Envestnet Asset Management Inc. Has $16.69 Million Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Envestnet Asset Management Inc. lowered its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 6.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,521 shares of the company’s stock after selling 7,405 shares during the period. Envestnet Asset Management Inc. owned about 0.31% of Nexstar Media Group worth $16,688,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Quadrant Capital Group LLC increased its position in shares of Nexstar Media Group by 41.1% in the fourth quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock valued at $46,000 after acquiring an additional 86 shares during the last quarter. Personal CFO Solutions LLC increased its position in shares of Nexstar Media Group by 7.1% during the 4th quarter. Personal CFO Solutions LLC now owns 3,066 shares of the company’s stock worth $481,000 after purchasing an additional 202 shares during the last quarter. Chicago Partners Investment Group LLC bought a new stake in shares of Nexstar Media Group during the 4th quarter worth approximately $232,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Nexstar Media Group in the 1st quarter valued at approximately $2,111,000. Finally, Vanguard Group Inc. grew its stake in shares of Nexstar Media Group by 3.9% in the first quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock valued at $580,689,000 after buying an additional 127,783 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Sean Compton sold 3,930 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 10,684 shares in the company, valued at approximately $1,715,957.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Sean Compton sold 3,930 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $160.61, for a total transaction of $631,197.30. Following the completion of the sale, the insider now owns 10,684 shares of the company’s stock, valued at approximately $1,715,957.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Rachel Morgan sold 6,196 shares of Nexstar Media Group stock in a transaction that occurred on 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 have sold a total of 30,426 shares of company stock worth $5,116,478 in the last 90 days. Company insiders own 5.90% of the company’s stock.

Nexstar Media Group Stock Performance

NXST opened at $167.58 on Wednesday. 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 company has a market capitalization of $5.52 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 0.18 and a beta of 1.49. The business has a fifty day simple moving average of $169.32 and a 200 day simple moving average of $165.93. Nexstar Media Group, Inc. has a 1 year low of $132.30 and a 1 year high of $187.27.

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

Nexstar Media Group Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have commented on NXST shares. Barrington Research reiterated an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reduced 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. StockNews.com lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Benchmark reiterated a “buy” rating and set a $225.00 target price on shares of Nexstar Media Group in a research note on Friday, August 9th. Finally, Wells Fargo & Company decreased their target price on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Nexstar Media Group currently has an average rating of “Moderate Buy” and a consensus target price of $201.67.

Nexstar Media Group Company 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.