Commonwealth Equity Services LLC Cuts Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Commonwealth Equity Services LLC cut its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 48.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,744 shares of the company’s stock after selling 5,302 shares during the period. Commonwealth Equity Services LLC’s holdings in Nexstar Media Group were worth $954,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Nexstar Media Group by 7.7% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 105,804 shares of the company’s stock worth $17,565,000 after purchasing an additional 7,532 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Nexstar Media Group by 5.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,311 shares of the company’s stock valued at $1,214,000 after buying an additional 365 shares in the last quarter. Whittier Trust Co. acquired a new position in shares of Nexstar Media Group during the second quarter worth $27,000. OmniStar Financial Group Inc. lifted its holdings in Nexstar Media Group by 7.2% in the 2nd quarter. OmniStar Financial Group Inc. now owns 3,698 shares of the company’s stock worth $614,000 after buying an additional 248 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. grew its stake in shares of Nexstar Media Group by 0.6% during the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,903 shares of the company’s stock valued at $2,308,000 after acquiring an additional 87 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Nexstar Media Group

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 1,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $160.00, for a total transaction of $160,000.00. Following the completion of the transaction, the director now directly owns 7,975 shares of the company’s stock, valued at approximately $1,276,000. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Charles Thomas Mcmillen sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $160.00, for a total transaction of $160,000.00. Following the completion of the transaction, the director now owns 7,975 shares in the company, valued at approximately $1,276,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Rachel Morgan sold 6,196 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $171.30, for a total transaction of $1,061,374.80. The disclosure for this sale can be found here. In the last three months, insiders sold 17,644 shares of company stock valued at $2,936,760. Company insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

NXST has been the subject of a number of recent analyst reports. Barrington Research reissued an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, August 8th. StockNews.com lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Wells Fargo & Company decreased their price target on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Benchmark restated a “buy” rating and set a $225.00 price objective on shares of Nexstar Media Group in a research note on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $201.67.

Nexstar Media Group Trading Up 1.5 %

NASDAQ:NXST opened at $169.02 on Wednesday. Nexstar Media Group, Inc. has a 12-month low of $132.30 and a 12-month high of $187.27. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.78 and a quick ratio of 1.78. The business has a 50 day simple moving average of $170.04 and a 200 day simple moving average of $165.64. The firm has a market capitalization of $5.57 billion, a P/E ratio of 14.30, a P/E/G ratio of 0.18 and a beta of 1.50.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, August 8th. The company reported $3.54 EPS for the quarter, missing the consensus estimate of $4.48 by ($0.94). The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.28 billion. Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. Nexstar Media Group’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.64 EPS. Equities research analysts predict that Nexstar Media Group, Inc. will post 25.72 EPS for the current year.

Nexstar Media Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a dividend of $1.69 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.76 annualized dividend and a yield of 4.00%. Nexstar Media Group’s payout ratio is 57.19%.

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.