EMC Capital Management Sells 285 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

EMC Capital Management trimmed its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 9.1% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 2,831 shares of the company’s stock after selling 285 shares during the period. EMC Capital Management’s holdings in Nexstar Media Group were worth $468,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. bought a new position in Nexstar Media Group in the first quarter valued at about $207,000. State of Michigan Retirement System grew its position in shares of Nexstar Media Group by 2.6% during the 1st quarter. State of Michigan Retirement System now owns 7,900 shares of the company’s stock worth $1,361,000 after buying an additional 200 shares during the period. Retirement Systems of Alabama raised its stake in shares of Nexstar Media Group by 0.3% during the first quarter. Retirement Systems of Alabama now owns 40,479 shares of the company’s stock worth $6,974,000 after buying an additional 107 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Nexstar Media Group in the first quarter valued at approximately $2,111,000. Finally, BNP Paribas Financial Markets boosted its stake in Nexstar Media Group by 116.3% in the first quarter. BNP Paribas Financial Markets now owns 30,384 shares of the company’s stock valued at $5,235,000 after acquiring an additional 16,338 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group Stock Up 0.7 %

NASDAQ:NXST opened at $177.08 on Friday. The stock has a 50-day simple moving average of $167.71 and a 200 day simple moving average of $166.28. Nexstar Media Group, Inc. has a 52-week low of $140.92 and a 52-week high of $187.27. The company has a market cap of $5.71 billion, a PE ratio of 13.92, a PEG ratio of 0.20 and a beta of 1.49. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $4.48 by ($0.94). Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the business earned $2.64 earnings per share. Nexstar Media Group’s revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts expect that Nexstar Media Group, Inc. will post 25.72 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $1.69 per share. The ex-dividend date is Friday, November 15th. This represents a $6.76 annualized dividend and a yield of 3.82%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 53.14%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on NXST shares. Guggenheim cut their price target on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Barrington Research restated an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, August 8th. StockNews.com lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Wells Fargo & Company cut their price target on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Finally, Benchmark decreased their price objective on shares of Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating for the company in a report on Monday, October 14th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $199.71.

Insider Transactions at Nexstar Media Group

In related news, insider Sean Compton sold 3,930 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $160.61, for a total transaction of $631,197.30. Following the sale, the insider now owns 10,684 shares in the company, valued at approximately $1,715,957.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Gary Weitman sold 7,261 shares of Nexstar Media Group stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $164.80, for a total value of $1,196,612.80. Following the completion of the transaction, the insider now owns 5,216 shares of the company’s stock, valued at $859,596.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sean Compton sold 3,930 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $160.61, for a total transaction of $631,197.30. Following the completion of the sale, the insider now directly owns 10,684 shares in the company, valued at approximately $1,715,957.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,112 shares of company stock worth $6,887,029 in the last three months. Insiders own 6.30% of the company’s stock.

Nexstar Media Group Company 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.