Nexstar Media Group, Inc. $NXST Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lowered its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,388,430 shares of the company’s stock after selling 13,842 shares during the period. Dimensional Fund Advisors LP’s holdings in Nexstar Media Group were worth $251,092,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Merit Financial Group LLC grew its holdings in shares of Nexstar Media Group by 1.6% in the 4th quarter. Merit Financial Group LLC now owns 3,571 shares of the company’s stock worth $725,000 after acquiring an additional 56 shares during the last quarter. Truist Financial Corp raised its position in shares of Nexstar Media Group by 5.2% during the fourth quarter. Truist Financial Corp now owns 1,139 shares of the company’s stock worth $231,000 after purchasing an additional 56 shares during the period. WPG Advisers LLC lifted its holdings in shares of Nexstar Media Group by 65.7% during the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after purchasing an additional 71 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Nexstar Media Group by 15.7% during the second quarter. Geneos Wealth Management Inc. now owns 589 shares of the company’s stock valued at $102,000 after purchasing an additional 80 shares during the last quarter. Finally, Trust Point Inc. boosted its position in shares of Nexstar Media Group by 4.1% in the 4th quarter. Trust Point Inc. now owns 2,199 shares of the company’s stock valued at $447,000 after purchasing an additional 87 shares during the period. 95.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NXST has been the topic of a number of analyst reports. Wall Street Zen cut Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexstar Media Group in a report on Wednesday, May 27th. Barrington Research reissued an “outperform” rating and issued a $290.00 target price on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Finally, Benchmark cut their price target on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $259.67.

Nexstar Media Group Stock Performance

Shares of Nexstar Media Group stock opened at $181.16 on Friday. The stock has a market cap of $5.53 billion, a PE ratio of 38.88, a price-to-earnings-growth ratio of 0.49 and a beta of 0.91. The business has a fifty day simple moving average of $178.73 and a 200-day simple moving average of $202.28. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53. Nexstar Media Group, Inc. has a 12 month low of $154.47 and a 12 month high of $254.30.

Nexstar Media Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Friday, May 15th. Nexstar Media Group’s dividend payout ratio is currently 159.66%.

Insider Activity

In other news, insider Dana Zimmer sold 876 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $170.81, for a total value of $149,629.56. Following the transaction, the insider owned 5,800 shares in the company, valued at $990,698. This represents a 13.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Perry A. Sook purchased 12,235 shares of Nexstar Media Group stock in a transaction dated Friday, June 26th. The stock was bought at an average cost of $162.26 per share, with a total value of $1,985,251.10. Following the completion of the transaction, the chief executive officer directly owned 899,044 shares of the company’s stock, valued at $145,878,879.44. This represents a 1.38% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders sold 22,813 shares of company stock worth $4,174,731. Corporate insiders own 7.00% of the company’s stock.

About Nexstar Media Group

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.