Weaver C. Barksdale & Associates Inc. Trims Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Weaver C. Barksdale & Associates Inc. decreased its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 20.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,471 shares of the company’s stock after selling 2,946 shares during the quarter. Nexstar Media Group makes up 1.8% of Weaver C. Barksdale & Associates Inc.’s holdings, making the stock its 26th largest holding. Weaver C. Barksdale & Associates Inc.’s holdings in Nexstar Media Group were worth $1,798,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in Nexstar Media Group by 632.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock valued at $32,000 after acquiring an additional 177 shares during the period. First United Bank & Trust bought a new stake in Nexstar Media Group during the 4th quarter valued at approximately $33,000. SRS Capital Advisors Inc. raised its stake in Nexstar Media Group by 350.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 239 shares of the company’s stock valued at $37,000 after purchasing an additional 186 shares during the period. OLD Second National Bank of Aurora purchased a new position in Nexstar Media Group in the 4th quarter worth approximately $45,000. Finally, Quadrant Capital Group LLC boosted its stake in Nexstar Media Group by 41.1% in the 4th quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock worth $46,000 after purchasing an additional 86 shares during the period. Institutional investors own 95.30% of the company’s stock.

Insider Transactions at Nexstar Media Group

In related news, CEO Perry A. Sook sold 31,758 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $158.66, for a total transaction of $5,038,724.28. Following the sale, the chief executive officer now owns 636,788 shares in the company, valued at approximately $101,032,784.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Perry A. Sook sold 31,758 shares of Nexstar Media Group stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $158.66, for a total transaction of $5,038,724.28. Following the completion of the transaction, the chief executive officer now directly owns 636,788 shares of the company’s stock, valued at approximately $101,032,784.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dennis J. Fitzsimons sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $170.82, for a total transaction of $341,640.00. Following the transaction, the director now owns 12,027 shares in the company, valued at $2,054,452.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,508 shares of company stock worth $7,487,950. 5.90% of the stock is currently owned by company insiders.

Nexstar Media Group Price Performance

NXST traded up $2.26 during trading hours on Friday, hitting $166.56. The company’s stock had a trading volume of 272,399 shares, compared to its average volume of 237,667. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 17.30, a P/E/G ratio of 0.61 and a beta of 1.50. The business’s 50-day moving average price is $164.36 and its 200-day moving average price is $159.85. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 2.90. Nexstar Media Group, Inc. has a 12 month low of $132.30 and a 12 month high of $187.32.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Wednesday, February 28th. The company reported $3.32 earnings per share for the quarter, missing analysts’ consensus estimates of $4.42 by ($1.10). The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.32 billion. Nexstar Media Group had a return on equity of 14.06% and a net margin of 7.03%. The business’s quarterly revenue was down 12.3% on a year-over-year basis. During the same quarter last year, the firm earned $8.04 earnings per share. Sell-side analysts expect that Nexstar Media Group, Inc. will post 26.73 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be paid a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend is Thursday, May 9th. Nexstar Media Group’s payout ratio is 70.20%.

Analyst Ratings Changes

Several research firms have recently issued reports on NXST. TheStreet upgraded shares of Nexstar Media Group from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Barrington Research reiterated an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, March 7th. Finally, Rosenblatt Securities dropped their price objective on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $193.83.

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.