Wedge Capital Management L L P NC Reduces Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Wedge Capital Management L L P NC decreased its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 18.0% during the second quarter, HoldingsChannel.com reports. The firm owned 22,587 shares of the company’s stock after selling 4,951 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Nexstar Media Group were worth $3,750,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NXST. EverSource Wealth Advisors LLC increased its stake in shares of 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 buying an additional 177 shares during the period. First United Bank & Trust purchased a new position in shares of Nexstar Media Group in the 4th quarter worth approximately $33,000. SRS Capital Advisors Inc. raised its stake in shares of Nexstar Media Group by 350.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 239 shares of the company’s stock worth $37,000 after acquiring an additional 186 shares in the last quarter. OLD Second National Bank of Aurora purchased a new stake in Nexstar Media Group during the fourth quarter valued at approximately $45,000. Finally, Quadrant Capital Group LLC boosted its stake in Nexstar Media Group by 41.1% in the fourth quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock valued at $46,000 after acquiring an additional 86 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Wells Fargo & Company dropped their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Loop Capital upgraded Nexstar Media Group to a “strong-buy” rating in a research report on Friday, May 10th. Barrington Research restated an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, August 8th. Benchmark restated a “buy” rating and set a $225.00 price objective on shares of Nexstar Media Group in a research report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Nexstar Media Group presently has an average rating of “Moderate Buy” and an average price target of $201.67.

Insider Transactions at Nexstar Media Group

In other news, EVP Blake Russell sold 433 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $167.43, for a total transaction of $72,497.19. Following the completion of the transaction, the executive vice president now directly owns 25,537 shares in the company, valued at approximately $4,275,659.91. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Lee Ann Gliha sold 326 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $160.00, for a total transaction of $52,160.00. Following the sale, the chief financial officer now owns 5,462 shares of the company’s stock, valued at $873,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Blake Russell sold 433 shares of Nexstar Media Group stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $167.43, for a total transaction of $72,497.19. Following the completion of the transaction, the executive vice president now owns 25,537 shares of the company’s stock, valued at approximately $4,275,659.91. The disclosure for this sale can be found here. Insiders sold 7,810 shares of company stock worth $1,235,704 in the last 90 days. Insiders own 5.90% of the company’s stock.

Nexstar Media Group Trading Up 1.1 %

Nexstar Media Group stock traded up $1.76 during trading on Thursday, reaching $160.61. 300,512 shares of the company were exchanged, compared to its average volume of 344,627. Nexstar Media Group, Inc. has a 52-week low of $132.30 and a 52-week high of $187.27. The company has a market capitalization of $5.29 billion, a P/E ratio of 13.59, a PEG ratio of 0.65 and a beta of 1.50. The stock’s 50 day simple moving average is $166.55 and its two-hundred day simple moving average is $166.18. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.80 and a quick ratio of 1.80.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $4.48 by ($0.94). Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. 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 firm posted $2.64 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts expect that Nexstar Media Group, Inc. will post 27.62 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be paid a $1.69 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $6.76 annualized dividend and a dividend yield of 4.21%. Nexstar Media Group’s dividend payout ratio (DPR) is 57.19%.

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.