Kendall Capital Management Sells 3,410 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Kendall Capital Management reduced its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 23.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 11,114 shares of the company’s stock after selling 3,410 shares during the period. Kendall Capital Management’s holdings in Nexstar Media Group were worth $1,845,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Granite Group Advisors LLC lifted its holdings in shares of Nexstar Media Group by 5.1% during the 1st quarter. Granite Group Advisors LLC now owns 1,489 shares of the company’s stock worth $257,000 after acquiring an additional 72 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Nexstar Media Group by 41.1% during the 4th quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock worth $46,000 after acquiring an additional 86 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. lifted its holdings in shares of Nexstar Media Group by 0.6% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,903 shares of the company’s stock worth $2,308,000 after acquiring an additional 87 shares during the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of Nexstar Media Group by 2.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 4,217 shares of the company’s stock worth $700,000 after acquiring an additional 96 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in shares of Nexstar Media Group by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 40,479 shares of the company’s stock worth $6,974,000 after acquiring an additional 107 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, insider Sean Compton sold 3,930 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $160.61, for a total value of $631,197.30. Following the transaction, the insider now owns 10,684 shares in the company, valued at $1,715,957.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Sean Compton sold 3,930 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $160.61, for a total transaction of $631,197.30. Following the transaction, the insider now owns 10,684 shares in the company, valued at $1,715,957.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Rachel Morgan sold 6,196 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were 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. Over the last quarter, insiders have sold 27,644 shares of company stock worth $4,643,760. 5.90% of the stock is currently owned by company insiders.

Nexstar Media Group Price Performance

NXST stock opened at $167.92 on Thursday. The firm’s 50-day moving average price is $170.08 and its two-hundred day moving average price is $165.68. Nexstar Media Group, Inc. has a 12-month low of $132.30 and a 12-month high of $187.27. The stock has a market capitalization of $5.53 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 0.18 and a beta of 1.50. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 2.92.

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

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date was Friday, August 9th. Nexstar Media Group’s payout ratio is 57.19%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Benchmark reissued a “buy” rating and issued a $225.00 price target on shares of Nexstar Media Group in a research note on Friday, August 9th. Wells Fargo & Company lowered their price target on shares of 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. StockNews.com downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Barrington Research reissued an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average 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.