Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Kendall Capital Management

Kendall Capital Management trimmed its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 3.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,599 shares of the company’s stock after selling 425 shares during the quarter. Kendall Capital Management’s holdings in Nexstar Media Group were worth $1,674,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in NXST. Pacer Advisors Inc. boosted its holdings in Nexstar Media Group by 27,180.2% in the fourth quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company’s stock valued at $190,650,000 after purchasing an additional 1,202,453 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Nexstar Media Group during the 4th quarter worth about $35,560,000. Raymond James Financial Inc. purchased a new stake in shares of Nexstar Media Group during the 4th quarter worth about $8,402,000. Payden & Rygel raised its position in shares of Nexstar Media Group by 40.4% during the 3rd quarter. Payden & Rygel now owns 110,200 shares of the company’s stock worth $18,222,000 after purchasing an additional 31,700 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new position in shares of Nexstar Media Group during the 3rd quarter worth about $3,747,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nexstar Media Group

In other news, insider Gary Weitman sold 1,241 shares of Nexstar Media Group stock in a transaction on Friday, March 7th. The stock was sold at an average price of $177.21, for a total value of $219,917.61. Following the completion of the sale, the insider now directly owns 3,975 shares of the company’s stock, valued at approximately $704,409.75. The trade was a 23.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Lisbeth Mcnabb sold 875 shares of Nexstar Media Group stock in a transaction on Monday, December 9th. The shares were sold at an average price of $172.00, for a total value of $150,500.00. Following the completion of the sale, the director now directly owns 5,752 shares of the company’s stock, valued at $989,344. The trade was a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 162,830 shares of company stock worth $26,391,128 over the last quarter. 6.30% of the stock is currently owned by company insiders.

Nexstar Media Group Stock Up 3.0 %

Shares of NASDAQ NXST opened at $177.85 on Friday. The company has a market capitalization of $5.43 billion, a P/E ratio of 10.29, a P/E/G ratio of 0.45 and a beta of 1.47. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. The company has a 50 day simple moving average of $156.61 and a 200-day simple moving average of $163.75. Nexstar Media Group, Inc. has a 1 year low of $146.04 and a 1 year high of $191.86.

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

Nexstar Media Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given a $1.86 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $7.44 dividend on an annualized basis and a yield of 4.18%. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s payout ratio is currently 34.56%.

Analysts Set New Price Targets

NXST has been the subject of several research analyst reports. Benchmark upped their price target on shares of Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. StockNews.com downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Barrington Research reiterated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Wednesday. Guggenheim increased their price objective on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a report on Friday, February 28th. Finally, Loop Capital upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $190.00 to $200.00 in a report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.29.

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.