Hussman Strategic Advisors Inc. Trims Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Hussman Strategic Advisors Inc. reduced its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 19.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,500 shares of the company’s stock after selling 2,500 shares during the quarter. Hussman Strategic Advisors Inc.’s holdings in Nexstar Media Group were worth $1,646,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brown Brothers Harriman & Co. purchased a new position in shares of Nexstar Media Group in the 1st quarter worth about $26,000. OLD Second National Bank of Aurora purchased a new position in shares of Nexstar Media Group in the 4th quarter worth about $45,000. Itau Unibanco Holding S.A. purchased a new position in shares of Nexstar Media Group in the 3rd quarter worth about $65,000. Signaturefd LLC boosted its holdings in Nexstar Media Group by 20.3% during the 4th quarter. Signaturefd LLC now owns 420 shares of the company’s stock valued at $66,000 after acquiring an additional 71 shares during the period. Finally, Arlington Trust Co LLC purchased a new stake in Nexstar Media Group during the 4th quarter valued at about $81,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, Director Dennis J. Fitzsimons sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $170.82, for a total transaction of $341,640.00. Following the completion of the transaction, the director now owns 12,027 shares of the company’s stock, valued at approximately $2,054,452.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Dennis J. Fitzsimons sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $170.82, for a total value of $341,640.00. Following the completion of the transaction, the director now owns 12,027 shares of the company’s stock, valued at approximately $2,054,452.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lisbeth Mcnabb sold 3,175 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $168.00, for a total value of $533,400.00. Following the completion of the transaction, the director now directly owns 5,252 shares of the company’s stock, valued at approximately $882,336. The disclosure for this sale can be found here. Insiders sold 46,508 shares of company stock valued at $7,487,950 in the last 90 days. Insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Barrington Research restated an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, March 7th. Rosenblatt Securities dropped their target price on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Finally, TheStreet upgraded Nexstar Media Group from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $193.83.

Nexstar Media Group Trading Up 2.0 %

NXST opened at $165.25 on Monday. The business has a 50 day simple moving average of $165.83 and a two-hundred day simple moving average of $158.53. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 0.62 and a beta of 1.50. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.53 and a quick ratio of 1.53. Nexstar Media Group, Inc. has a one year low of $132.30 and a one year high of $187.32.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Wednesday, February 28th. The company reported $3.32 EPS for the quarter, missing analysts’ consensus estimates of $4.42 by ($1.10). The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.32 billion. Nexstar Media Group had a net margin of 7.03% and a return on equity of 14.06%. The company’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same period in the previous year, the company earned $8.04 EPS. Analysts predict that Nexstar Media Group, Inc. will post 26.73 EPS for the current year.

Nexstar Media Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were given a dividend of $1.69 per share. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.76 dividend on an annualized basis and a yield of 4.09%. Nexstar Media Group’s dividend payout ratio is presently 70.20%.

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.