Rhumbline Advisers Cuts Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Rhumbline Advisers cut its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 99,067 shares of the company's stock after selling 2,411 shares during the quarter. Rhumbline Advisers owned 0.32% of Nexstar Media Group worth $15,650,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Nexstar Media Group by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company's stock worth $1,073,000 after acquiring an additional 68 shares during the period. Blue Trust Inc. raised its holdings in Nexstar Media Group by 7.3% during the third quarter. Blue Trust Inc. now owns 1,088 shares of the company's stock worth $181,000 after purchasing an additional 74 shares in the last quarter. Natixis Advisors LLC lifted its position in Nexstar Media Group by 1.2% in the third quarter. Natixis Advisors LLC now owns 10,185 shares of the company's stock valued at $1,684,000 after purchasing an additional 117 shares during the period. Davis Capital Management boosted its holdings in Nexstar Media Group by 2.0% in the 4th quarter. Davis Capital Management now owns 6,270 shares of the company's stock valued at $990,000 after purchasing an additional 122 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its position in Nexstar Media Group by 5.8% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 2,518 shares of the company's stock worth $398,000 after purchasing an additional 137 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on NXST shares. Benchmark reissued a "buy" rating and issued a $215.00 price target on shares of Nexstar Media Group in a report on Friday, November 8th. Loop Capital downgraded Nexstar Media Group from a "buy" rating to a "hold" rating and reduced their target price for the company from $200.00 to $190.00 in a report on Friday, November 8th. Guggenheim reaffirmed a "buy" rating on shares of Nexstar Media Group in a research note on Wednesday, January 22nd. StockNews.com upgraded shares of Nexstar Media Group from a "hold" rating to a "buy" rating in a research note on Friday, November 8th. Finally, 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. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $204.29.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST opened at $149.56 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. The company's 50-day moving average price is $155.72 and its 200 day moving average price is $163.69. Nexstar Media Group, Inc. has a 52 week low of $147.25 and a 52 week high of $191.86. The stock has a market cap of $4.64 billion, a price-to-earnings ratio of 8.65, a PEG ratio of 0.45 and a beta of 1.45.

Nexstar Media Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be given a $1.86 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. 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 dividend yield of 4.97%. Nexstar Media Group's dividend payout ratio is currently 43.03%.

Insider Buying and Selling

In other Nexstar Media Group news, Director Bernadette S. Aulestia sold 500 shares of the firm's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $164.45, for a total transaction of $82,225.00. Following the sale, the director now directly owns 2,000 shares of the company's stock, valued at $328,900. This trade represents a 20.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Perry A. Sook sold 35,205 shares of the business's stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $162.13, for a total transaction of $5,707,786.65. Following the completion of the transaction, the chief executive officer now directly owns 674,694 shares of the company's stock, valued at approximately $109,388,138.22. This represents a 4.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 131,824 shares of company stock worth $21,093,408 in the last ninety days. Insiders own 6.30% of the company's stock.

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.

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