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

Brown Advisory Inc. lessened its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 196,086 shares of the company’s stock after selling 9,615 shares during the quarter. Brown Advisory Inc.’s holdings in Nexstar Media Group were worth $39,815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in Nexstar Media Group by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,402,272 shares of the company’s stock worth $284,738,000 after buying an additional 10,949 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Nexstar Media Group by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,181,727 shares of the company’s stock worth $239,950,000 after buying an additional 23,360 shares during the last quarter. Alliancebernstein L.P. raised its position in Nexstar Media Group by 27.1% in the 2nd quarter. Alliancebernstein L.P. now owns 882,322 shares of the company’s stock worth $152,598,000 after buying an additional 187,864 shares during the last quarter. Geode Capital Management LLC raised its position in Nexstar Media Group by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 773,443 shares of the company’s stock worth $157,114,000 after buying an additional 13,084 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in Nexstar Media Group by 118.1% in the 2nd quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock worth $93,795,000 after buying an additional 294,308 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NXST. Benchmark decreased their target price on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Wall Street Zen raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Guggenheim upped their price target on shares of Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Wells Fargo & Company reduced their price target on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Finally, Zacks Research raised shares of Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $259.67.

Nexstar Media Group Trading Down 1.3%

Shares of NASDAQ:NXST opened at $172.29 on Tuesday. The stock has a 50 day moving average of $190.98 and a 200 day moving average of $207.14. The company 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. Nexstar Media Group, Inc. has a 12-month low of $164.00 and a 12-month high of $254.30.

Nexstar Media Group Dividend Announcement

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

Insider Activity at Nexstar Media Group

In related news, Director Charles Thomas Mcmillen sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $180.00, for a total transaction of $180,000.00. Following the completion of the transaction, the director directly owned 5,658 shares in the company, valued at approximately $1,018,440. The trade was a 15.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Andrew Alford sold 778 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $176.42, for a total value of $137,254.76. Following the transaction, the insider owned 14,357 shares of the company’s stock, valued at approximately $2,532,861.94. This trade represents a 5.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 19,062 shares of company stock worth $3,534,023 in the last quarter. 7.00% of the stock is currently owned by insiders.

Nexstar Media Group 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.