Wedge Capital Management L L P NC Lowers Stock Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Wedge Capital Management L L P NC reduced its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,276 shares of the company’s stock after selling 241 shares during the quarter. Wedge Capital Management L L P NC owned about 0.09% of Nexstar Media Group worth $4,589,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. HighTower Advisors LLC raised its stake in shares of Nexstar Media Group by 2.9% during the third quarter. HighTower Advisors LLC now owns 190,972 shares of the company’s stock worth $27,322,000 after acquiring an additional 5,389 shares in the last quarter. Copeland Capital Management LLC raised its position in shares of Nexstar Media Group by 15.3% in the 3rd quarter. Copeland Capital Management LLC now owns 502,639 shares of the company’s stock worth $72,063,000 after purchasing an additional 66,645 shares during the last quarter. Boston Financial Mangement LLC raised its position in Nexstar Media Group by 156.5% in the 3rd 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. American Century Companies Inc. raised its position in Nexstar Media Group by 519.6% in the 3rd quarter. American Century Companies Inc. now owns 51,659 shares of the company’s stock worth $7,406,000 after buying an additional 43,322 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its position in shares of Nexstar Media Group by 72.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 12,182 shares of the company’s stock valued at $1,747,000 after purchasing an additional 5,121 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NXST. Rosenblatt Securities cut their price objective on 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. Barrington Research restated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, March 7th. Finally, TheStreet upgraded Nexstar Media Group from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Nexstar Media Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.83.

Insider Transactions at Nexstar Media Group

In other news, Director Dennis J. Fitzsimons sold 2,000 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $170.82, for a total transaction of $341,640.00. Following the transaction, the director now owns 12,027 shares of the company’s stock, valued at approximately $2,054,452.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Dennis J. Fitzsimons sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $170.82, for a total transaction of $341,640.00. Following the sale, the director now owns 12,027 shares of the company’s stock, valued at $2,054,452.14. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sean Compton sold 3,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $162.61, for a total value of $487,830.00. Following the completion of the sale, the insider now directly owns 9,489 shares of the company’s stock, valued at approximately $1,543,006.29. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,508 shares of company stock valued at $7,487,950. 5.90% of the stock is currently owned by corporate insiders.

Nexstar Media Group Price Performance

NXST opened at $164.11 on Thursday. 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. The business’s fifty day simple moving average is $165.65 and its 200-day simple moving average is $158.91. The company has a market capitalization of $5.49 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 0.61 and a beta of 1.50.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $3.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the company posted $8.04 EPS. Nexstar Media Group’s quarterly revenue was down 12.3% compared to the same quarter last year. On average, equities research analysts anticipate that Nexstar Media Group, Inc. will post 26.73 earnings per share for the current fiscal year.

Nexstar Media Group Increases Dividend

The company also recently declared 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. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.12%. Nexstar Media Group’s dividend payout ratio is presently 70.20%.

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.