Amalgamated Bank Sells 2,566 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Amalgamated Bank lowered its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 11.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,695 shares of the company’s stock after selling 2,566 shares during the quarter. Amalgamated Bank owned 0.06% of Nexstar Media Group worth $3,270,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Whittier Trust Co. purchased a new position in Nexstar Media Group during the 2nd quarter worth $27,000. EverSource Wealth Advisors LLC lifted its position in shares of Nexstar Media Group by 632.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock valued at $32,000 after purchasing an additional 177 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Nexstar Media Group by 3,700.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock worth $44,000 after purchasing an additional 259 shares during the last quarter. Quadrant Capital Group LLC grew its position in Nexstar Media Group by 41.1% in the 4th quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock worth $46,000 after purchasing an additional 86 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Nexstar Media Group by 112.2% in the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock valued at $49,000 after buying an additional 156 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Sean Compton sold 3,930 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $160.61, for a total transaction of $631,197.30. Following the sale, the insider now owns 10,684 shares of the company’s stock, valued at approximately $1,715,957.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Blake Russell sold 2,782 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 22,329 shares in the company, valued at $3,794,143.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Sean Compton sold 3,930 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $160.61, for a total value of $631,197.30. Following the completion of the sale, the insider now directly owns 10,684 shares in the company, valued at approximately $1,715,957.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,426 shares of company stock worth $5,116,478. 5.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NXST has been the topic of a number of research analyst reports. StockNews.com downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Barrington Research reissued an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Wells Fargo & Company reduced their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Finally, Benchmark reaffirmed a “buy” rating and issued a $225.00 price target on shares of Nexstar Media Group in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $201.67.

Nexstar Media Group Stock Down 0.4 %

Nexstar Media Group stock opened at $165.74 on Tuesday. The firm has a 50 day simple moving average of $169.57 and a 200 day simple moving average of $165.90. 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. The firm 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.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data 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 net margin of 8.68% and a return on equity of 18.65%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the firm posted $2.64 earnings per share. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, analysts predict that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a $1.69 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.08%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 57.19%.

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.