Victory Capital Management Inc. Sells 10,821 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Victory Capital Management Inc. cut its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 42.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,500 shares of the company’s stock after selling 10,821 shares during the quarter. Victory Capital Management Inc.’s holdings in Nexstar Media Group were worth $2,407,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Whittier Trust Co. bought a new stake in shares of Nexstar Media Group in the second quarter valued at about $27,000. EverSource Wealth Advisors LLC boosted its holdings in Nexstar Media Group by 632.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock valued at $32,000 after purchasing an additional 177 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Nexstar Media Group by 3,700.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock worth $44,000 after purchasing an additional 259 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Nexstar Media Group by 41.1% during the fourth quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock worth $46,000 after purchasing an additional 86 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Nexstar Media Group by 112.2% in the second quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock valued at $49,000 after buying an additional 156 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, CFO Lee Ann Gliha sold 984 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total value of $155,107.92. Following the completion of the transaction, the chief financial officer now directly owns 8,107 shares in the company, valued at approximately $1,277,906.41. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director D Geoffrey Armstrong sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $166.38, for a total value of $332,760.00. Following the sale, the director now directly owns 7,250 shares in the company, valued at $1,206,255. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Lee Ann Gliha sold 984 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total transaction of $155,107.92. Following the sale, the chief financial officer now directly owns 8,107 shares of the company’s stock, valued at approximately $1,277,906.41. The disclosure for this sale can be found here. Insiders sold a total of 17,644 shares of company stock worth $2,936,760 in the last quarter. 5.90% of the stock is owned by insiders.

Nexstar Media Group Stock Performance

Shares of Nexstar Media Group stock opened at $169.02 on Wednesday. The company’s 50 day moving average price is $170.04 and its two-hundred day moving average price is $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, Inc. has a fifty-two week low of $132.30 and a fifty-two week 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.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.28 billion. Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The company’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.64 EPS. On average, equities analysts forecast that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

NXST has been the topic of a number of analyst reports. Benchmark reissued a “buy” rating and set a $225.00 price target on shares of Nexstar Media Group in a research report on Friday, August 9th. Barrington Research reissued an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft decreased their price target on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Wells Fargo & Company cut their price objective on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Finally, StockNews.com lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Tuesday. Two investment 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.67.

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.