Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC reduced its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 11.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,326 shares of the company’s stock after selling 170 shares during the quarter. Metis Global Partners LLC’s holdings in Nexstar Media Group were worth $209,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in Nexstar Media Group during the 3rd quarter valued at about $25,000. True Wealth Design LLC acquired a new position in Nexstar Media Group during the 3rd quarter valued at about $30,000. Wilmington Savings Fund Society FSB acquired a new position in Nexstar Media Group during the 3rd quarter valued at about $33,000. Capital Performance Advisors LLP acquired a new position in Nexstar Media Group during the 3rd quarter valued at about $44,000. Finally, Quarry LP increased its position in Nexstar Media Group by 111.1% during the 3rd quarter. Quarry LP now owns 627 shares of the company’s stock valued at $104,000 after buying an additional 330 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NXST has been the topic of several recent analyst reports. StockNews.com lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday. Guggenheim increased their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a report on Friday, February 28th. Benchmark increased their price objective on Nexstar Media Group from $200.00 to $225.00 and gave the company a “buy” rating in a report on Friday, February 28th. Barrington Research reissued an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Wednesday. Finally, Loop Capital raised Nexstar Media Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $190.00 to $200.00 in a report on Friday, February 28th. One equities research 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 presently has a consensus rating of “Moderate Buy” and an average target price of $210.29.

Insiders Place Their Bets

In other Nexstar Media Group news, Director Lisbeth Mcnabb sold 875 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $172.00, for a total transaction of $150,500.00. Following the transaction, the director now owns 5,752 shares in the company, valued at approximately $989,344. This represents a 13.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles Thomas Mcmillen sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $169.51, for a total value of $339,020.00. Following the transaction, the director now owns 4,975 shares in the company, valued at $843,312.25. This represents a 28.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 161,589 shares of company stock worth $26,171,210. 6.30% of the stock is owned by corporate insiders.

Nexstar Media Group Stock Up 1.7 %

Shares of NXST opened at $172.59 on Friday. Nexstar Media Group, Inc. has a 52 week low of $146.04 and a 52 week high of $191.86. 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 company has a market capitalization of $5.35 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 0.45 and a beta of 1.45. The stock’s 50-day moving average price is $155.98 and its 200-day moving average price is $163.64.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, February 27th. The company reported $7.56 EPS for the quarter, missing analysts’ consensus estimates of $9.22 by ($1.66). The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. On average, sell-side 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. Shareholders of record on Wednesday, February 12th were given a dividend of $1.86 per share. The ex-dividend date was Wednesday, February 12th. This represents a $7.44 dividend on an annualized basis and a yield of 4.31%. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s dividend payout ratio is currently 34.56%.

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.