Glenmede Trust Co. NA Sells 1,261 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Glenmede Trust Co. NA lowered its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 84,055 shares of the company’s stock after selling 1,261 shares during the quarter. Glenmede Trust Co. NA’s holdings in Nexstar Media Group were worth $13,898,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of Nexstar Media Group by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock worth $220,189,000 after purchasing an additional 62,331 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Nexstar Media Group by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company’s stock valued at $179,149,000 after buying an additional 7,117 shares in the last quarter. Copeland Capital Management LLC increased its holdings in Nexstar Media Group by 18.1% during the third quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock worth $90,567,000 after buying an additional 83,829 shares during the last quarter. Bank of New York Mellon Corp raised its position in Nexstar Media Group by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 418,815 shares of the company’s stock worth $69,528,000 after acquiring an additional 2,145 shares in the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. raised its position in Nexstar Media Group by 4.7% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 201,940 shares of the company’s stock worth $33,524,000 after acquiring an additional 9,084 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Stock Performance

NXST opened at $171.15 on Friday. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. The business has a fifty day simple moving average of $169.16 and a 200 day simple moving average of $167.12. Nexstar Media Group, Inc. has a 1 year low of $141.38 and a 1 year high of $191.86. The company has a market capitalization of $5.31 billion, a PE ratio of 9.90, a price-to-earnings-growth ratio of 0.20 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Thursday, November 7th. The company reported $5.27 earnings per share 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 firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the business posted $0.70 EPS. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. Research analysts expect that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $1.69 per share. The ex-dividend date is Friday, November 15th. This represents a $6.76 annualized dividend and a dividend yield of 3.95%. Nexstar Media Group’s dividend payout ratio is presently 39.10%.

Insider Activity

In other news, Director Jay M. Grossman sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $170.70, for a total value 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. The trade was a 15.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Perry A. Sook sold 12,239 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $190.28, for a total transaction of $2,328,836.92. Following the sale, the chief executive officer now owns 674,694 shares in the company, valued at $128,380,774.32. This represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,423 shares of company stock worth $7,916,739. Corporate insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

NXST has been the topic of several recent analyst reports. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Benchmark reissued a “buy” rating and set a $215.00 price target on shares of Nexstar Media Group in a research report on Friday, November 8th. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, November 7th. Guggenheim reduced their target price 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. Finally, Wells Fargo & Company dropped their price target on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Nexstar Media Group presently has an average rating of “Moderate Buy” and a consensus target price of $198.50.

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.