Russell Investments Group Ltd. Reduces Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Russell Investments Group Ltd. lowered its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 12.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,096 shares of the company’s stock after selling 8,351 shares during the quarter. Russell Investments Group Ltd. owned about 0.17% of Nexstar Media Group worth $9,107,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. OLD Second National Bank of Aurora bought a new stake in shares of Nexstar Media Group during the fourth quarter worth $45,000. Itau Unibanco Holding S.A. bought a new stake in Nexstar Media Group during the 3rd quarter valued at about $65,000. Signaturefd LLC boosted its position in Nexstar Media Group by 20.3% in the 4th quarter. Signaturefd LLC now owns 420 shares of the company’s stock valued at $66,000 after buying an additional 71 shares during the period. Arlington Trust Co LLC bought a new position in Nexstar Media Group in the 4th quarter worth about $81,000. Finally, Huntington National Bank increased its position in shares of Nexstar Media Group by 95.2% during the third quarter. Huntington National Bank now owns 652 shares of the company’s stock worth $93,000 after acquiring an additional 318 shares during the period. Institutional investors own 95.30% of the company’s stock.

Analysts Set New Price Targets

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

Insider Transactions at Nexstar Media Group

In related news, Director Charles Thomas Mcmillen sold 1,475 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $166.00, for a total value of $244,850.00. Following the completion of the transaction, the director now directly owns 4,525 shares of the company’s stock, valued at approximately $751,150. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Nexstar Media Group news, CEO Perry A. Sook sold 31,758 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $158.66, for a total transaction of $5,038,724.28. Following the sale, the chief executive officer now owns 636,788 shares in the company, valued at approximately $101,032,784.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Charles Thomas Mcmillen sold 1,475 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $166.00, for a total transaction of $244,850.00. Following the transaction, the director now directly owns 4,525 shares of the company’s stock, valued at $751,150. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,508 shares of company stock worth $7,487,950. Insiders own 5.90% of the company’s stock.

Nexstar Media Group Stock Up 1.0 %

Shares of Nexstar Media Group stock opened at $168.26 on Tuesday. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 2.90. The company has a market cap of $5.54 billion, a P/E ratio of 17.47, a PEG ratio of 0.62 and a beta of 1.50. The firm’s 50 day moving average price is $164.52 and its 200-day moving average price is $160.23. Nexstar Media Group, Inc. has a 52-week low of $132.30 and a 52-week high of $187.32.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Wednesday, February 28th. The company reported $3.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.42 by ($1.10). Nexstar Media Group had a return on equity of 14.06% and a net margin of 7.03%. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the firm posted $8.04 earnings per share. Nexstar Media Group’s revenue for the quarter was down 12.3% compared to the same quarter last year. On average, sell-side analysts predict that Nexstar Media Group, Inc. will post 26.73 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a $1.69 dividend. This represents a $6.76 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend is Thursday, May 9th. Nexstar Media Group’s dividend payout ratio is presently 70.20%.

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.