Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Global Financial Private Client LLC

Global Financial Private Client LLC decreased its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 92.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 310 shares of the company’s stock after selling 3,729 shares during the quarter. Global Financial Private Client LLC’s holdings in Nexstar Media Group were worth $49,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Brooklyn Investment Group acquired a new position in shares of Nexstar Media Group in the 3rd quarter valued at approximately $25,000. True Wealth Design LLC bought a new stake in shares of Nexstar Media Group in the third quarter worth $30,000. Wilmington Savings Fund Society FSB acquired a new stake in Nexstar Media Group in the third quarter valued at $33,000. Capital Performance Advisors LLP bought a new position in Nexstar Media Group during the 3rd quarter valued at $44,000. Finally, Quarry LP grew its holdings in Nexstar Media Group by 77.8% during the 2nd quarter. Quarry LP now owns 297 shares of the company’s stock worth $49,000 after acquiring an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 750 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $159.93, for a total transaction of $119,947.50. Following the transaction, the director now owns 6,975 shares of the company’s stock, valued at approximately $1,115,511.75. This trade represents a 9.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Perry A. Sook sold 52,808 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $157.41, for a total transaction of $8,312,507.28. Following the sale, the chief executive officer now owns 674,694 shares in the company, valued at $106,203,582.54. This trade represents a 7.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 146,448 shares of company stock worth $23,828,076 in the last three months. 6.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NXST shares. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Loop Capital cut Nexstar Media Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $200.00 to $190.00 in a research note on Friday, November 8th. Barrington Research reiterated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, November 7th. Guggenheim dropped their price target on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Finally, Benchmark reaffirmed a “buy” rating and issued a $215.00 price objective on shares of Nexstar Media Group in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $204.29.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST opened at $151.98 on Wednesday. Nexstar Media Group, Inc. has a 1-year low of $147.25 and a 1-year high of $191.86. The firm has a market capitalization of $4.71 billion, a PE ratio of 8.79, a P/E/G ratio of 0.20 and a beta of 1.45. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. The business’s fifty day moving average price is $164.95 and its two-hundred day moving average price is $167.77.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, November 7th. The company reported $5.27 earnings per share 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 firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, research analysts expect that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.

Nexstar Media Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend was Friday, November 15th. Nexstar Media Group’s dividend payout ratio (DPR) is 39.10%.

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.