Envestnet Asset Management Inc. Reduces Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Envestnet Asset Management Inc. decreased its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXSTGet Rating) by 44.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,227 shares of the company’s stock after selling 63,826 shares during the period. Envestnet Asset Management Inc. owned 0.20% of Nexstar Media Group worth $15,121,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Boston Partners increased its position in Nexstar Media Group by 11.6% during the fourth quarter. Boston Partners now owns 1,229,150 shares of the company’s stock worth $185,568,000 after buying an additional 127,866 shares in the last quarter. Cardinal Capital Management LLC CT increased its position in Nexstar Media Group by 2.4% during the fourth quarter. Cardinal Capital Management LLC CT now owns 1,120,631 shares of the company’s stock worth $169,193,000 after buying an additional 25,781 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Nexstar Media Group by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 667,764 shares of the company’s stock valued at $100,860,000 after purchasing an additional 3,997 shares during the period. Clark Capital Management Group Inc. grew its position in shares of Nexstar Media Group by 3.3% in the fourth quarter. Clark Capital Management Group Inc. now owns 507,510 shares of the company’s stock valued at $76,624,000 after purchasing an additional 15,976 shares during the period. Finally, Fuller & Thaler Asset Management Inc. grew its position in shares of Nexstar Media Group by 2.9% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 501,318 shares of the company’s stock valued at $75,689,000 after purchasing an additional 14,115 shares during the period. Hedge funds and other institutional investors own 96.00% of the company’s stock.

Nexstar Media Group Price Performance

Shares of Nexstar Media Group stock opened at $195.23 on Friday. Nexstar Media Group, Inc. has a twelve month low of $138.80 and a twelve month high of $197.22. The stock has a market capitalization of $7.89 billion, a P/E ratio of 9.48, a PEG ratio of 0.71 and a beta of 1.50. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 2.47. The business’s fifty day moving average price is $172.37 and its 200 day moving average price is $173.39.

Nexstar Media Group (NASDAQ:NXSTGet Rating) last issued its earnings results on Thursday, August 4th. The company reported $5.56 earnings per share for the quarter, beating analysts’ consensus estimates of $5.46 by $0.10. Nexstar Media Group had a return on equity of 32.08% and a net margin of 18.66%. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the firm earned $4.51 earnings per share. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, research analysts anticipate that Nexstar Media Group, Inc. will post 26.4 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Wednesday, August 10th. Nexstar Media Group’s dividend payout ratio is presently 17.48%.

Insiders Place Their Bets

In other Nexstar Media Group news, Director Dennis Miller sold 4,989 shares of the business’s stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $172.33, for a total transaction of $859,754.37. Following the transaction, the director now owns 1,625 shares in the company, valued at $280,036.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Nexstar Media Group news, Director Dennis Miller sold 4,989 shares of the business’s stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $172.33, for a total transaction of $859,754.37. Following the transaction, the director now owns 1,625 shares in the company, valued at $280,036.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Gary Weitman sold 3,202 shares of the business’s stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $168.20, for a total value of $538,576.40. Following the transaction, the insider now owns 2,783 shares in the company, valued at approximately $468,100.60. The disclosure for this sale can be found here. Insiders have sold a total of 12,960 shares of company stock worth $2,233,523 over the last quarter. 5.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NXST. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Thursday, May 12th. Guggenheim lifted their price objective on Nexstar Media Group from $210.00 to $220.00 in a research report on Wednesday, May 11th. Deutsche Bank Aktiengesellschaft lifted their price objective on Nexstar Media Group from $216.00 to $225.00 in a research report on Thursday, May 12th. Finally, Rosenblatt Securities lifted their price objective on Nexstar Media Group to $181.00 and gave the company a “na” rating in a research report on Monday, May 16th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $210.57.

About Nexstar Media Group

(Get Rating)

Nexstar Media Group, Inc, a television broadcasting and digital media company, focuses on the acquisition, development, and operation of television stations and interactive community websites and digital media services in the United States. The company offers free programming to television viewing audiences.

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Institutional Ownership by Quarter for Nexstar Media Group (NASDAQ:NXST)

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