Wedge Capital Management L L P NC cut its stake in shares of Nexstar Media Group Inc (NASDAQ:NXST) by 3.7% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 109,654 shares of the company’s stock after selling 4,192 shares during the period. Wedge Capital Management L L P NC owned approximately 0.24% of Nexstar Media Group worth $11,075,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Legacy Bridge LLC acquired a new position in Nexstar Media Group during the 1st quarter worth approximately $26,000. Private Capital Group LLC lifted its position in Nexstar Media Group by 46.3% during the 1st quarter. Private Capital Group LLC now owns 392 shares of the company’s stock worth $42,000 after acquiring an additional 124 shares in the last quarter. Synovus Financial Corp acquired a new position in Nexstar Media Group during the 1st quarter worth approximately $54,000. State of Alaska Department of Revenue acquired a new position in Nexstar Media Group during the 1st quarter worth approximately $66,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of Nexstar Media Group in the 2nd quarter valued at approximately $80,000.
In other news, Director Dennis Miller sold 625 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $102.17, for a total value of $63,856.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.40% of the stock is currently owned by insiders.
Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $1.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.38 by $0.04. Nexstar Media Group had a return on equity of 21.05% and a net margin of 13.61%. The business had revenue of $649.01 million during the quarter, compared to the consensus estimate of $653.00 million. During the same period in the previous year, the business earned $1.86 EPS. The business’s quarterly revenue was down 1.7% on a year-over-year basis. On average, analysts anticipate that Nexstar Media Group Inc will post 6.34 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be issued a $0.45 dividend. The ex-dividend date is Thursday, August 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.00%. Nexstar Media Group’s dividend payout ratio (DPR) is 21.08%.
A number of equities analysts have issued reports on the company. B. Riley set a $139.00 target price on Nexstar Media Group and gave the company a “buy” rating in a research report on Tuesday, May 14th. Evercore ISI reaffirmed a “buy” rating and issued a $116.00 target price on shares of Nexstar Media Group in a research report on Thursday, August 8th. ValuEngine lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research lowered Nexstar Media Group from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, BidaskClub raised Nexstar Media Group from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $121.29.
Nexstar Media Group Profile
Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. The company focuses on the acquisition, development, and operation of television stations and interactive community Websites in small and medium-sized markets. It offers free over-the-air programming to television viewing audiences.
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