Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lessened its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 24.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,123 shares of the company’s stock after selling 4,588 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Nexstar Media Group were worth $2,531,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of Nexstar Media Group by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,331,355 shares of the company’s stock valued at $210,314,000 after purchasing an additional 4,704 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Nexstar Media Group by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,102,126 shares of the company’s stock valued at $174,103,000 after buying an additional 18,675 shares during the period. Demars Financial Group LLC lifted its position in Nexstar Media Group by 16,009.5% during the fourth quarter. Demars Financial Group LLC now owns 773,737 shares of the company’s stock valued at $122,227,000 after buying an additional 768,934 shares in the last quarter. Northern Trust Corp lifted its position in Nexstar Media Group by 22.3% during the fourth quarter. Northern Trust Corp now owns 463,139 shares of the company’s stock valued at $73,162,000 after buying an additional 84,367 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in Nexstar Media Group by 15.5% during the fourth quarter. AQR Capital Management LLC now owns 423,808 shares of the company’s stock worth $66,949,000 after buying an additional 56,935 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analysts Set New Price Targets

NXST has been the topic of several recent research reports. Loop Capital upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating and lifted their target price for the company from $190.00 to $200.00 in a report on Friday, February 28th. Barrington Research restated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, May 13th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research report on Monday, March 10th. Wall Street Zen lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Guggenheim raised their target price on Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $205.71.

Nexstar Media Group Trading Down 0.4%

Nexstar Media Group stock opened at $168.34 on Tuesday. The firm has a market cap of $5.14 billion, a price-to-earnings ratio of 9.74, a price-to-earnings-growth ratio of 0.45 and a beta of 1.05. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $191.86. The firm’s 50 day moving average price is $160.63 and its two-hundred day moving average price is $162.04. 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 (NASDAQ:NXST) last posted its quarterly earnings data on Thursday, May 8th. The company reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.11. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $5.16 earnings per share. On average, research analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend was Monday, May 19th. Nexstar Media Group’s dividend payout ratio is currently 37.69%.

Insider Transactions at Nexstar Media Group

In other Nexstar Media Group news, insider Gary Weitman sold 325 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $167.25, for a total transaction of $54,356.25. Following the transaction, the insider now directly owns 7,425 shares of the company’s stock, valued at $1,241,831.25. This represents a 4.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Andrew Alford sold 3,768 shares of Nexstar Media Group stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.98, for a total transaction of $685,700.64. Following the completion of the transaction, the insider now owns 5,405 shares in the company, valued at $983,601.90. This trade represents a 41.08% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,033 shares of company stock valued at $3,491,901. 6.70% of the stock is owned by 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.