Nexstar Media Group, Inc. (NASDAQ:NXST) Position Reduced by Prudential Financial Inc.

Prudential Financial Inc. lessened its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 39.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,109 shares of the company's stock after selling 7,344 shares during the quarter. Prudential Financial Inc.'s holdings in Nexstar Media Group were worth $1,798,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new position in shares of Nexstar Media Group during the fourth quarter worth about $25,000. Wilmington Savings Fund Society FSB purchased a new position in Nexstar Media Group during the 3rd quarter worth approximately $33,000. Jones Financial Companies Lllp grew its position in shares of Nexstar Media Group by 15.3% during the fourth 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. Quarry LP increased its stake in Nexstar Media Group by 111.1% in the third quarter. Quarry LP now owns 627 shares of the company's stock valued at $104,000 after purchasing an additional 330 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its stake in Nexstar Media Group by 99.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 786 shares of the company's stock valued at $124,000 after acquiring an additional 392 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Andrew Alford sold 3,768 shares of the company's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.98, for a total transaction of $685,700.64. Following the completion of the transaction, the insider now directly owns 5,405 shares of the company's stock, valued at approximately $983,601.90. This represents a 41.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary Weitman sold 1,241 shares of the firm's stock in a transaction 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 sale, the insider now 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. Insiders have sold a total of 39,105 shares of company stock valued at $6,722,463 in the last quarter. Insiders own 6.30% of the company's stock.

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Nexstar Media Group Stock Up 7.9 %

Shares of NXST stock traded up $11.61 during trading hours on Wednesday, reaching $159.40. The company had a trading volume of 834,503 shares, compared to its average volume of 364,845. The stock's fifty day simple moving average is $163.73 and its 200 day simple moving average is $164.39. The company has a market capitalization of $4.86 billion, a P/E ratio of 9.22, a price-to-earnings-growth ratio of 0.45 and a beta of 1.09. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. Nexstar Media Group, Inc. has a twelve month low of $143.55 and a twelve month high of $191.86.

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

Nexstar Media Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date of this dividend was Wednesday, February 12th. This is a positive change from Nexstar Media Group's previous quarterly dividend of $1.69. Nexstar Media Group's dividend payout ratio is 34.56%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NXST. Benchmark raised their target price on shares of Nexstar Media Group from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. StockNews.com lowered Nexstar Media Group from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Barrington Research reiterated an "outperform" rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Wednesday, March 5th. Loop Capital upgraded Nexstar Media Group from a "hold" rating to a "buy" rating and upped their target price for the company from $190.00 to $200.00 in a research note on Friday, February 28th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Monday, March 10th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Nexstar Media Group currently has an average rating of "Moderate Buy" and an average price target 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.