John G Ullman & Associates Inc. Trims Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

John G Ullman & Associates Inc. decreased its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 0.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,343 shares of the company’s stock after selling 200 shares during the quarter. John G Ullman & Associates Inc.’s holdings in Nexstar Media Group were worth $4,687,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NXST. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Nexstar Media Group by 5.8% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 111,905 shares of the company’s stock valued at $18,504,000 after acquiring an additional 6,101 shares during the period. Payden & Rygel lifted its stake in shares of Nexstar Media Group by 40.4% in the 3rd quarter. Payden & Rygel now owns 110,200 shares of the company’s stock valued at $18,222,000 after purchasing an additional 31,700 shares during the period. Advisors Asset Management Inc. boosted its holdings in Nexstar Media Group by 46.8% during the third quarter. Advisors Asset Management Inc. now owns 21,908 shares of the company’s stock worth $3,622,000 after buying an additional 6,984 shares in the last quarter. Pathstone Holdings LLC boosted its holdings in Nexstar Media Group by 6.7% during the third quarter. Pathstone Holdings LLC now owns 22,009 shares of the company’s stock worth $3,639,000 after buying an additional 1,388 shares in the last quarter. Finally, Quest Partners LLC increased its holdings in Nexstar Media Group by 661.4% in the third quarter. Quest Partners LLC now owns 8,672 shares of the company’s stock valued at $1,434,000 after buying an additional 7,533 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Perry A. Sook sold 12,239 shares of Nexstar Media Group stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $190.28, for a total transaction of $2,328,836.92. Following the transaction, the chief executive officer now owns 674,694 shares in the company, valued at $128,380,774.32. The trade was a 1.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew Alford sold 3,175 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $167.82, for a total transaction of $532,828.50. Following the completion of the sale, the insider now directly owns 9,173 shares of the company’s stock, valued at $1,539,412.86. This represents a 25.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,903 shares of company stock valued at $7,833,240 in the last ninety days. 6.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NXST shares. Guggenheim lowered their target price on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Deutsche Bank Aktiengesellschaft lowered their price target 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. Barrington Research reissued an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, November 7th. Loop Capital downgraded Nexstar Media Group from a “buy” rating to a “hold” rating and reduced their target price for the stock from $200.00 to $190.00 in a research note on Friday, November 8th. Finally, Benchmark reissued a “buy” rating and issued a $215.00 price target on shares of Nexstar Media Group in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $198.50.

Nexstar Media Group Stock Up 2.0 %

Shares of NXST opened at $166.83 on Thursday. The stock has a 50 day moving average price of $168.76 and a 200 day moving average price of $167.14. Nexstar Media Group, Inc. has a one year low of $141.38 and a one year high of $191.86. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 0.20 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. Nexstar Media Group’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.70 EPS. Equities research analysts forecast that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $1.69 dividend. The ex-dividend date is Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a yield of 4.05%. Nexstar Media Group’s payout ratio is 39.10%.

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.