Mutual of America Capital Management LLC Has $2.43 Million Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Mutual of America Capital Management LLC cut its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,404 shares of the company’s stock after selling 985 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Nexstar Media Group were worth $2,433,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NXST. QRG Capital Management Inc. lifted its stake in Nexstar Media Group by 7.6% in the third quarter. QRG Capital Management Inc. now owns 4,532 shares of the company’s stock valued at $749,000 after buying an additional 322 shares during the period. Olympiad Research LP acquired a new position in Nexstar Media Group in the third quarter valued at approximately $265,000. Capital Performance Advisors LLP acquired a new position in Nexstar Media Group in the third quarter valued at approximately $44,000. CWA Asset Management Group LLC bought a new stake in shares of Nexstar Media Group during the third quarter valued at approximately $312,000. Finally, Verdence Capital Advisors LLC bought a new stake in shares of Nexstar Media Group during the third quarter valued at approximately $1,342,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NXST has been the subject of several recent research reports. Guggenheim boosted their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a report on Friday, February 28th. Benchmark boosted their price objective on Nexstar Media Group from $200.00 to $225.00 and gave the company a “buy” rating in a report on Friday, February 28th. Loop Capital upgraded Nexstar Media Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $190.00 to $200.00 in a report on Friday, February 28th. Barrington Research restated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Wednesday. Finally, StockNews.com downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $210.29.

Nexstar Media Group Stock Up 3.0 %

Shares of NASDAQ:NXST opened at $177.85 on Friday. The company has a market capitalization of $5.52 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 0.45 and a beta of 1.45. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. The business has a fifty day moving average price of $156.23 and a two-hundred day moving average price of $163.70. Nexstar Media Group, Inc. has a 1 year low of $146.04 and a 1 year high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.22 by ($1.66). The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.48 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. Analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date was Wednesday, February 12th. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s dividend payout ratio is currently 34.56%.

Insider Activity

In other news, Director Lisbeth Mcnabb sold 875 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $172.00, for a total transaction of $150,500.00. Following the transaction, the director now owns 5,752 shares of the company’s stock, valued at $989,344. This represents a 13.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gary Weitman sold 1,241 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $177.21, for a total value of $219,917.61. Following the transaction, the insider now directly owns 3,975 shares in the company, valued at $704,409.75. This represents a 23.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 162,830 shares of company stock valued at $26,391,128 in the last 90 days. Insiders own 6.30% of the company’s stock.

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.