John G Ullman & Associates Inc. Has $4.16 Million Stock Position in Nexstar Media Group, Inc. $NXST

John G Ullman & Associates Inc. reduced its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 14.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,000 shares of the company’s stock after selling 3,875 shares during the quarter. John G Ullman & Associates Inc. owned 0.08% of Nexstar Media Group worth $4,159,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Assetmark Inc. lifted its holdings in shares of Nexstar Media Group by 15.1% in the first quarter. Assetmark Inc. now owns 49,770 shares of the company’s stock worth $9,000,000 after acquiring an additional 6,539 shares during the last quarter. Signet Financial Management LLC increased its position in Nexstar Media Group by 53.5% during the 1st quarter. Signet Financial Management LLC now owns 3,129 shares of the company’s stock worth $566,000 after purchasing an additional 1,091 shares in the last quarter. State of Michigan Retirement System increased its position in Nexstar Media Group by 3.0% during the 1st quarter. State of Michigan Retirement System now owns 6,900 shares of the company’s stock worth $1,248,000 after purchasing an additional 200 shares in the last quarter. Principal Financial Group Inc. increased its position in Nexstar Media Group by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 488,744 shares of the company’s stock worth $88,381,000 after purchasing an additional 7,661 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in Nexstar Media Group by 1,568.0% in the 1st quarter. Fifth Third Bancorp now owns 11,259 shares of the company’s stock valued at $2,036,000 after purchasing an additional 10,584 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group Stock Down 0.8%

Shares of NASDAQ NXST opened at $183.71 on Friday. The company has a 50 day simple moving average of $179.97 and a 200 day simple moving average of $202.90. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.76 and a quick ratio of 1.76. Nexstar Media Group, Inc. has a 1 year low of $154.47 and a 1 year high of $254.30. The firm has a market cap of $5.61 billion, a PE ratio of 39.42, a price-to-earnings-growth ratio of 0.47 and a beta of 0.91.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Friday, May 15th. Nexstar Media Group’s payout ratio is 159.66%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on NXST shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Wells Fargo & Company lowered their price target on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Barrington Research reiterated an “outperform” rating and issued a $290.00 price target on shares of Nexstar Media Group in a research note on Tuesday, April 28th. Zacks Research downgraded Nexstar Media Group from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Finally, Wall Street Zen lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $259.67.

Insider Activity at Nexstar Media Group

In related news, COO Michael Biard sold 1,227 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $174.21, for a total transaction of $213,755.67. Following the completion of the transaction, the chief operating officer directly owned 17,105 shares of the company’s stock, valued at $2,979,862.05. This trade represents a 6.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dana Zimmer sold 915 shares of Nexstar Media Group stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $176.42, for a total value of $161,424.30. Following the transaction, the insider directly owned 5,738 shares in the company, valued at $1,012,297.96. The trade was a 13.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 22,813 shares of company stock valued at $4,174,731 in the last quarter. Insiders own 7.00% of the company’s stock.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.