Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. decreased its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 36.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,384 shares of the company’s stock after selling 1,350 shares during the period. Federated Hermes Inc.’s holdings in Nexstar Media Group were worth $396,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NXST. Capital Research Global Investors bought a new stake in Nexstar Media Group during the first quarter worth approximately $92,323,000. Point72 Asset Management L.P. lifted its holdings in shares of Nexstar Media Group by 392.6% in the fourth quarter. Point72 Asset Management L.P. now owns 450,351 shares of the company’s stock valued at $70,593,000 after buying an additional 358,920 shares during the period. Norges Bank bought a new position in Nexstar Media Group during the fourth quarter valued at about $51,812,000. Vanguard Group Inc. grew its holdings in Nexstar Media Group by 3.9% during the first quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock worth $580,689,000 after acquiring an additional 127,783 shares during the period. Finally, Payden & Rygel Investment Group bought a new stake in Nexstar Media Group in the first quarter worth about $15,144,000. 95.30% of the stock is currently owned by institutional investors.

Nexstar Media Group Stock Performance

Shares of NXST stock opened at $165.74 on Tuesday. The stock’s fifty day simple moving average is $169.57 and its 200-day simple moving average is $165.90. The company has a market capitalization of $5.46 billion, a price-to-earnings ratio of 14.02, a P/E/G ratio of 0.18 and a beta of 1.49. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 2.92. 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 posted its quarterly earnings results on Thursday, August 8th. The company reported $3.54 earnings per share (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 company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the company earned $2.64 earnings per share. Nexstar Media Group’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, sell-side analysts predict that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a dividend yield of 4.08%. The ex-dividend date was Friday, August 9th. Nexstar Media Group’s dividend payout ratio is currently 57.19%.

Insider Transactions at Nexstar Media Group

In related news, EVP Blake Russell sold 2,782 shares of Nexstar Media Group stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $169.92, for a total transaction of $472,717.44. Following the completion of the sale, the executive vice president now owns 22,329 shares of the company’s stock, valued at $3,794,143.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Jay M. Grossman sold 10,000 shares of Nexstar Media Group stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $170.70, for a total value of $1,707,000.00. Following the completion of the sale, the director now owns 54,625 shares of the company’s stock, valued at approximately $9,324,487.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Blake Russell sold 2,782 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $169.92, for a total transaction of $472,717.44. Following the transaction, the executive vice president now directly owns 22,329 shares in the company, valued at $3,794,143.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,426 shares of company stock valued at $5,116,478. 5.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NXST shares. Barrington Research restated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, August 8th. Wells Fargo & Company dropped their price target 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. Deutsche Bank Aktiengesellschaft reduced 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. Benchmark reaffirmed a “buy” rating and set a $225.00 target price on shares of Nexstar Media Group in a research report on Friday, August 9th. Finally, StockNews.com lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $201.67.

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.