Shelton Capital Management Lowers Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Shelton Capital Management lessened its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 10.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,716 shares of the company’s stock after selling 197 shares during the period. Shelton Capital Management’s holdings in Nexstar Media Group were worth $286,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of NXST. Brown Brothers Harriman & Co. acquired a new position in Nexstar Media Group in the first quarter valued at about $26,000. Global Retirement Partners LLC raised its stake in shares of Nexstar Media Group by 176.1% in the 1st quarter. Global Retirement Partners LLC now owns 254 shares of the company’s stock valued at $42,000 after acquiring an additional 162 shares during the period. IFP Advisors Inc lifted its holdings in shares of Nexstar Media Group by 19.1% in the 2nd quarter. IFP Advisors Inc now owns 705 shares of the company’s stock worth $47,000 after acquiring an additional 113 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Nexstar Media Group in the 2nd quarter valued at approximately $58,000. Finally, Spire Wealth Management increased its holdings in Nexstar Media Group by 50.6% in the 1st quarter. Spire Wealth Management now owns 476 shares of the company’s stock valued at $82,000 after purchasing an additional 160 shares during the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Nexstar Media Group Stock Up 0.9 %

Nexstar Media Group stock opened at $151.17 on Tuesday. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.57 and a current ratio of 1.57. Nexstar Media Group, Inc. has a fifty-two week low of $132.30 and a fifty-two week high of $217.76. The stock has a 50-day simple moving average of $143.70 and a 200-day simple moving average of $157.10. The company has a market capitalization of $5.13 billion, a P/E ratio of 13.02, a PEG ratio of 1.42 and a beta of 1.53.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Wednesday, November 8th. The company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.83). The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.16 billion. Nexstar Media Group had a return on equity of 20.92% and a net margin of 8.51%. The firm’s revenue for the quarter was down 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.30 EPS. Equities research analysts expect that Nexstar Media Group, Inc. will post 11.25 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 27th. Investors of record on Friday, November 10th will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Thursday, November 9th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 46.51%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NXST shares. Deutsche Bank Aktiengesellschaft dropped their price objective on Nexstar Media Group from $210.00 to $205.00 and set a “buy” rating for the company in a research note on Tuesday, August 15th. Barrington Research reaffirmed an “outperform” rating and issued a $235.00 target price on shares of Nexstar Media Group in a report on Tuesday, August 8th. Wells Fargo & Company lowered their price target on shares of Nexstar Media Group from $175.00 to $167.00 and set an “equal weight” rating for the company in a report on Thursday, November 9th. Rosenblatt Securities restated a “buy” rating and issued a $230.00 price objective on shares of Nexstar Media Group in a report on Friday, September 15th. Finally, StockNews.com started coverage on shares of Nexstar Media Group in a research note on Thursday, October 5th. They set a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $214.50.

Insider Buying and Selling at Nexstar Media Group

In related news, insider Thomas Carter sold 6,000 shares of Nexstar Media Group stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $149.36, for a total value of $896,160.00. Following the transaction, the insider now directly owns 92,082 shares in the company, valued at approximately $13,753,367.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 5.90% of the stock is owned by company insiders.

About Nexstar Media Group

Nexstar Media Group, Inc, a television broadcasting and digital media company, focuses on the acquisition, development, and operation of television stations and interactive community websites and digital media services in the United States. The company offers free programming to television viewing audiences.