Metis Global Partners LLC lowered its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST – Free Report) by 44.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,641 shares of the company’s stock after selling 1,306 shares during the quarter. Metis Global Partners LLC’s holdings in Nexstar Media Group were worth $283,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Brown Brothers Harriman & Co. acquired a new stake in shares of Nexstar Media Group during the first quarter worth $26,000. Column Capital Advisors LLC lifted its holdings in shares of Nexstar Media Group by 55.4% during the fourth quarter. Column Capital Advisors LLC now owns 174 shares of the company’s stock worth $30,000 after buying an additional 62 shares in the last quarter. Denali Advisors LLC lifted its holdings in shares of Nexstar Media Group by 107.0% during the first quarter. Denali Advisors LLC now owns 207 shares of the company’s stock worth $36,000 after buying an additional 107 shares in the last quarter. Endurance Wealth Management Inc. acquired a new stake in shares of Nexstar Media Group during the first quarter worth $43,000. Finally, Global Retirement Partners LLC lifted its holdings in shares of Nexstar Media Group by 176.1% during the first quarter. Global Retirement Partners LLC now owns 254 shares of the company’s stock worth $42,000 after buying an additional 162 shares in the last quarter. Institutional investors and hedge funds own 97.44% of the company’s stock.
Analysts Set New Price Targets
NXST has been the subject of a number of analyst reports. StockNews.com initiated coverage on Nexstar Media Group in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Barrington Research reaffirmed an “outperform” rating and issued a $235.00 price target on shares of Nexstar Media Group in a research note on Tuesday, August 8th. Finally, Guggenheim boosted their price target on Nexstar Media Group from $216.00 to $220.00 in a research note on Thursday, June 29th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $219.40.
Nexstar Media Group Stock Down 0.4 %
Shares of NASDAQ NXST opened at $164.75 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.97 and a debt-to-equity ratio of 2.64. The company has a market cap of $5.78 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 1.26 and a beta of 1.49. Nexstar Media Group, Inc. has a 12 month low of $148.00 and a 12 month high of $217.76. The stock has a 50-day moving average price of $171.70 and a two-hundred day moving average price of $174.30.
Nexstar Media Group (NASDAQ:NXST – Get Free Report) last issued its earnings results on Tuesday, August 8th. The company reported $2.64 EPS for the quarter, missing the consensus estimate of $2.88 by ($0.24). The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. Nexstar Media Group had a return on equity of 29.41% and a net margin of 13.31%. The firm’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.56 EPS. As a group, analysts forecast that Nexstar Media Group, Inc. will post 13.15 earnings per share for the current fiscal year.
Nexstar Media Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.28%. The ex-dividend date is Wednesday, August 9th. Nexstar Media Group’s payout ratio is 29.65%.
Insiders Place Their Bets
In other Nexstar Media Group news, COO Thomas Carter sold 10,000 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $157.85, for a total transaction of $1,578,500.00. Following the completion of the transaction, the chief operating officer now owns 78,568 shares of the company’s stock, valued at $12,401,958.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, COO Thomas Carter sold 10,000 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $157.85, for a total transaction of $1,578,500.00. Following the sale, the chief operating officer now directly owns 78,568 shares in the company, valued at $12,401,958.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gary Weitman sold 425 shares of the business’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $158.82, for a total value of $67,498.50. Following the sale, the insider now owns 7,314 shares in the company, valued at $1,161,609.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,443 shares of company stock valued at $4,778,645. 5.90% of the stock is currently owned by corporate insiders.
About Nexstar Media Group
Nexstar Media Group, Inc, a television broadcasting and digital media company, focuses on the acquisition, development, and operation of television stations and interactive community websites and digital media services in the United States. The company offers free programming to television viewing audiences.
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