Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp lessened its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 3.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,143 shares of the company’s stock after selling 1,188 shares during the quarter. King Luther Capital Management Corp owned 0.10% of Nexstar Media Group worth $5,480,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. GSA Capital Partners LLP boosted its position in shares of Nexstar Media Group by 211.2% during the 3rd quarter. GSA Capital Partners LLP now owns 6,195 shares of the company’s stock worth $1,024,000 after purchasing an additional 4,204 shares during the period. Vanguard Group Inc. lifted its stake in Nexstar Media Group by 3.9% during the first quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock worth $580,689,000 after purchasing an additional 127,783 shares in the last quarter. Quest Partners LLC boosted its position in shares of Nexstar Media Group by 661.4% during the third quarter. Quest Partners LLC now owns 8,672 shares of the company’s stock worth $1,434,000 after buying an additional 7,533 shares during the period. Cornercap Investment Counsel Inc. acquired a new stake in shares of Nexstar Media Group in the second quarter valued at $570,000. Finally, AQR Capital Management LLC raised its holdings in shares of Nexstar Media Group by 72.0% in the 2nd quarter. AQR Capital Management LLC now owns 199,811 shares of the company’s stock valued at $32,769,000 after buying an additional 83,637 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Nexstar Media Group Trading Up 1.4 %

Shares of NASDAQ:NXST opened at $169.12 on Friday. Nexstar Media Group, Inc. has a 52 week low of $141.38 and a 52 week high of $191.86. The company’s 50 day moving average is $168.93 and its two-hundred day moving average is $167.15. The company has a market cap of $5.25 billion, a PE ratio of 9.78, a P/E/G ratio of 0.20 and a beta of 1.48. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing the consensus estimate of $5.51 by ($0.24). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period last year, the company earned $0.70 EPS. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. Equities analysts predict that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a dividend yield of 4.00%. The ex-dividend date is Friday, November 15th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 39.10%.

Insider Buying and Selling

In other news, Director Charles Thomas Mcmillen sold 1,000 shares of Nexstar Media Group stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $160.00, for a total transaction of $160,000.00. Following the sale, the director now owns 7,975 shares in the company, valued at approximately $1,276,000. The trade was a 11.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Perry A. Sook sold 12,239 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $190.28, for a total value of $2,328,836.92. Following the completion of the sale, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at approximately $128,380,774.32. This trade represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,903 shares of company stock worth $7,833,240 over the last 90 days. 6.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Guggenheim lowered their target price on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a report on Friday, October 4th. Barrington Research reissued an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, November 7th. Wells Fargo & Company cut their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Benchmark reissued a “buy” rating and issued a $215.00 price target on shares of Nexstar Media Group in a research report on Friday, November 8th. Finally, StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $198.50.

About Nexstar Media Group

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.