Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. trimmed its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 37.9% in the fourth quarter, Holdings Channel reports. The firm owned 247 shares of the company’s stock after selling 151 shares during the period. First Horizon Advisors Inc.’s holdings in Nexstar Media Group were worth $39,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NXST. Pacer Advisors Inc. increased its position in shares of Nexstar Media Group by 27,180.2% during the 4th quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company’s stock worth $190,650,000 after purchasing an additional 1,202,453 shares during the last quarter. Payden & Rygel increased its position in shares of Nexstar Media Group by 40.4% during the 3rd quarter. Payden & Rygel now owns 110,200 shares of the company’s stock worth $18,222,000 after purchasing an additional 31,700 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of Nexstar Media Group during the 3rd quarter worth about $3,747,000. SGL Investment Advisors Inc. acquired a new stake in shares of Nexstar Media Group during the 3rd quarter worth about $3,758,000. Finally, Stifel Financial Corp increased its position in shares of Nexstar Media Group by 136.8% during the 3rd quarter. Stifel Financial Corp now owns 30,355 shares of the company’s stock worth $5,019,000 after purchasing an additional 17,535 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group Stock Performance

Shares of Nexstar Media Group stock opened at $162.58 on Friday. Nexstar Media Group, Inc. has a one year low of $146.04 and a one year high of $191.86. The company has a market cap of $5.04 billion, a PE ratio of 9.40, a P/E/G ratio of 0.45 and a beta of 1.45. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The business has a 50-day simple moving average of $155.08 and a 200-day simple moving average of $163.29.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, February 27th. The company reported $7.56 EPS for the quarter, missing analysts’ consensus estimates of $9.22 by ($1.66). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.48 billion. On average, equities research analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a dividend of $1.86 per share. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date was Wednesday, February 12th. This represents a $7.44 annualized dividend and a yield of 4.58%. Nexstar Media Group’s payout ratio is presently 43.03%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NXST. Loop Capital downgraded Nexstar Media Group from a “buy” rating to a “hold” rating and cut their price objective for the stock from $200.00 to $190.00 in a research report on Friday, November 8th. Guggenheim reaffirmed a “buy” rating on shares of Nexstar Media Group in a research report on Wednesday, January 22nd. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Benchmark reaffirmed a “buy” rating and issued a $215.00 target price on shares of Nexstar Media Group in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $204.29.

Insider Buying and Selling

In other Nexstar Media Group news, CEO Perry A. Sook sold 35,205 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $162.13, for a total value of $5,707,786.65. Following the sale, the chief executive officer now owns 674,694 shares of the company’s stock, valued at approximately $109,388,138.22. This represents a 4.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles Thomas Mcmillen sold 750 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $159.93, for a total value of $119,947.50. Following the completion of the sale, the director now directly owns 6,975 shares in the company, valued at $1,115,511.75. This trade represents a 9.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,493 shares of company stock worth $20,354,366 over the last 90 days. 6.30% of the stock is owned by insiders.

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.