Lowe Brockenbrough & Co. Inc. Sells 5,023 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Lowe Brockenbrough & Co. Inc. reduced its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 40.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,287 shares of the company’s stock after selling 5,023 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in Nexstar Media Group were worth $1,205,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of NXST. Capital Research Global Investors bought a new stake in shares of Nexstar Media Group in the 1st quarter worth approximately $92,323,000. Vanguard Group Inc. boosted its holdings in Nexstar Media Group by 3.9% in the first quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock valued at $580,689,000 after acquiring an additional 127,783 shares in the last quarter. Payden & Rygel Investment Group bought a new stake in Nexstar Media Group in the first quarter valued at $15,144,000. Copeland Capital Management LLC increased its position in Nexstar Media Group by 18.1% during the 3rd 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 period. Finally, AQR Capital Management LLC raised its holdings in Nexstar Media Group by 72.0% in the 2nd 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 in the last quarter. 95.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Nexstar Media Group Trading Up 0.7 %

NASDAQ NXST opened at $177.08 on Friday. Nexstar Media Group, Inc. has a 12 month low of $140.92 and a 12 month high of $187.27. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 2.92. The stock’s fifty day moving average price is $167.82 and its 200-day moving average price is $166.40. The stock has a market cap of $5.71 billion, a P/E ratio of 13.92, a P/E/G ratio of 0.20 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.28 billion. Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.64 earnings per share. As a group, equities analysts forecast that Nexstar Media Group, Inc. will post 25.72 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid 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 is 53.14%.

Insiders Place Their Bets

In other news, insider Gary Weitman sold 7,261 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $164.80, for a total transaction of $1,196,612.80. Following the transaction, the insider now directly owns 5,216 shares of the company’s stock, valued at $859,596.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Nexstar Media Group news, insider Gary Weitman sold 7,261 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was 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 approximately $859,596.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles Thomas Mcmillen sold 250 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $164.44, for a total transaction of $41,110.00. Following the sale, the director now directly owns 7,725 shares in the company, valued at approximately $1,270,299. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,112 shares of company stock valued at $6,887,029. Corporate insiders own 6.30% of the company’s stock.

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.