Brown Advisory Inc. Decreases Holdings in Nexstar Media Group, Inc. $NXST

Brown Advisory Inc. cut its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 4.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 196,086 shares of the company’s stock after selling 9,615 shares during the quarter. Brown Advisory Inc. owned 0.65% of Nexstar Media Group worth $39,815,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. CWA Asset Management Group LLC grew its holdings in shares of Nexstar Media Group by 1.7% in the fourth quarter. CWA Asset Management Group LLC now owns 3,103 shares of the company’s stock worth $630,000 after purchasing an additional 51 shares during the last quarter. Merit Financial Group LLC grew its holdings in shares of Nexstar Media Group by 1.6% in the fourth quarter. Merit Financial Group LLC now owns 3,571 shares of the company’s stock worth $725,000 after purchasing an additional 56 shares during the last quarter. Truist Financial Corp grew its holdings in shares of Nexstar Media Group by 5.2% in 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 last quarter. WPG Advisers LLC grew its holdings in shares of Nexstar Media Group by 65.7% in the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock worth $36,000 after purchasing an additional 71 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Nexstar Media Group by 15.7% in the second quarter. Geneos Wealth Management Inc. now owns 589 shares of the company’s stock worth $102,000 after purchasing an additional 80 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Nexstar Media Group Stock Performance

Shares of NXST stock opened at $172.29 on Tuesday. Nexstar Media Group, Inc. has a 12 month low of $164.00 and a 12 month high of $254.30. The stock has a market cap of $5.26 billion, a PE ratio of 36.97, a price-to-earnings-growth ratio of 0.44 and a beta of 0.91. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53. The company’s fifty day moving average price is $190.98 and its 200-day moving average price is $207.14.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Friday, May 15th. Nexstar Media Group’s payout ratio is 159.66%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NXST shares. Zacks Research upgraded shares of Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. 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. Deutsche Bank Aktiengesellschaft cut their price target on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Wells Fargo & Company cut their price target on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Finally, Wall Street Zen upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $259.67.

Insider Activity

In other news, insider Brett Jenkins sold 284 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $176.42, for a total transaction of $50,103.28. Following the sale, the insider owned 28,443 shares in the company, valued at approximately $5,017,914.06. The trade was a 0.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Gary Weitman sold 194 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $174.21, for a total transaction of $33,796.74. Following the sale, the insider owned 6,568 shares in the company, valued at approximately $1,144,211.28. This trade represents a 2.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 19,062 shares of company stock worth $3,534,023. 7.00% of the stock is currently owned by corporate insiders.

Nexstar Media Group Company Profile

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.