Bahl & Gaynor Inc. Sells 5,319 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Bahl & Gaynor Inc. trimmed its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 5.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 98,639 shares of the company’s stock after selling 5,319 shares during the period. Bahl & Gaynor Inc.’s holdings in Nexstar Media Group were worth $16,995,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its holdings in shares of Nexstar Media Group by 632.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock worth $32,000 after purchasing an additional 177 shares in the last quarter. First United Bank & Trust purchased a new position in shares of Nexstar Media Group in the 4th quarter worth about $33,000. SRS Capital Advisors Inc. boosted its holdings in shares of Nexstar Media Group by 350.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 239 shares of the company’s stock worth $37,000 after purchasing an additional 186 shares in the last quarter. OLD Second National Bank of Aurora purchased a new position in shares of Nexstar Media Group in the 4th quarter worth about $45,000. Finally, Quadrant Capital Group LLC boosted its holdings in shares of 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 in the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Nexstar Media Group

In related news, CFO Lee Ann Gliha sold 326 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $160.00, for a total transaction of $52,160.00. Following the completion of the transaction, the chief financial officer now owns 5,462 shares in the company, valued at $873,920. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Nexstar Media Group news, CFO Lee Ann Gliha sold 326 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $160.00, for a total transaction of $52,160.00. Following the completion of the transaction, the chief financial officer now owns 5,462 shares in the company, valued at $873,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John R. Muse sold 365 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $160.00, for a total transaction of $58,400.00. Following the completion of the sale, the director now directly owns 27,613 shares of the company’s stock, valued at $4,418,080. The disclosure for this sale can be found here. Insiders sold a total of 6,826 shares of company stock valued at $1,080,597 over the last three months. Corporate insiders own 5.90% of the company’s stock.

Nexstar Media Group Stock Performance

Nexstar Media Group stock traded up $0.71 during midday trading on Tuesday, reaching $178.25. 131,783 shares of the company traded hands, compared to its average volume of 348,265. Nexstar Media Group, Inc. has a 12 month low of $132.30 and a 12 month high of $187.32. The firm has a market capitalization of $5.87 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 0.63 and a beta of 1.50. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.80 and a quick ratio of 1.80. The business has a 50 day moving average of $163.58 and a two-hundred day moving average of $166.13.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, May 9th. The company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.28 by $0.88. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.97 earnings per share. As a group, research analysts predict that Nexstar Media Group, Inc. will post 27.62 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were paid a $1.69 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.79%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 57.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on NXST shares. Loop Capital upgraded Nexstar Media Group to a “strong-buy” rating in a report on Friday, May 10th. Wells Fargo & Company upgraded Nexstar Media Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $190.00 to $221.00 in a report on Monday, May 13th. Benchmark restated a “buy” rating and set a $225.00 target price on shares of Nexstar Media Group in a report on Thursday, June 20th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Tuesday. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Nexstar Media Group has an average rating of “Moderate Buy” and an average price target of $203.67.

Nexstar Media Group Company 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.