Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd decreased its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 24.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,743 shares of the company’s stock after selling 1,224 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Nexstar Media Group were worth $591,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Nexstar Media Group by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company’s stock valued at $1,073,000 after acquiring an additional 68 shares during the period. Natixis Advisors LLC increased its stake in Nexstar Media Group by 1.2% in the 3rd quarter. Natixis Advisors LLC now owns 10,185 shares of the company’s stock valued at $1,684,000 after buying an additional 117 shares during the period. Davis Capital Management increased its stake in Nexstar Media Group by 2.0% in the 4th quarter. Davis Capital Management now owns 6,270 shares of the company’s stock valued at $990,000 after buying an additional 122 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in Nexstar Media Group by 5.8% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 2,518 shares of the company’s stock valued at $398,000 after buying an additional 137 shares during the period. Finally, Harbor Capital Advisors Inc. increased its stake in Nexstar Media Group by 1.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 10,127 shares of the company’s stock valued at $1,600,000 after buying an additional 140 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insider Buying and Selling

In related news, Director Lisbeth Mcnabb sold 875 shares of the firm’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 directly owns 5,752 shares in the company, valued at $989,344. This trade represents a 13.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Perry A. Sook sold 35,205 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $162.13, for a total value of $5,707,786.65. Following the transaction, the chief executive officer now owns 674,694 shares in the company, valued at $109,388,138.22. This trade represents a 4.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,493 shares of company stock worth $20,354,366 over the last ninety days. 6.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Benchmark boosted their price objective on shares of Nexstar Media Group from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Friday. Guggenheim boosted their price objective on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Friday. Loop Capital raised shares of 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 research note on Friday. StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, Nexstar Media Group has a consensus rating of “Buy” and a consensus price target of $210.29.

Nexstar Media Group Stock Performance

Nexstar Media Group stock opened at $169.15 on Friday. The stock has a market cap of $5.25 billion, a P/E ratio of 9.78, a price-to-earnings-growth ratio of 0.45 and a beta of 1.45. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. The stock has a 50 day moving average of $155.29 and a 200-day moving average of $163.44. Nexstar Media Group, Inc. has a 52 week low of $146.04 and a 52 week high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, February 27th. The company reported $7.56 EPS for the quarter, missing the consensus estimate of $9.22 by ($1.66). The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. On average, analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a dividend of $1.86 per share. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. This represents a $7.44 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend was Wednesday, February 12th. Nexstar Media Group’s dividend payout ratio is 43.03%.

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.