $204.29.

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.