Goelzer Investment Management Inc. Has $3.96 Million Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Goelzer Investment Management Inc. reduced its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,924 shares of the company’s stock after selling 281 shares during the quarter. Goelzer Investment Management Inc. owned 0.07% of Nexstar Media Group worth $3,956,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Whittier Trust Co. acquired a new position in shares of Nexstar Media Group during the second quarter valued at about $27,000. Allspring Global Investments Holdings LLC lifted its position in shares of Nexstar Media Group by 3,700.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock worth $44,000 after acquiring an additional 259 shares during the period. GAMMA Investing LLC grew its holdings in shares of Nexstar Media Group by 112.2% during the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock worth $49,000 after purchasing an additional 156 shares in the last quarter. Mascoma Wealth Management LLC bought a new stake in shares of Nexstar Media Group during the second quarter valued at approximately $49,000. Finally, Quarry LP raised its stake in shares of Nexstar Media Group by 77.8% in the second quarter. Quarry LP now owns 297 shares of the company’s stock valued at $49,000 after purchasing an additional 130 shares in the last quarter. 95.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NXST. Guggenheim dropped their price objective on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research note on Friday. Benchmark reaffirmed a “buy” rating and set a $225.00 price objective on shares of Nexstar Media Group in a report on Friday, August 9th. StockNews.com cut Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Friday. Barrington Research reaffirmed 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 dropped their price objective on 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 equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Nexstar Media Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.14.

Insider Buying and Selling at Nexstar Media Group

In related news, CFO Lee Ann Gliha sold 984 shares of Nexstar Media Group stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total value of $155,107.92. Following the completion of the sale, the chief financial officer now directly owns 8,107 shares in the company, valued at $1,277,906.41. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Nexstar Media Group news, CFO Lee Ann Gliha sold 984 shares of the firm’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 transaction, the chief financial officer now directly owns 8,107 shares of the company’s stock, valued at approximately $1,277,906.41. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rachel Morgan sold 6,196 shares of Nexstar Media Group stock in a transaction 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 ninety days, insiders have sold 41,112 shares of company stock worth $6,887,029. Insiders own 5.90% of the company’s stock.

Nexstar Media Group Price Performance

Nexstar Media Group stock traded up $1.61 on Friday, reaching $164.25. The company’s stock had a trading volume of 201,558 shares, compared to its average volume of 329,730. The business’s fifty day moving average price is $167.12 and its 200 day moving average price is $165.88. 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 company has a market cap of $5.41 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 0.19 and a beta of 1.49. Nexstar Media Group, Inc. has a twelve month low of $132.30 and a twelve month high of $187.27.

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

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 4.12%. The ex-dividend date was Friday, August 9th. Nexstar Media Group’s dividend 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.