III Capital Management Sells 1,927 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

III Capital Management decreased its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 39.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,000 shares of the company’s stock after selling 1,927 shares during the quarter. III Capital Management’s holdings in Nexstar Media Group were worth $496,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Copeland Capital Management LLC lifted its position in shares of Nexstar Media Group by 18.1% in the 3rd quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock worth $90,567,000 after acquiring an additional 83,829 shares during the period. AQR Capital Management LLC lifted its position in Nexstar Media Group by 72.0% in the second quarter. AQR Capital Management LLC now owns 199,811 shares of the company’s stock worth $32,769,000 after purchasing an additional 83,637 shares during the period. Dimensional Fund Advisors LP boosted its stake in Nexstar Media Group by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock worth $220,189,000 after buying an additional 62,331 shares in the last quarter. Long Focus Capital Management LLC increased its holdings in Nexstar Media Group by 86.2% in the 2nd quarter. Long Focus Capital Management LLC now owns 121,000 shares of the company’s stock valued at $20,087,000 after buying an additional 56,000 shares during the period. Finally, Payden & Rygel raised its stake in shares of Nexstar Media Group by 40.4% in the 3rd quarter. Payden & Rygel now owns 110,200 shares of the company’s stock valued at $18,222,000 after buying an additional 31,700 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NXST. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Barrington Research reiterated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, November 7th. Guggenheim cut their target price on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research report on Friday, October 4th. StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company cut their price objective on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $198.50.

Nexstar Media Group Price Performance

NASDAQ NXST traded down $0.47 on Tuesday, hitting $172.69. 6,978 shares of the company were exchanged, compared to its average volume of 326,531. Nexstar Media Group, Inc. has a 1-year low of $141.38 and a 1-year high of $191.86. The firm has a 50 day moving average of $169.46 and a two-hundred day moving average of $167.01. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. The company has a market cap of $5.36 billion, a P/E ratio of 10.02, a P/E/G ratio of 0.20 and a beta of 1.45.

Nexstar Media Group (NASDAQ:NXST) last released 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). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the company earned $0.70 earnings per share. Nexstar Media Group’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, equities analysts predict 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 was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $1.69 dividend. The ex-dividend date was Friday, November 15th. This represents a $6.76 annualized dividend and a dividend yield of 3.91%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 39.10%.

Insider Transactions at Nexstar Media Group

In other news, CEO Perry A. Sook sold 12,239 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $190.28, for a total value of $2,328,836.92. Following the transaction, the chief executive officer now directly owns 674,694 shares in the company, valued at $128,380,774.32. This trade represents a 1.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brett Jenkins sold 4,331 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $170.64, for a total value of $739,041.84. Following the completion of the transaction, the insider now directly owns 25,540 shares in the company, valued at $4,358,145.60. The trade was a 14.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,423 shares of company stock worth $7,916,739 over the last 90 days. 6.30% of the stock is owned by insiders.

Nexstar Media Group 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.