Nexstar Media Group, Inc. (NASDAQ:NXST) Stock Holdings Decreased by Phocas Financial Corp.

Phocas Financial Corp. reduced its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 5.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,410 shares of the company’s stock after selling 3,077 shares during the quarter. Phocas Financial Corp.’s holdings in Nexstar Media Group were worth $8,170,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. CX Institutional increased its holdings in shares of Nexstar Media Group by 5.0% in the 3rd quarter. CX Institutional now owns 1,396 shares of the company’s stock valued at $231,000 after purchasing an additional 67 shares during the period. Granite Group Advisors LLC boosted its position in Nexstar Media Group by 5.1% during the first quarter. Granite Group Advisors LLC now owns 1,489 shares of the company’s stock valued at $257,000 after purchasing an additional 72 shares during the last quarter. Blue Trust Inc. grew its stake in Nexstar Media Group by 7.3% in the third quarter. Blue Trust Inc. now owns 1,088 shares of the company’s stock valued at $181,000 after purchasing an additional 74 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. grew its stake 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 valued at $2,308,000 after purchasing an additional 87 shares in the last quarter. Finally, SummerHaven Investment Management LLC increased its position in Nexstar Media Group by 2.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 4,217 shares of the company’s stock worth $700,000 after purchasing an additional 96 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Perry A. Sook sold 12,239 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 674,694 shares in the company, valued at approximately $128,380,774.32. This represents a 1.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Andrew Alford sold 3,175 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $167.82, for a total value of $532,828.50. Following the completion of the transaction, the insider now owns 9,173 shares of the company’s stock, valued at approximately $1,539,412.86. This represents a 25.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,437 shares of company stock valued at $8,429,561 in the last quarter. 6.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Loop Capital lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $200.00 to $190.00 in a research report on Friday, November 8th. Benchmark reaffirmed a “buy” rating and issued a $215.00 price target on shares of Nexstar Media Group in a report on Friday, November 8th. Guggenheim cut their price target 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. Finally, Wells Fargo & Company reduced 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 note on Friday, August 9th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $198.50.

Nexstar Media Group Price Performance

NASDAQ NXST opened at $162.18 on Tuesday. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. Nexstar Media Group, Inc. has a 52-week low of $141.38 and a 52-week high of $191.86. The business has a 50 day simple moving average of $168.61 and a 200 day simple moving average of $167.16. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 0.19 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing the consensus estimate of $5.51 by ($0.24). The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The company’s revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.70 earnings per share. Analysts anticipate that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $1.69 dividend. This represents a $6.76 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group’s payout ratio is 39.10%.

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.