Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,458 shares of the company’s stock after selling 286 shares during the period. Amalgamated Bank owned 0.07% of Nexstar Media Group worth $3,520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. grew its holdings in Nexstar Media Group by 350.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 239 shares of the company’s stock valued at $37,000 after purchasing an additional 186 shares during the period. OLD Second National Bank of Aurora purchased a new position in shares of Nexstar Media Group in the 4th quarter worth $45,000. Itau Unibanco Holding S.A. acquired a new position in Nexstar Media Group in the third quarter valued at $65,000. Signaturefd LLC grew its position in Nexstar Media Group by 20.3% during the fourth quarter. Signaturefd LLC now owns 420 shares of the company’s stock valued at $66,000 after acquiring an additional 71 shares during the period. Finally, Arlington Trust Co LLC acquired a new stake in Nexstar Media Group during the fourth quarter worth about $81,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Perry A. Sook sold 31,758 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $158.66, for a total transaction of $5,038,724.28. Following the completion of the transaction, the chief executive officer now directly owns 636,788 shares in the company, valued at approximately $101,032,784.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Lisbeth Mcnabb sold 2,300 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $165.00, for a total value of $379,500.00. Following the sale, the director now owns 12,727 shares of the company’s stock, valued at approximately $2,099,955. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Perry A. Sook sold 31,758 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $101,032,784.08. The disclosure for this sale can be found here. Insiders have sold 46,508 shares of company stock worth $7,487,950 in the last three months. 5.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. TheStreet upgraded Nexstar Media Group from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Rosenblatt Securities decreased their price objective 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, Barrington Research reissued an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Nexstar Media Group currently has an average rating of “Moderate Buy” and a consensus price target of $193.83.

Nexstar Media Group Trading Up 5.8 %

NXST opened at $177.94 on Friday. The firm’s 50 day moving average is $164.90 and its 200-day moving average is $160.59. Nexstar Media Group, Inc. has a 52-week low of $132.30 and a 52-week high of $187.32. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 2.90. The firm has a market capitalization of $5.86 billion, a P/E ratio of 18.48, a P/E/G ratio of 0.62 and a beta of 1.50.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly 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). The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Nexstar Media Group had a return on equity of 14.06% and a net margin of 7.03%. The business’s quarterly revenue was down 12.3% on a year-over-year basis. During the same period last year, the firm earned $8.04 EPS. Analysts expect that Nexstar Media Group, Inc. will post 26.73 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date is Thursday, May 9th. Nexstar Media Group’s dividend payout ratio is currently 70.20%.

Nexstar Media Group Company 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.