New Age Alpha Advisors LLC Cuts Position in Nexstar Media Group, Inc. $NXST

New Age Alpha Advisors LLC decreased its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 54.0% in the 4th quarter, HoldingsChannel reports. The fund owned 11,425 shares of the company’s stock after selling 13,424 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Nexstar Media Group were worth $2,320,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Torren Management LLC purchased a new position in Nexstar Media Group in the fourth quarter worth $28,000. Measured Wealth Private Client Group LLC purchased a new position in Nexstar Media Group in the third quarter worth $28,000. Root Financial Partners LLC purchased a new position in Nexstar Media Group in the third quarter worth $31,000. WPG Advisers LLC raised its position in 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 acquiring an additional 71 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its position in Nexstar Media Group by 164.5% in the third quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock worth $40,000 after acquiring an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Stock Down 0.3%

Nexstar Media Group stock opened at $188.03 on Wednesday. The company has a debt-to-equity ratio of 5.53, a quick ratio of 1.76 and a current ratio of 1.76. The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of 40.35, a price-to-earnings-growth ratio of 0.48 and a beta of 0.97. Nexstar Media Group, Inc. has a fifty-two week low of $164.00 and a fifty-two week high of $254.30. The stock’s fifty day moving average is $200.38 and its two-hundred day moving average is $207.99.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be paid a dividend of $1.86 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.0%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 159.66%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NXST shares. Zacks Research upgraded Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Benchmark lowered their target price on 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 lowered their target price on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Guggenheim upped their target price on Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a report on Friday, February 27th. Finally, Wall Street Zen raised Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $259.67.

Insiders Place Their Bets

In related news, insider Dan Lanzano sold 237 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $196.37, for a total transaction of $46,539.69. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sean Compton sold 5,000 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $196.00, for a total value of $980,000.00. Following the sale, the insider directly owned 11,252 shares in the company, valued at approximately $2,205,392. The trade was a 30.77% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.70% of the stock is owned by company insiders.

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.