Hancock Whitney Corp Sells 300 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Hancock Whitney Corp cut its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 12.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,188 shares of the company’s stock after selling 300 shares during the quarter. Hancock Whitney Corp’s holdings in Nexstar Media Group were worth $363,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Granite Group Advisors LLC lifted its stake in Nexstar Media Group by 5.1% during the first quarter. Granite Group Advisors LLC now owns 1,489 shares of the company’s stock worth $257,000 after purchasing an additional 72 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of Nexstar Media Group by 41.1% during the 4th quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock worth $46,000 after buying an additional 86 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. lifted its position in shares of Nexstar Media Group by 0.6% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,903 shares of the company’s stock worth $2,308,000 after buying an additional 87 shares during the last quarter. SummerHaven Investment Management LLC boosted its stake in Nexstar Media Group by 2.3% in the second quarter. SummerHaven Investment Management LLC now owns 4,217 shares of the company’s stock valued at $700,000 after buying an additional 96 shares in the last quarter. Finally, Retirement Systems of Alabama grew its position in Nexstar Media Group by 0.3% in the first quarter. Retirement Systems of Alabama now owns 40,479 shares of the company’s stock valued at $6,974,000 after acquiring an additional 107 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Insider Buying and Selling at Nexstar Media Group

In other news, Director Jay M. Grossman sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $170.70, for a total value of $1,707,000.00. Following the completion of the transaction, the director now directly owns 54,625 shares of the company’s stock, valued at $9,324,487.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Lee Ann Gliha sold 984 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total value of $155,107.92. Following the transaction, the chief financial officer now directly owns 8,107 shares of the company’s stock, valued at approximately $1,277,906.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jay M. Grossman sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $170.70, for a total transaction of $1,707,000.00. Following the sale, the director now owns 54,625 shares of the company’s stock, valued at approximately $9,324,487.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,426 shares of company stock worth $5,116,478. Insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Nexstar Media Group Stock Down 0.4 %

NXST stock opened at $165.74 on Tuesday. The firm has a market capitalization of $5.46 billion, a PE ratio of 14.02, a P/E/G ratio of 0.18 and a beta of 1.49. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 2.92. Nexstar Media Group, Inc. has a twelve month low of $132.30 and a twelve month high of $187.27. The stock’s 50 day moving average is $169.57 and its 200-day moving average is $165.90.

Nexstar Media Group (NASDAQ:NXST) last posted 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 return on equity of 18.65% and a net margin of 8.68%. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the firm earned $2.64 earnings per share. Nexstar Media Group’s revenue was up 2.3% compared to the same quarter last year. Sell-side analysts expect that Nexstar Media Group, Inc. will post 25.72 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

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