Nexstar Media Group, Inc. (NASDAQ:NXST) Position Trimmed by Savant Capital LLC

Savant Capital LLC trimmed its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 15.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,284 shares of the company’s stock after selling 591 shares during the period. Savant Capital LLC’s holdings in Nexstar Media Group were worth $519,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in Nexstar Media Group in the 3rd quarter worth approximately $25,000. True Wealth Design LLC acquired a new position in Nexstar Media Group in the 3rd quarter worth approximately $30,000. Wilmington Savings Fund Society FSB acquired a new position in Nexstar Media Group in the 3rd quarter worth approximately $33,000. Capital Performance Advisors LLP acquired a new position in Nexstar Media Group in the 3rd quarter worth approximately $44,000. Finally, Quarry LP boosted its stake in Nexstar Media Group by 111.1% in the 3rd quarter. Quarry LP now owns 627 shares of the company’s stock worth $104,000 after purchasing an additional 330 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Brett Jenkins sold 4,331 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $170.64, for a total transaction of $739,041.84. Following the transaction, the insider now owns 25,540 shares in the company, valued at approximately $4,358,145.60. This trade represents a 14.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Perry A. Sook sold 37,025 shares of the firm’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $160.14, for a total transaction of $5,929,183.50. Following the transaction, the chief executive officer now owns 674,694 shares in the company, valued at $108,045,497.16. This represents a 5.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 134,209 shares of company stock worth $21,499,239. 6.30% of the stock is owned by corporate insiders.

Nexstar Media Group Stock Up 1.7 %

Nexstar Media Group stock opened at $153.34 on Monday. The company has a market capitalization of $4.76 billion, a P/E ratio of 8.87, a P/E/G ratio of 0.44 and a beta of 1.45. The firm’s fifty day simple moving average is $156.99 and its 200-day simple moving average is $164.29. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a 1-year low of $147.25 and a 1-year high of $191.86.

Nexstar Media Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be issued a dividend of $1.86 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.85%. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s dividend payout ratio (DPR) is currently 39.10%.

Analysts Set New Price Targets

A number of equities analysts recently commented on NXST shares. Benchmark reaffirmed a “buy” rating and issued a $215.00 price objective on shares of Nexstar Media Group in a research note on Friday, November 8th. Loop Capital lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $200.00 to $190.00 in a research note on Friday, November 8th. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Barrington Research reiterated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, November 7th. Finally, Guggenheim reiterated a “buy” rating on shares of Nexstar Media Group in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $204.29.

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.