Foster & Motley Inc. Decreases Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Foster & Motley Inc. trimmed its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,905 shares of the company’s stock after selling 439 shares during the quarter. Foster & Motley Inc.’s holdings in Nexstar Media Group were worth $6,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in NXST. Whittier Trust Co. purchased a new stake in shares of Nexstar Media Group during the second quarter worth about $27,000. Allspring Global Investments Holdings LLC boosted 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 purchasing an additional 259 shares in the last quarter. UMB Bank n.a. grew its position in Nexstar Media Group by 117.8% during the 3rd quarter. UMB Bank n.a. now owns 294 shares of the company’s stock worth $49,000 after purchasing an additional 159 shares during the last quarter. GAMMA Investing LLC increased its stake in Nexstar Media Group by 112.2% during the 2nd 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 purchased a new position in shares of Nexstar Media Group in the second quarter worth $49,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group Stock Down 0.4 %

Nexstar Media Group stock opened at $172.87 on Wednesday. The business’s 50-day moving average price is $167.96 and its 200 day moving average price is $166.64. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 2.92. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 0.20 and a beta of 1.48. Nexstar Media Group, Inc. has a 52 week low of $140.92 and a 52 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 EPS for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the business earned $2.64 EPS. Nexstar Media Group’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current 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 issued a $1.69 dividend. The ex-dividend date is Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a yield of 3.91%. Nexstar Media Group’s payout ratio is 53.14%.

Insiders Place Their Bets

In other news, 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Nexstar Media Group news, Director Jay M. Grossman sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $170.70, for a total transaction of $1,707,000.00. Following the completion of the transaction, the director now directly owns 54,625 shares in the company, valued at approximately $9,324,487.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Lee Ann Gliha sold 984 shares of Nexstar Media Group stock in a transaction dated 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 sale, the chief financial officer now owns 8,107 shares in the company, valued at approximately $1,277,906.41. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,112 shares of company stock worth $6,887,029. Company insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NXST. Wells Fargo & Company dropped their price objective on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Guggenheim dropped their price target on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Barrington Research reissued an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft decreased their target price on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Benchmark cut their price target on shares of Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Two 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 stock. According to data from MarketBeat, Nexstar Media Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.71.

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.