Capital Research Global Investors Sells 227,483 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Capital Research Global Investors trimmed its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 37.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 382,640 shares of the company’s stock after selling 227,483 shares during the period. Capital Research Global Investors owned approximately 1.23% of Nexstar Media Group worth $60,446,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in shares of Nexstar Media Group in the 4th quarter worth $25,000. Wilmington Savings Fund Society FSB bought a new position in Nexstar Media Group in the third quarter valued at $33,000. Jones Financial Companies Lllp raised its position in Nexstar Media Group by 15.3% during the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock valued at $87,000 after purchasing an additional 73 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake 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 worth $124,000 after purchasing an additional 392 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Nexstar Media Group by 31.0% in the 4th quarter. Venturi Wealth Management LLC now owns 883 shares of the company’s stock worth $139,000 after purchasing an additional 209 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nexstar Media Group

In related news, CEO Perry A. Sook sold 32,096 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $170.67, for a total transaction of $5,477,824.32. Following the completion of the sale, the chief executive officer now owns 806,019 shares of the company’s stock, valued at $137,563,262.73. This trade represents a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gary Weitman sold 1,241 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 3,975 shares in the company, valued at $704,409.75. This trade represents a 23.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,105 shares of company stock worth $6,722,463. 6.30% of the stock is owned by corporate insiders.

Nexstar Media Group Price Performance

Shares of NXST stock opened at $146.42 on Tuesday. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The firm has a market cap of $4.47 billion, a P/E ratio of 8.47, a P/E/G ratio of 0.45 and a beta of 1.09. The business’s 50 day moving average price is $163.35 and its 200-day moving average price is $163.56. Nexstar Media Group, Inc. has a fifty-two week low of $143.32 and a fifty-two week high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Thursday, February 27th. The company reported $7.56 EPS for the quarter, missing the consensus estimate 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, equities research analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current 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 is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. This represents a $7.44 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date was Wednesday, February 12th. Nexstar Media Group’s dividend payout ratio is currently 34.56%.

Analyst Ratings Changes

A number of analysts recently weighed in on NXST shares. Loop Capital upgraded Nexstar Media Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $190.00 to $200.00 in a research report on Friday, February 28th. Benchmark boosted their price objective 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. Barrington Research reaffirmed an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Wednesday, March 5th. Guggenheim boosted their price target on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, StockNews.com cut Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $208.43.

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.