Nexstar Media Group, Inc. (NASDAQ:NXST) is Capital Management Corp VA’s 2nd Largest Position

Capital Management Corp VA boosted its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 162,295 shares of the company’s stock after purchasing an additional 4,258 shares during the period. Nexstar Media Group makes up approximately 4.8% of Capital Management Corp VA’s holdings, making the stock its 2nd largest position. Capital Management Corp VA’s holdings in Nexstar Media Group were worth $26,835,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Whittier Trust Co. purchased a new stake in shares of Nexstar Media Group during the 2nd quarter valued at about $27,000. Allspring Global Investments Holdings LLC grew its stake in Nexstar Media Group by 3,700.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock worth $44,000 after acquiring an additional 259 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Nexstar Media Group by 117.8% during the third quarter. UMB Bank n.a. now owns 294 shares of the company’s stock valued at $49,000 after purchasing an additional 159 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Nexstar Media Group by 112.2% during the second quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock valued at $49,000 after purchasing an additional 156 shares in the last quarter. Finally, Mascoma Wealth Management LLC bought a new position in shares of Nexstar Media Group during the second quarter valued at approximately $49,000. Institutional investors own 95.30% of the company’s stock.

Insiders Place Their Bets

In other Nexstar Media Group news, CFO Lee Ann Gliha sold 984 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total transaction of $155,107.92. Following the completion of the transaction, the chief financial officer now owns 8,107 shares in the company, valued at approximately $1,277,906.41. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Rachel Morgan sold 6,196 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $171.30, for a total value of $1,061,374.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Lee Ann Gliha sold 984 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total transaction of $155,107.92. Following the sale, the chief financial officer now directly owns 8,107 shares in the company, valued at $1,277,906.41. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,112 shares of company stock worth $6,887,029. 6.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Barrington Research reissued an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, August 8th. Wells Fargo & Company decreased their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Guggenheim decreased their target price on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Benchmark decreased their price target on shares of Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, StockNews.com cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Nexstar Media Group presently has an average rating of “Moderate Buy” and an average target price of $199.71.

Nexstar Media Group Trading Down 2.0 %

Shares of NXST stock opened at $173.58 on Tuesday. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78. The stock has a market capitalization of $5.60 billion, a P/E ratio of 13.65, a price-to-earnings-growth ratio of 0.20 and a beta of 1.48. The company has a 50 day moving average price of $167.88 and a 200 day moving average price of $166.58. Nexstar Media Group, Inc. has a fifty-two week low of $140.92 and a fifty-two week high of $187.27.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $4.48 by ($0.94). The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.64 EPS. Equities research analysts predict that Nexstar Media Group, Inc. will post 25.72 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $1.69 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a yield of 3.89%. Nexstar Media Group’s payout ratio is currently 53.14%.

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.