Sit Investment Associates Inc. Reduces Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Sit Investment Associates Inc. lowered its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 36.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 22,480 shares of the company's stock after selling 13,025 shares during the quarter. Sit Investment Associates Inc. owned about 0.07% of Nexstar Media Group worth $3,551,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NXST. SBI Securities Co. Ltd. purchased a new position in shares of Nexstar Media Group during the fourth quarter worth $25,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Nexstar Media Group in the 3rd quarter valued at about $33,000. Jones Financial Companies Lllp boosted its stake in shares of Nexstar Media Group by 15.3% in the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company's stock worth $87,000 after buying an additional 73 shares during the last quarter. Quarry LP grew its holdings in Nexstar Media Group by 111.1% during the third quarter. Quarry LP now owns 627 shares of the company's stock worth $104,000 after acquiring an additional 330 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its position in Nexstar Media Group by 99.5% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

Nexstar Media Group Price Performance

Shares of Nexstar Media Group stock traded down $0.99 during mid-day trading on Friday, reaching $151.99. 707,789 shares of the stock traded hands, compared to its average volume of 369,033. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The business has a 50-day moving average of $163.71 and a 200 day moving average of $164.22. The stock has a market capitalization of $4.64 billion, a PE ratio of 8.79, a PEG ratio of 0.45 and a beta of 1.09. Nexstar Media Group, Inc. has a fifty-two week low of $143.32 and a fifty-two week high of $191.86.

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Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported $7.56 EPS 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 firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. On average, analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a dividend of $1.86 per share. 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. This represents a $7.44 dividend on an annualized basis and a yield of 4.90%. Nexstar Media Group's payout ratio is presently 34.56%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Benchmark increased their price target 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. Loop Capital upgraded Nexstar Media Group from a "hold" rating to a "buy" rating and lifted their price target for the company from $190.00 to $200.00 in a research note on Friday, February 28th. 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. StockNews.com lowered Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Finally, Guggenheim upped their target price on Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Nexstar Media Group currently has an average rating of "Moderate Buy" and a consensus target price of $208.43.

Insider Activity at Nexstar Media Group

In other news, insider Gary Weitman sold 1,241 shares of the business's stock in a transaction that occurred 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Perry A. Sook sold 32,096 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $170.67, for a total value of $5,477,824.32. Following the completion of the sale, the chief executive officer now directly owns 806,019 shares of the company's stock, valued at approximately $137,563,262.73. This represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,105 shares of company stock valued at $6,722,463. Corporate insiders own 6.30% of the company's stock.

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.