Victory Capital Management Inc. Lowers Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Victory Capital Management Inc. lessened its stake in Nexstar Media Group, Inc. (NASDAQ:NXST – Get Rating) by 9.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 183,417 shares of the company’s stock after selling 19,942 shares during the quarter. Victory Capital Management Inc.’s holdings in Nexstar Media Group were worth $30,604,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of NXST. Crossmark Global Holdings Inc. raised its position in Nexstar Media Group by 0.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 57,181 shares of the company’s stock worth $9,541,000 after buying an additional 523 shares during the last quarter. Great West Life Assurance Co. Can bought a new stake in shares of Nexstar Media Group during the 3rd quarter valued at about $1,329,000. Park Avenue Securities LLC grew its stake in shares of Nexstar Media Group by 23.9% during the 3rd quarter. Park Avenue Securities LLC now owns 2,906 shares of the company’s stock valued at $485,000 after purchasing an additional 560 shares during the period. Jennison Associates LLC bought a new position in shares of Nexstar Media Group during the 3rd quarter valued at approximately $551,000. Finally, M&G Investment Management Ltd. bought a new position in shares of Nexstar Media Group during the 3rd quarter valued at approximately $1,403,000. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NXST shares. StockNews.com started coverage on Nexstar Media Group in a research note on Wednesday, October 12th. They set a “buy” rating for the company. Rosenblatt Securities dropped their price target on Nexstar Media Group from $246.00 to $237.00 and set a “buy” rating for the company in a research note on Wednesday, November 9th. Wells Fargo & Company downgraded Nexstar Media Group from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $227.00 to $175.00 in a research note on Wednesday, November 9th. Barrington Research decreased their price objective on Nexstar Media Group from $240.00 to $200.00 in a report on Friday, November 11th. Finally, Guggenheim decreased their price objective on Nexstar Media Group to $230.00 in a report on Thursday, October 20th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $215.33.

Nexstar Media Group Stock Performance

NASDAQ:NXST opened at $185.91 on Monday. The stock’s fifty day moving average is $178.31 and its 200 day moving average is $180.96. Nexstar Media Group, Inc. has a fifty-two week low of $151.01 and a fifty-two week high of $204.62. The firm has a market capitalization of $7.01 billion, a PE ratio of 7.42, a PEG ratio of 1.01 and a beta of 1.44. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.82 and a current ratio of 1.82.

Nexstar Media Group (NASDAQ:NXST – Get Rating) last released its quarterly earnings results on Tuesday, November 8th. The company reported $7.30 earnings per share for the quarter, beating the consensus estimate of $5.50 by $1.80. Nexstar Media Group had a return on equity of 35.59% and a net margin of 20.76%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.29 billion. On average, sell-side analysts anticipate that Nexstar Media Group, Inc. will post 26.95 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 28th. Investors of record on Monday, November 14th were issued a dividend of $0.90 per share. The ex-dividend date was Thursday, November 10th. This represents a $3.60 annualized dividend and a yield of 1.94%. Nexstar Media Group’s payout ratio is presently 14.38%.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, COO Thomas Carter sold 15,000 shares of the company’s stock in a transaction on Tuesday, November 29th. The stock was sold at an average price of $187.54, for a total value of $2,813,100.00. Following the transaction, the chief operating officer now owns 80,052 shares of the company’s stock, valued at approximately $15,012,952.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 1,000 shares of the company’s stock in a transaction on Tuesday, December 20th. The stock was sold at an average price of $170.05, for a total value of $170,050.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $850,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Thomas Carter sold 15,000 shares of the company’s stock in a transaction on Tuesday, November 29th. The shares were sold at an average price of $187.54, for a total value of $2,813,100.00. Following the completion of the transaction, the chief operating officer now directly owns 80,052 shares in the company, valued at approximately $15,012,952.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,700 shares of company stock worth $8,521,300. Company insiders own 5.00% of the company’s stock.

Nexstar Media Group Company Profile

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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.