King Luther Capital Management Corp Cuts Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

King Luther Capital Management Corp reduced its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 23.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,085 shares of the company’s stock after selling 10,429 shares during the period. King Luther Capital Management Corp owned 0.10% of Nexstar Media Group worth $5,343,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of NXST. NBC Securities Inc. purchased a new position in shares of Nexstar Media Group during the 3rd quarter worth about $189,000. Victory Capital Management Inc. raised its holdings in Nexstar Media Group by 6.2% in the third quarter. Victory Capital Management Inc. now owns 11,772 shares of the company’s stock valued at $1,688,000 after buying an additional 688 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Nexstar Media Group by 5.0% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,608 shares of the company’s stock valued at $374,000 after buying an additional 124 shares during the period. Zions Bancorporation N.A. raised its holdings in Nexstar Media Group by 8.4% in the third quarter. Zions Bancorporation N.A. now owns 9,500 shares of the company’s stock valued at $1,362,000 after buying an additional 733 shares during the period. Finally, Cookson Peirce & Co. Inc. raised its holdings in Nexstar Media Group by 6.7% in the third quarter. Cookson Peirce & Co. Inc. now owns 2,725 shares of the company’s stock valued at $391,000 after buying an additional 171 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Nexstar Media Group news, EVP Blake Russell sold 433 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $167.43, for a total value of $72,497.19. Following the sale, the executive vice president now directly owns 25,537 shares in the company, valued at $4,275,659.91. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Nexstar Media Group 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 transaction of $5,038,724.28. Following 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 document filed with the SEC, which is available at this hyperlink. Also, EVP Blake Russell sold 433 shares of Nexstar Media Group stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $167.43, for a total value of $72,497.19. Following the transaction, the executive vice president now directly owns 25,537 shares in the company, valued at approximately $4,275,659.91. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,373 shares of company stock worth $7,632,777. 5.90% of the stock is owned by corporate insiders.

Nexstar Media Group Stock Down 0.1 %

Shares of NXST stock traded down $0.11 during mid-day trading on Thursday, reaching $161.31. 35,655 shares of the company were exchanged, compared to its average volume of 335,455. Nexstar Media Group, Inc. has a fifty-two week low of $132.30 and a fifty-two week high of $187.32. The business’s 50 day simple moving average is $166.23 and its 200 day simple moving average is $162.52. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.80 and a current ratio of 1.80. The company has a market capitalization of $5.30 billion, a P/E ratio of 13.66, a P/E/G ratio of 0.59 and a beta of 1.50.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, May 9th. The company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.28 by $0.88. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the previous year, the business earned $2.97 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. Research analysts predict that Nexstar Media Group, Inc. will post 27.62 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a $1.69 dividend. This represents a $6.76 annualized dividend and a yield of 4.19%. The ex-dividend date is Thursday, May 9th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 57.19%.

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.