Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 7.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 17,859 shares of the company’s stock after selling 1,347 shares during the period. Mutual of America Capital Management LLC owned approximately 0.05% of Nexstar Media Group worth $2,965,000 at the end of the most recent quarter.

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

In related news, insider Sean Compton sold 3,930 shares of Nexstar Media Group stock in a transaction that occurred on Friday, August 16th. The stock was 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 document filed with the SEC, which is accessible through this link. In related news, insider Sean Compton sold 3,930 shares of the company’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 completion of the sale, the insider now owns 10,684 shares of the company’s stock, valued at $1,715,957.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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. Insiders sold 30,426 shares of company stock worth $5,116,478 over the last ninety days. Corporate insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

NXST has been the subject of a number of recent analyst reports. Benchmark reaffirmed a “buy” rating and issued a $225.00 price objective on shares of Nexstar Media Group in a report on Friday, August 9th. Wells Fargo & Company reduced their price target on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Barrington Research reiterated 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 cut Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock 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 stock. Based on data from MarketBeat.com, Nexstar Media Group currently has an average rating of “Moderate Buy” and an average target price of $201.67.

Nexstar Media Group Stock Down 0.4 %

Shares of NXST opened at $165.74 on Tuesday. The stock has a 50 day moving average price of $169.57 and a 200 day moving average price of $165.90. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78. The stock has a market capitalization of $5.46 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 0.18 and a beta of 1.49. Nexstar Media Group, Inc. has a one year low of $132.30 and a one year high of $187.27.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results 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). The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. Nexstar Media Group’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.64 EPS. Equities research 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 business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a dividend yield of 4.08%. The ex-dividend date was Friday, August 9th. Nexstar Media Group’s dividend payout ratio is currently 57.19%.

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.