Private Management Group Inc. Has $972,000 Stock Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Private Management Group Inc. trimmed its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 95.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,879 shares of the company’s stock after selling 111,554 shares during the quarter. Private Management Group Inc.’s holdings in Nexstar Media Group were worth $972,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. CX Institutional lifted its position in shares of Nexstar Media Group by 5.0% during the third quarter. CX Institutional now owns 1,396 shares of the company’s stock valued at $231,000 after purchasing an additional 67 shares in the last quarter. Granite Group Advisors LLC raised its position in Nexstar Media Group by 5.1% in the first quarter. Granite Group Advisors LLC now owns 1,489 shares of the company’s stock worth $257,000 after acquiring an additional 72 shares during the period. Blue Trust Inc. raised its position in Nexstar Media Group by 7.3% in the third quarter. Blue Trust Inc. now owns 1,088 shares of the company’s stock worth $181,000 after acquiring an additional 74 shares during the period. Klein Pavlis & Peasley Financial Inc. raised its position in Nexstar Media Group by 0.6% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,903 shares of the company’s stock worth $2,308,000 after acquiring an additional 87 shares during the period. Finally, SummerHaven Investment Management LLC increased its stake in shares of Nexstar Media Group by 2.3% in the second quarter. SummerHaven Investment Management LLC now owns 4,217 shares of the company’s stock worth $700,000 after purchasing an additional 96 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Nexstar Media Group

In related news, Director Charles Thomas Mcmillen sold 250 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $164.44, for a total transaction of $41,110.00. Following the sale, the director now directly owns 7,725 shares of the company’s stock, valued at approximately $1,270,299. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 250 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $164.44, for a total transaction of $41,110.00. Following the transaction, the director now owns 7,725 shares in the company, valued at approximately $1,270,299. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Lee Ann Gliha sold 984 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total transaction of $155,107.92. Following the completion of the transaction, the chief financial officer now owns 8,107 shares in the company, valued at $1,277,906.41. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,112 shares of company stock valued at $6,887,029. 6.30% of the stock is owned by insiders.

Analysts Set New Price Targets

NXST has been the subject of several recent research reports. Guggenheim reduced their target price on shares of 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. StockNews.com cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Barrington Research reissued an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, August 8th. Finally, Wells Fargo & Company cut their price target on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and an average price target of $199.71.

Nexstar Media Group Trading Up 0.7 %

NASDAQ:NXST opened at $177.08 on Friday. The company has a fifty day moving average of $167.82 and a 200 day moving average of $166.40. Nexstar Media Group, Inc. has a 52 week low of $140.92 and a 52 week high of $187.27. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 2.92. The firm has a market capitalization of $5.71 billion, a P/E ratio of 13.92, a P/E/G ratio of 0.20 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, August 8th. The company reported $3.54 EPS for the quarter, missing the consensus estimate of $4.48 by ($0.94). Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the company posted $2.64 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, research analysts predict that Nexstar Media Group, Inc. will post 25.72 earnings per share 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 given a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date is Friday, November 15th. Nexstar Media Group’s dividend payout ratio is presently 53.14%.

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.