Nexstar Media Group, Inc. (NASDAQ:NXST) Stock Holdings Lessened by MML Investors Services LLC

MML Investors Services LLC cut its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST – Get Rating) by 6.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,771 shares of the company’s stock after selling 120 shares during the quarter. MML Investors Services LLC’s holdings in Nexstar Media Group were worth $295,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC acquired a new stake in Nexstar Media Group during the 3rd quarter worth about $25,000. Brown Brothers Harriman & Co. acquired a new position in Nexstar Media Group during the first quarter valued at $26,000. Lazard Asset Management LLC purchased a new stake in shares of Nexstar Media Group in the second quarter worth approximately $30,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Nexstar Media Group during the second quarter worth approximately $33,000. Finally, Ronald Blue Trust Inc. purchased a new position in Nexstar Media Group during the second quarter valued at approximately $36,000. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Sean Compton sold 2,500 shares of the stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $175.85, for a total value of $439,625.00. Following the transaction, the insider now owns 6,930 shares in the company, valued at $1,218,640.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Nexstar Media Group news, COO Thomas Carter sold 1,400 shares of the stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $182.92, for a total transaction of $256,088.00. Following the transaction, the chief operating officer now owns 80,052 shares in the company, valued at $14,643,111.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Sean Compton sold 2,500 shares of the stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $175.85, for a total value of $439,625.00. Following the transaction, the insider now owns 6,930 shares in the company, valued at approximately $1,218,640.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,900 shares of company stock worth $865,763. Insiders own 5.00% of the company’s stock.

Nexstar Media Group Trading Down 5.4 %

NASDAQ:NXST opened at $162.51 on Friday. The stock’s 50 day moving average price is $190.23 and its 200 day moving average price is $183.04. Nexstar Media Group, Inc. has a 52 week low of $151.01 and a 52 week high of $217.76. The company has a market capitalization of $5.98 billion, a P/E ratio of 6.73, a P/E/G ratio of 1.39 and a beta of 1.51. The company has a debt-to-equity ratio of 2.47, a quick ratio of 1.81 and a current ratio of 1.81.

Nexstar Media Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 24th. Investors of record on Friday, February 10th were issued a $1.35 dividend. The ex-dividend date of this dividend was Thursday, February 9th. This represents a $5.40 dividend on an annualized basis and a yield of 3.32%. This is an increase from Nexstar Media Group’s previous quarterly dividend of $0.90. Nexstar Media Group’s dividend payout ratio is currently 22.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NXST shares. StockNews.com downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Friday, March 3rd. Barrington Research reiterated an “outperform” rating and set a $235.00 price objective on shares of Nexstar Media Group in a report on Wednesday. Finally, Benchmark restated a “buy” rating and issued a $230.00 target price on shares of Nexstar Media Group in a research note on Monday, February 27th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $222.00.

About Nexstar Media Group

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Nexstar Media Group, Inc is a television broadcasting and digital media company, which engages in the acquisition, development, and operation of television stations and interactive community websites and digital media services. The firm offers services free over-the-air programming which includes programs produced by networks with which the stations are affiliated, programs that the stations produce, and first-run and rerun syndicated programs that the stations acquire.