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

Geode Capital Management LLC trimmed its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 0.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 740,731 shares of the company’s stock after selling 2,546 shares during the period. Geode Capital Management LLC owned 2.39% of Nexstar Media Group worth $122,666,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NXST. Wealth Enhancement Advisory Services LLC grew its holdings in Nexstar Media Group by 4.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,468 shares of the company’s stock worth $742,000 after buying an additional 193 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Nexstar Media Group by 10.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,745 shares of the company’s stock valued at $622,000 after purchasing an additional 345 shares during the period. Blue Trust Inc. raised its stake in shares of Nexstar Media Group by 26.8% during the second quarter. Blue Trust Inc. now owns 1,014 shares of the company’s stock valued at $175,000 after purchasing an additional 214 shares in the last quarter. Raymond James & Associates lifted its holdings in Nexstar Media Group by 1.2% in the second quarter. Raymond James & Associates now owns 37,362 shares of the company’s stock worth $6,202,000 after purchasing an additional 426 shares during the period. Finally, Hennion & Walsh Asset Management Inc. grew its position in Nexstar Media Group by 34.0% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 1,613 shares of the company’s stock valued at $268,000 after buying an additional 409 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Nexstar Media Group

In related news, Director Charles Thomas Mcmillen sold 250 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $164.44, for a total value of $41,110.00. Following the completion of the sale, the director now directly owns 7,725 shares of the company’s stock, valued at approximately $1,270,299. This represents a 3.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Perry A. Sook sold 12,239 shares of Nexstar Media Group stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $190.28, for a total value of $2,328,836.92. Following the transaction, the chief executive officer now directly owns 674,694 shares in the company, valued at approximately $128,380,774.32. This trade represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,798 shares of company stock valued at $5,949,704 over the last ninety days. Corporate insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on NXST shares. Loop Capital downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating and dropped their price target for the stock from $200.00 to $190.00 in a research report on Friday, November 8th. Barrington Research reissued an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, November 7th. Guggenheim decreased their price target on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Benchmark reiterated a “buy” rating and set a $215.00 price target on shares of Nexstar Media Group in a research report on Friday, November 8th. Finally, StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $204.29.

Nexstar Media Group Price Performance

NASDAQ NXST opened at $161.46 on Wednesday. Nexstar Media Group, Inc. has a 1 year low of $147.25 and a 1 year high of $191.86. The business’s fifty day moving average is $170.10 and its two-hundred day moving average is $167.47. The stock has a market capitalization of $5.01 billion, a P/E ratio of 9.34, a P/E/G ratio of 0.20 and a beta of 1.45. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the firm earned $0.70 earnings per share. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, research analysts forecast that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend was Friday, November 15th. Nexstar Media Group’s payout ratio is 39.10%.

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.