The Manufacturers Life Insurance Company decreased its position in Nexstar Media Group Inc (NASDAQ:NXST) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,423 shares of the company’s stock after selling 985 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.07% of Nexstar Media Group worth $2,614,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Cerebellum GP LLC purchased a new position in shares of Nexstar Media Group in the fourth quarter valued at about $132,000. Victory Capital Management Inc. purchased a new position in shares of Nexstar Media Group in the third quarter valued at about $172,000. Public Employees Retirement Association of Colorado purchased a new position in shares of Nexstar Media Group in the fourth quarter valued at about $287,000. Parametrica Management Ltd purchased a new position in shares of Nexstar Media Group in the fourth quarter valued at about $360,000. Finally, SG Americas Securities LLC increased its position in shares of Nexstar Media Group by 56.0% in the third quarter. SG Americas Securities LLC now owns 5,333 shares of the company’s stock valued at $332,000 after acquiring an additional 1,915 shares during the period.
A number of equities analysts have issued reports on NXST shares. BidaskClub upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Thursday, December 7th. Noble Financial restated a “buy” rating on shares of Nexstar Media Group in a research report on Thursday, December 21st. Wells Fargo restated an “outperform” rating and issued a $102.00 price objective (up previously from $93.00) on shares of Nexstar Media Group in a research report on Thursday, January 4th. Royal Bank of Canada reaffirmed a “buy” rating and set a $95.00 target price on shares of Nexstar Media Group in a research note on Thursday, January 4th. Finally, Zacks Investment Research raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $87.67.
In related news, SVP Blake Russell sold 20,000 shares of the business’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $78.31, for a total transaction of $1,566,200.00. Following the sale, the senior vice president now owns 42,861 shares of the company’s stock, valued at $3,356,444.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Timothy C. Busch sold 10,000 shares of the business’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $79.13, for a total transaction of $791,300.00. Following the sale, the insider now directly owns 50,214 shares in the company, valued at approximately $3,973,433.82. The disclosure for this sale can be found here. Insiders have sold 35,000 shares of company stock worth $2,755,550 in the last three months. 8.40% of the stock is currently owned by insiders.
Shares of Nexstar Media Group stock traded down $0.03 on Thursday, hitting $67.62. 336,142 shares of the stock were exchanged, compared to its average volume of 612,146. The company has a market cap of $3,146.96, a price-to-earnings ratio of 6.77, a price-to-earnings-growth ratio of 0.65 and a beta of 1.82. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.57 and a quick ratio of 1.57. Nexstar Media Group Inc has a 52-week low of $55.95 and a 52-week high of $82.95.
Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.38 by $0.23. Nexstar Media Group had a net margin of 19.53% and a return on equity of 14.44%. The business had revenue of $653.66 million for the quarter, compared to analyst estimates of $645.98 million. During the same quarter in the previous year, the firm posted $0.64 earnings per share. Nexstar Media Group’s quarterly revenue was up 110.9% on a year-over-year basis. sell-side analysts expect that Nexstar Media Group Inc will post 8.38 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Friday, February 16th were paid a dividend of $0.375 per share. The ex-dividend date was Thursday, February 15th. This represents a $1.50 annualized dividend and a yield of 2.22%. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $0.30. Nexstar Media Group’s payout ratio is presently 15.02%.
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About Nexstar Media Group
Nexstar Media Group, Inc, formerly Nexstar Broadcasting Group, Inc, is a television broadcasting and digital media company. The Company is focused on the acquisition, development and operation of television stations and interactive community Websites, and digital media services in medium-sized markets in the United States.
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