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

Channing Capital Management LLC trimmed its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 556,978 shares of the company’s stock after selling 12,037 shares during the quarter. Nexstar Media Group makes up 2.3% of Channing Capital Management LLC’s portfolio, making the stock its 12th biggest holding. Channing Capital Management LLC owned approximately 1.80% of Nexstar Media Group worth $87,986,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in NXST. Brooklyn Investment Group acquired a new position in Nexstar Media Group in the 3rd quarter valued at about $25,000. SBI Securities Co. Ltd. purchased a new stake in shares of Nexstar Media Group during the fourth quarter worth about $25,000. True Wealth Design LLC purchased a new stake in shares of Nexstar Media Group during the third quarter worth about $30,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Nexstar Media Group in the third quarter valued at approximately $33,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Nexstar Media Group during the third quarter valued at approximately $44,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on NXST shares. StockNews.com cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Guggenheim lifted their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Benchmark increased their target price on Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Loop Capital raised Nexstar Media Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $190.00 to $200.00 in a research note on Friday, February 28th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $208.43.

Insider Activity at Nexstar Media Group

In other news, CFO Lee Ann Gliha sold 330 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $158.23, for a total value of $52,215.90. Following the completion of the sale, the chief financial officer now owns 8,610 shares in the company, valued at approximately $1,362,360.30. This trade represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gary Weitman sold 1,241 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 3,975 shares in the company, valued at $704,409.75. This trade represents a 23.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 161,955 shares of company stock worth $26,240,628. 6.30% of the stock is currently owned by corporate insiders.

Nexstar Media Group Stock Performance

Shares of NASDAQ:NXST opened at $176.94 on Tuesday. The business has a 50-day moving average of $156.61 and a two-hundred day moving average of $163.71. The firm has a market capitalization of $5.40 billion, a PE ratio of 10.23, 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. Nexstar Media Group, Inc. has a 12 month low of $146.04 and a 12 month high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.22 by ($1.66). The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. As a group, research analysts forecast 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. Stockholders of record on Wednesday, February 12th were paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend was Wednesday, February 12th. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s dividend payout ratio (DPR) is currently 34.56%.

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.