Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lowered its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 712,744 shares of the company’s stock after selling 42,749 shares during the period. Alliancebernstein L.P. owned 2.30% of Nexstar Media Group worth $112,592,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. purchased a new stake in Nexstar Media Group in the 4th quarter valued at about $25,000. Wilmington Savings Fund Society FSB purchased a new stake in Nexstar Media Group in the third quarter valued at approximately $33,000. Jones Financial Companies Lllp increased its position in Nexstar Media Group by 15.3% during the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock worth $87,000 after purchasing an additional 73 shares during the last quarter. Quarry LP raised its stake in Nexstar Media Group by 111.1% during the third quarter. Quarry LP now owns 627 shares of the company’s stock worth $104,000 after purchasing an additional 330 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of Nexstar Media Group by 99.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 786 shares of the company’s stock valued at $124,000 after purchasing an additional 392 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $169.51, for a total transaction of $339,020.00. Following the completion of the transaction, the director now directly owns 4,975 shares of the company’s stock, valued at $843,312.25. This trade represents a 28.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Perry A. Sook sold 32,096 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $170.67, for a total transaction of $5,477,824.32. Following the completion of the sale, the chief executive officer now owns 806,019 shares in the company, valued at approximately $137,563,262.73. This trade represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,105 shares of company stock worth $6,722,463 in the last three months. 6.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research report on Monday, March 10th. Benchmark raised their price objective on Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, February 28th. StockNews.com cut Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Guggenheim raised their price target 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, Barrington Research reiterated 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 given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $208.43.

Nexstar Media Group Stock Up 1.7 %

Shares of NASDAQ:NXST opened at $181.86 on Thursday. The company has a 50 day moving average of $163.94 and a two-hundred day moving average of $164.97. Nexstar Media Group, Inc. has a 52-week low of $146.04 and a 52-week high of $191.86. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of 0.45 and a beta of 1.09.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.22 by ($1.66). The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations 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, analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend was Wednesday, February 12th. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s dividend payout ratio (DPR) is 34.56%.

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.