Clark Estates Inc. NY Decreases Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Clark Estates Inc. NY trimmed its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 10.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 17,214 shares of the company’s stock after selling 2,086 shares during the period. Clark Estates Inc. NY’s holdings in Nexstar Media Group were worth $2,719,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new position in shares of Nexstar Media Group in the third quarter worth $25,000. SBI Securities Co. Ltd. acquired a new position in shares of Nexstar Media Group in the 4th quarter valued at $25,000. True Wealth Design LLC acquired a new position in shares of Nexstar Media Group in the 3rd quarter valued at $30,000. Wilmington Savings Fund Society FSB purchased a new position in Nexstar Media Group in the 3rd quarter worth $33,000. Finally, Capital Performance Advisors LLP acquired a new stake in Nexstar Media Group during the 3rd quarter worth about $44,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group Stock Performance

Shares of NASDAQ NXST opened at $169.75 on Wednesday. The company has a market capitalization of $5.27 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 0.45 and a beta of 1.45. 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 company’s fifty day moving average price is $155.59 and its 200 day moving average price is $163.55. Nexstar Media Group, Inc. has a 1 year low of $146.04 and a 1 year high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Thursday, February 27th. The company reported $7.56 EPS for the quarter, missing analysts’ consensus estimates of $9.22 by ($1.66). The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.48 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. On average, research analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 4.38%. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date of this dividend was Wednesday, February 12th. Nexstar Media Group’s dividend payout ratio is presently 34.56%.

Wall Street Analysts Forecast Growth

NXST has been the subject of several research analyst reports. Barrington Research restated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, February 27th. StockNews.com lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday. Loop Capital upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $190.00 to $200.00 in a research note on Friday, February 28th. Benchmark increased their price objective on shares of Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Guggenheim boosted their target price on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.29.

Insider Activity at Nexstar Media Group

In related news, Director Charles Thomas Mcmillen sold 750 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $159.93, for a total value of $119,947.50. Following the transaction, the director now directly owns 6,975 shares of the company’s stock, valued at approximately $1,115,511.75. This trade represents a 9.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Perry A. Sook sold 35,205 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $162.13, for a total value of $5,707,786.65. Following the transaction, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at $109,388,138.22. The trade was a 4.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 127,493 shares of company stock valued at $20,354,366. 6.30% of the stock is owned by company insiders.

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.