Franklin Resources Inc. Sells 157 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Franklin Resources Inc. cut its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 3.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,132 shares of the company’s stock after selling 157 shares during the period. Franklin Resources Inc.’s holdings in Nexstar Media Group were worth $865,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NXST. Brooklyn Investment Group purchased a new stake in shares of Nexstar Media Group in the 3rd quarter worth $25,000. True Wealth Design LLC purchased a new stake in Nexstar Media Group in the 3rd quarter worth approximately $30,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Nexstar Media Group in the third quarter worth $33,000. Allspring Global Investments Holdings LLC increased its stake in 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 buying an additional 259 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in Nexstar Media Group during the third quarter valued at about $44,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, CEO Perry A. Sook sold 12,239 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $190.28, for a total value of $2,328,836.92. Following the completion of the transaction, the chief executive officer now directly owns 674,694 shares in the company, valued at approximately $128,380,774.32. The trade was a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lisbeth Mcnabb sold 875 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $172.00, for a total transaction of $150,500.00. Following the sale, the director now directly owns 5,752 shares of the company’s stock, valued at approximately $989,344. The trade was a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 146,448 shares of company stock valued at $23,828,076. Company insiders own 6.30% of the company’s stock.

Nexstar Media Group Stock Performance

NXST stock opened at $159.14 on Monday. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 0.20 and a beta of 1.45. The business’s fifty day simple moving average is $168.39 and its two-hundred day simple moving average is $167.47. Nexstar Media Group, Inc. has a twelve month low of $147.25 and a twelve month high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.70 EPS. Analysts predict that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date was Friday, November 15th. Nexstar Media Group’s dividend payout ratio (DPR) is 39.10%.

Wall Street Analysts Forecast Growth

NXST has been the topic of several recent analyst reports. Guggenheim decreased their target price on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Benchmark reiterated a “buy” rating and issued a $215.00 price target on shares of Nexstar Media Group in a report on Friday, November 8th. Loop Capital downgraded Nexstar Media Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $200.00 to $190.00 in a research report on Friday, November 8th. Barrington Research reiterated an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, November 7th. Finally, StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $204.29.

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.