Brown Advisory Inc. Lowers Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Brown Advisory Inc. decreased its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXSTFree Report) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 358,465 shares of the company’s stock after selling 727 shares during the period. Brown Advisory Inc. owned about 1.06% of Nexstar Media Group worth $56,189,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. LSV Asset Management lifted its position in shares of Nexstar Media Group by 5.5% during the fourth quarter. LSV Asset Management now owns 1,384,505 shares of the company’s stock valued at $217,021,000 after purchasing an additional 72,462 shares in the last quarter. Copeland Capital Management LLC grew its holdings in shares of Nexstar Media Group by 3.4% in the fourth quarter. Copeland Capital Management LLC now owns 519,567 shares of the company’s stock valued at $81,442,000 after acquiring an additional 16,928 shares in the last quarter. Channing Capital Management LLC increased its position in shares of Nexstar Media Group by 738.8% during the third quarter. Channing Capital Management LLC now owns 506,212 shares of the company’s stock valued at $72,576,000 after acquiring an additional 445,859 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Nexstar Media Group by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 324,995 shares of the company’s stock worth $50,943,000 after acquiring an additional 2,904 shares during the period. Finally, New York State Common Retirement Fund boosted its position in Nexstar Media Group by 71.0% in the third quarter. New York State Common Retirement Fund now owns 249,679 shares of the company’s stock worth $35,796,000 after purchasing an additional 103,636 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Nexstar Media Group Stock Performance

Shares of NASDAQ:NXST traded down $0.98 during midday trading on Friday, reaching $169.56. 250,901 shares of the company traded hands, compared to its average volume of 299,506. The firm’s fifty day moving average price is $166.43 and its two-hundred day moving average price is $162.22. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 0.61 and a beta of 1.50. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 2.85. Nexstar Media Group, Inc. has a 12 month low of $132.30 and a 12 month high of $187.32.

Nexstar Media Group (NASDAQ:NXSTGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.28 by $0.88. Nexstar Media Group had a return on equity of 17.18% and a net margin of 8.29%. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the prior year, the business posted $2.97 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. On average, equities analysts expect that Nexstar Media Group, Inc. will post 27.82 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a $1.69 dividend. This represents a $6.76 annualized dividend and a yield of 3.99%. The ex-dividend date is Thursday, May 9th. Nexstar Media Group’s payout ratio is 57.19%.

Insider Activity

In related news, Director Dennis J. Fitzsimons sold 2,000 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $170.82, for a total value of $341,640.00. Following the sale, the director now owns 12,027 shares in the company, valued at $2,054,452.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Nexstar Media Group news, EVP Michael Strober sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $167.49, for a total value of $167,490.00. Following the completion of the transaction, the executive vice president now owns 1,076 shares of the company’s stock, valued at approximately $180,219.24. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Dennis J. Fitzsimons sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $170.82, for a total transaction of $341,640.00. Following the sale, the director now owns 12,027 shares in the company, valued at approximately $2,054,452.14. The disclosure for this sale can be found here. Insiders sold 46,508 shares of company stock worth $7,487,950 in the last three months. Corporate insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on NXST. Wells Fargo & Company upgraded Nexstar Media Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $190.00 to $221.00 in a research note on Monday, May 13th. Rosenblatt Securities decreased their price target on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. Benchmark reiterated a “buy” rating and issued a $225.00 price objective on shares of Nexstar Media Group in a research note on Friday, May 10th. TheStreet raised Nexstar Media Group from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Finally, Barrington Research reaffirmed an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Nexstar Media Group presently has a consensus rating of “Moderate Buy” and an average price target of $206.00.

Read Our Latest Research Report on NXST

Nexstar Media Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Nexstar Media Group (NASDAQ:NXST)

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