Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by American International Group Inc.

American International Group Inc. decreased its holdings in Nexstar Media Group, Inc. (NASDAQ:NXSTFree Report) by 7.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 43,651 shares of the company’s stock after selling 3,419 shares during the quarter. American International Group Inc.’s holdings in Nexstar Media Group were worth $6,842,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Pathstone Family Office LLC purchased a new position in Nexstar Media Group during the 3rd quarter worth approximately $333,000. Huntington National Bank grew its position in Nexstar Media Group by 95.2% during the 3rd quarter. Huntington National Bank now owns 652 shares of the company’s stock worth $93,000 after purchasing an additional 318 shares in the last quarter. State of New Jersey Common Pension Fund D grew its position in Nexstar Media Group by 7.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 19,806 shares of the company’s stock worth $2,840,000 after purchasing an additional 1,369 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in Nexstar Media Group by 15.8% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,259 shares of the company’s stock worth $467,000 after purchasing an additional 445 shares in the last quarter. Finally, Rhumbline Advisers grew its position in Nexstar Media Group by 12.2% during the 3rd quarter. Rhumbline Advisers now owns 121,463 shares of the company’s stock worth $17,414,000 after purchasing an additional 13,253 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

NXST has been the topic of several research analyst reports. Barrington Research reiterated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, May 9th. Rosenblatt Securities lowered their price objective on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. Benchmark restated a “buy” rating and set a $225.00 price target on shares of Nexstar Media Group in a report on Friday, May 10th. Wells Fargo & Company upgraded shares of Nexstar Media Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $190.00 to $221.00 in a report on Monday, May 13th. Finally, Loop Capital upgraded shares of Nexstar Media Group to a “strong-buy” rating in a report on Friday, May 10th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $206.00.

Check Out Our Latest Report on NXST

Nexstar Media Group Trading Down 1.7 %

Nexstar Media Group stock opened at $153.82 on Tuesday. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 2.85. Nexstar Media Group, Inc. has a 12 month low of $132.30 and a 12 month high of $187.32. The company’s fifty day simple moving average is $164.34 and its 200-day simple moving average is $163.50. The stock has a market cap of $5.05 billion, a P/E ratio of 13.01, a P/E/G ratio of 0.57 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXSTGet Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.28 by $0.88. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the previous year, the business earned $2.97 EPS. Nexstar Media Group’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Nexstar Media Group, Inc. will post 27.62 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were paid a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 4.39%. The ex-dividend date was Thursday, May 9th. Nexstar Media Group’s payout ratio is presently 57.19%.

Insider Activity at Nexstar Media Group

In related news, Director Lisbeth Mcnabb sold 3,175 shares of Nexstar Media Group stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $168.00, for a total value of $533,400.00. Following the completion of the sale, the director now owns 5,252 shares of the company’s stock, valued at approximately $882,336. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Nexstar Media Group news, EVP Blake Russell sold 433 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $167.43, for a total transaction of $72,497.19. Following the completion of the transaction, the executive vice president now owns 25,537 shares of the company’s stock, valued at approximately $4,275,659.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lisbeth Mcnabb sold 3,175 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $168.00, for a total transaction of $533,400.00. Following 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. In the last 90 days, insiders sold 13,009 shares of company stock valued at $2,166,731. Insiders own 5.90% of the company’s stock.

Nexstar Media Group Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding NXST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nexstar Media Group, Inc. (NASDAQ:NXSTFree Report).

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

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