Mutual of America Capital Management LLC Has $3.13 Million Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Mutual of America Capital Management LLC lowered its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 8.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,988 shares of the company’s stock after selling 1,733 shares during the period. Mutual of America Capital Management LLC owned 0.06% of Nexstar Media Group worth $3,133,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in NXST. Channing Capital Management LLC lifted its holdings in shares of Nexstar Media Group by 738.8% during the third quarter. Channing Capital Management LLC now owns 506,212 shares of the company’s stock worth $72,576,000 after purchasing an additional 445,859 shares during the period. Norges Bank acquired a new position in shares of Nexstar Media Group during the fourth quarter worth $64,347,000. JPMorgan Chase & Co. lifted its holdings in shares of Nexstar Media Group by 44.3% during the third quarter. JPMorgan Chase & Co. now owns 607,631 shares of the company’s stock worth $87,116,000 after purchasing an additional 186,486 shares during the period. Boston Financial Mangement LLC raised its stake in Nexstar Media Group by 156.5% during the third quarter. Boston Financial Mangement LLC now owns 238,670 shares of the company’s stock worth $34,218,000 after buying an additional 145,617 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in Nexstar Media Group by 15,107.2% during the fourth quarter. International Assets Investment Management LLC now owns 122,570 shares of the company’s stock worth $19,213,000 after buying an additional 121,764 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NXST shares. Barrington Research reissued an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, March 7th. Rosenblatt Securities lowered their target price on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. Finally, TheStreet raised shares of Nexstar Media Group from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $193.83.

Nexstar Media Group Stock Down 0.1 %

NXST opened at $158.87 on Thursday. The company has a 50 day moving average of $165.76 and a 200 day moving average of $158.01. The company has a market cap of $5.31 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 0.59 and a beta of 1.50. Nexstar Media Group, Inc. has a 12 month low of $132.30 and a 12 month high of $187.32. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 2.90.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Wednesday, February 28th. The company reported $3.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.42 by ($1.10). Nexstar Media Group had a return on equity of 14.06% and a net margin of 7.03%. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the company earned $8.04 earnings per share. The business’s revenue for the quarter was down 12.3% compared to the same quarter last year. On average, sell-side analysts expect that Nexstar Media Group, Inc. will post 26.73 EPS for the current year.

Nexstar Media Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were given a dividend of $1.69 per share. The ex-dividend date was Thursday, February 8th. This represents a $6.76 annualized dividend and a dividend yield of 4.26%. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.35. Nexstar Media Group’s dividend payout ratio (DPR) is 70.20%.

Insider Activity

In other news, CEO Perry A. Sook sold 31,758 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $158.66, for a total transaction of $5,038,724.28. Following the sale, the chief executive officer now owns 636,788 shares in the company, valued at approximately $101,032,784.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Perry A. Sook sold 31,758 shares of Nexstar Media Group stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $158.66, for a total value of $5,038,724.28. Following the transaction, the chief executive officer now owns 636,788 shares in the company, valued at approximately $101,032,784.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael Strober sold 1,000 shares of Nexstar Media Group stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $167.49, for a total transaction of $167,490.00. Following the completion of the transaction, the executive vice president now owns 1,076 shares in the company, valued at approximately $180,219.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,508 shares of company stock worth $7,487,950. 5.90% of the stock is currently owned by corporate insiders.

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.