Fmr LLC Reduces Holdings in Nexstar Media Group Inc (NXST)

Fmr LLC lessened its stake in shares of Nexstar Media Group Inc (NASDAQ:NXST) by 27.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,349,867 shares of the company’s stock after selling 518,627 shares during the period. Fmr LLC owned 2.96% of Nexstar Media Group worth $99,080,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NXST. Sit Investment Associates Inc. raised its position in shares of Nexstar Media Group by 1.7% during the 2nd quarter. Sit Investment Associates Inc. now owns 44,525 shares of the company’s stock valued at $3,268,000 after buying an additional 725 shares in the last quarter. Balter Liquid Alternatives LLC raised its position in shares of Nexstar Media Group by 1.5% during the 2nd quarter. Balter Liquid Alternatives LLC now owns 50,100 shares of the company’s stock valued at $3,665,000 after buying an additional 735 shares in the last quarter. Strs Ohio raised its position in shares of Nexstar Media Group by 1.1% during the 2nd quarter. Strs Ohio now owns 71,400 shares of the company’s stock valued at $5,240,000 after buying an additional 800 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in shares of Nexstar Media Group by 64.8% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,423 shares of the company’s stock valued at $178,000 after buying an additional 953 shares in the last quarter. Finally, Amalgamated Bank raised its position in shares of Nexstar Media Group by 16.9% during the 2nd quarter. Amalgamated Bank now owns 6,848 shares of the company’s stock valued at $503,000 after buying an additional 989 shares in the last quarter.

Several brokerages have recently issued reports on NXST. ValuEngine upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Wednesday, August 22nd. BidaskClub raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Wednesday, September 5th. B. Riley increased their price objective on shares of Nexstar Media Group from $87.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, September 6th. Noble Financial lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday, August 20th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $87.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, July 24th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $91.70.

In other news, EVP Blake Russell sold 7,262 shares of the firm’s stock in a transaction that occurred on Wednesday, September 26th. The shares were sold at an average price of $82.90, for a total transaction of $602,019.80. Following the transaction, the executive vice president now directly owns 31,950 shares of the company’s stock, valued at $2,648,655. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Keith P. Hopkins sold 1,625 shares of the firm’s stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $80.35, for a total transaction of $130,568.75. Following the transaction, the senior vice president now directly owns 3,125 shares in the company, valued at $251,093.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,950 shares of company stock worth $1,796,747. Corporate insiders own 6.40% of the company’s stock.

Nexstar Media Group stock opened at $81.01 on Friday. The company has a debt-to-equity ratio of 2.59, a quick ratio of 2.43 and a current ratio of 2.43. Nexstar Media Group Inc has a 1-year low of $60.30 and a 1-year high of $89.75. The stock has a market capitalization of $3.67 billion, a P/E ratio of 20.35, a PEG ratio of 1.00 and a beta of 1.76.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Thursday, November 8th. The company reported $2.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.97 by $0.15. Nexstar Media Group had a net margin of 22.07% and a return on equity of 17.28%. The company had revenue of $693.00 million for the quarter, compared to analyst estimates of $676.34 million. During the same period in the prior year, the company posted $0.98 EPS. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. Sell-side analysts expect that Nexstar Media Group Inc will post 8.05 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 16th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Thursday, November 15th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 37.69%.

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Nexstar Media Group Company Profile

Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. It focuses on the acquisition, development, and operation of television stations and interactive community Websites in medium-sized markets. The company offers free over-the-air programming to television viewing audiences.

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Institutional Ownership by Quarter for Nexstar Media Group (NASDAQ:NXST)

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