Wedge Capital Management L L P NC Sells 241 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Wedge Capital Management L L P NC cut its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,276 shares of the company’s stock after selling 241 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Nexstar Media Group were worth $4,589,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. HighTower Advisors LLC increased its stake in shares of Nexstar Media Group by 2.9% during the 3rd quarter. HighTower Advisors LLC now owns 190,972 shares of the company’s stock worth $27,322,000 after purchasing an additional 5,389 shares during the last quarter. Copeland Capital Management LLC increased its stake in shares of Nexstar Media Group by 15.3% during the 3rd quarter. Copeland Capital Management LLC now owns 502,639 shares of the company’s stock worth $72,063,000 after purchasing an additional 66,645 shares during the last quarter. Boston Financial Mangement LLC grew its stake in Nexstar Media Group by 156.5% in the 3rd quarter. Boston Financial Mangement LLC now owns 238,670 shares of the company’s stock valued at $34,218,000 after buying an additional 145,617 shares during the last quarter. American Century Companies Inc. grew its stake in Nexstar Media Group by 519.6% in the 3rd quarter. American Century Companies Inc. now owns 51,659 shares of the company’s stock valued at $7,406,000 after buying an additional 43,322 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its stake in Nexstar Media Group by 72.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 12,182 shares of the company’s stock valued at $1,747,000 after buying an additional 5,121 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NXST. TheStreet upgraded shares of Nexstar Media Group from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Rosenblatt Securities decreased their price target on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. Finally, Barrington Research reiterated an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, March 7th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $193.83.

Nexstar Media Group Stock Performance

Shares of NASDAQ:NXST opened at $164.11 on Thursday. The company’s 50 day moving average price is $165.65 and its two-hundred day moving average price is $158.91. Nexstar Media Group, Inc. has a 12-month low of $132.30 and a 12-month high of $187.32. The firm has a market cap of $5.49 billion, a PE ratio of 17.04, a PEG ratio of 0.61 and a beta of 1.50. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 2.90.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $3.32 earnings per share for the quarter, missing analysts’ consensus estimates of $4.42 by ($1.10). Nexstar Media Group had a return on equity of 14.06% and a net margin of 7.03%. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the company posted $8.04 EPS. The business’s revenue was down 12.3% on a year-over-year basis. Equities research analysts predict that Nexstar Media Group, Inc. will post 26.73 earnings per share for the current year.

Nexstar Media Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were issued a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date was Thursday, February 8th. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.35. Nexstar Media Group’s dividend payout ratio is 70.20%.

Insider Transactions at Nexstar Media Group

In other news, Director Charles Thomas Mcmillen sold 1,475 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $166.00, for a total transaction of $244,850.00. Following the completion of the sale, the director now owns 4,525 shares of the company’s stock, valued at approximately $751,150. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Charles Thomas Mcmillen sold 1,475 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $166.00, for a total value of $244,850.00. Following the completion of the transaction, the director now owns 4,525 shares of the company’s stock, valued at approximately $751,150. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Perry A. Sook sold 31,758 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $158.66, for a total transaction of $5,038,724.28. Following the completion of the transaction, the chief executive officer now directly owns 636,788 shares of the company’s stock, valued at approximately $101,032,784.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,508 shares of company stock valued at $7,487,950. Company insiders own 5.90% 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.