Hohimer Wealth Management LLC Cuts Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Hohimer Wealth Management LLC reduced its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 2.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 14,665 shares of the company’s stock after selling 332 shares during the quarter. Hohimer Wealth Management LLC’s holdings in Nexstar Media Group were worth $2,299,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NXST. Channing Capital Management LLC raised its stake in Nexstar Media Group by 738.8% in the 3rd 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 period. Norges Bank bought a new stake in shares of Nexstar Media Group during the fourth quarter valued at about $51,812,000. Boston Financial Mangement LLC increased its position in shares of Nexstar Media Group by 156.5% during the third quarter. Boston Financial Mangement LLC now owns 238,670 shares of the company’s stock valued at $34,218,000 after buying an additional 145,617 shares during the period. International Assets Investment Management LLC increased its position in shares of Nexstar Media Group by 15,107.2% during the fourth quarter. International Assets Investment Management LLC now owns 122,570 shares of the company’s stock valued at $19,213,000 after buying an additional 121,764 shares during the period. Finally, New York State Common Retirement Fund increased its position in shares of Nexstar Media Group by 71.0% during the third quarter. New York State Common Retirement Fund now owns 249,679 shares of the company’s stock valued at $35,796,000 after buying an additional 103,636 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on NXST. TheStreet upgraded Nexstar Media Group from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Benchmark reiterated a “buy” rating and set a $225.00 price target on shares of Nexstar Media Group in a research report on Friday, May 10th. Wells Fargo & Company upgraded shares of Nexstar Media Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $190.00 to $221.00 in a research report on Monday, May 13th. Rosenblatt Securities decreased their price objective on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. Finally, Barrington Research restated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, May 9th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $206.00.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, CEO Perry A. Sook sold 31,758 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $158.66, for a total transaction of $5,038,724.28. Following the completion of the transaction, the chief executive officer now owns 636,788 shares of the company’s stock, valued at $101,032,784.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Perry A. Sook sold 31,758 shares of Nexstar Media Group stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $158.66, for a total value of $5,038,724.28. Following the completion of the transaction, the chief executive officer now owns 636,788 shares of the company’s stock, valued at approximately $101,032,784.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Sean Compton sold 3,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $162.61, for a total value of $487,830.00. Following the completion of the transaction, the insider now directly owns 9,489 shares of the company’s stock, valued at approximately $1,543,006.29. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,848 shares of company stock valued at $7,877,745. 5.90% of the stock is currently owned by company insiders.

Nexstar Media Group Trading Down 2.3 %

Shares of NASDAQ:NXST traded down $3.70 during trading on Thursday, reaching $157.72. 178,335 shares of the company traded hands, compared to its average volume of 336,837. The business’s fifty day moving average is $166.23 and its 200-day moving average is $162.52. Nexstar Media Group, Inc. has a 52-week low of $132.30 and a 52-week high of $187.32. The firm has a market capitalization of $5.18 billion, a price-to-earnings ratio of 13.66, a P/E/G ratio of 0.59 and a beta of 1.50. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 2.85.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, May 9th. The company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the firm posted $2.97 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. As a group, analysts forecast that Nexstar Media Group, Inc. will post 27.62 EPS for the current year.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 4.29%. The ex-dividend date is Thursday, May 9th. Nexstar Media Group’s dividend payout ratio is currently 57.19%.

About Nexstar Media Group

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.