King Luther Capital Management Corp Reduces Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

King Luther Capital Management Corp trimmed its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 3.5% during the third quarter, Holdings Channel reports. The firm owned 33,143 shares of the company’s stock after selling 1,188 shares during the quarter. King Luther Capital Management Corp’s holdings in Nexstar Media Group were worth $5,480,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Nexstar Media Group by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock worth $580,689,000 after buying an additional 127,783 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Nexstar Media Group by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock valued at $220,189,000 after purchasing an additional 62,331 shares in the last quarter. Copeland Capital Management LLC grew its position in shares of Nexstar Media Group by 18.1% in the third quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock valued at $90,567,000 after purchasing an additional 83,829 shares during the last quarter. Capital Research Global Investors purchased a new position in shares of Nexstar Media Group during the 1st quarter worth approximately $92,323,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Nexstar Media Group by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 418,815 shares of the company’s stock worth $69,528,000 after purchasing an additional 2,145 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Trading Up 1.4 %

Shares of NXST stock opened at $169.12 on Friday. The firm’s 50-day simple moving average is $168.93 and its 200-day simple moving average is $167.15. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. Nexstar Media Group, Inc. has a 1-year low of $141.38 and a 1-year high of $191.86. The firm has a market cap of $5.25 billion, a P/E ratio of 9.78, a PEG ratio of 0.20 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing the consensus estimate of $5.51 by ($0.24). The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period last year, the company posted $0.70 EPS. As a group, equities analysts forecast that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group’s payout ratio is currently 39.10%.

Insider Buying and Selling at Nexstar Media Group

In other news, EVP Rachel Morgan sold 6,196 shares of Nexstar Media Group stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $171.30, for a total value of $1,061,374.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Perry A. Sook sold 12,239 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $190.28, for a total transaction of $2,328,836.92. Following the sale, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at approximately $128,380,774.32. This trade represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,903 shares of company stock valued at $7,833,240. Company insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NXST shares. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, November 7th. Guggenheim decreased their price objective 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. Wells Fargo & Company cut their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Benchmark reissued a “buy” rating and issued a $215.00 price objective on shares of Nexstar Media Group in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $198.50.

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.