Copeland Capital Management LLC Cuts Holdings in Nexstar Media Group, Inc. $NXST

Copeland Capital Management LLC cut its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 43.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 213,042 shares of the company’s stock after selling 163,579 shares during the period. Copeland Capital Management LLC’s holdings in Nexstar Media Group were worth $38,524,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sentinel Dome Partners LLC purchased a new stake in Nexstar Media Group during the 4th quarter valued at $2,315,000. Geode Capital Management LLC boosted its stake in shares of Nexstar Media Group by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 773,443 shares of the company’s stock worth $157,114,000 after buying an additional 13,084 shares during the last quarter. CPC Advisors LLC grew its holdings in shares of Nexstar Media Group by 114.3% in the first quarter. CPC Advisors LLC now owns 26,651 shares of the company’s stock worth $4,819,000 after acquiring an additional 14,217 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Nexstar Media Group by 3,648.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 64,995 shares of the company’s stock worth $13,197,000 after acquiring an additional 63,261 shares during the period. Finally, M&T Bank Corp grew its holdings in shares of Nexstar Media Group by 2,573.4% in the fourth quarter. M&T Bank Corp now owns 140,112 shares of the company’s stock worth $28,494,000 after acquiring an additional 134,871 shares during the period. Institutional investors own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

NXST has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lowered their target price on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Citigroup upgraded Nexstar Media Group from a “neutral” rating to a “buy” rating and cut their price target for the company from $252.00 to $220.00 in a research note on Friday, April 10th. Benchmark reduced their price target on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Zacks Research cut shares of Nexstar Media Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $259.67.

Insider Buying and Selling at Nexstar Media Group

In related news, CEO Perry A. Sook acquired 12,235 shares of the stock in a transaction dated Friday, June 26th. The shares were purchased at an average cost of $162.26 per share, with a total value of $1,985,251.10. Following the transaction, the chief executive officer directly owned 899,044 shares in the company, valued at approximately $145,878,879.44. This represents a 1.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Blake Russell sold 261 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $170.81, for a total value of $44,581.41. Following the transaction, the executive vice president owned 28,296 shares of the company’s stock, valued at approximately $4,833,239.76. This trade represents a 0.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 22,813 shares of company stock valued at $4,174,731 in the last ninety days. 7.00% of the stock is currently owned by company insiders.

Nexstar Media Group Trading Down 0.8%

NASDAQ:NXST opened at $183.71 on Friday. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.76 and a quick ratio of 1.76. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of 39.42, a price-to-earnings-growth ratio of 0.47 and a beta of 0.91. Nexstar Media Group, Inc. has a one year low of $154.47 and a one year high of $254.30. The business has a fifty day moving average price of $179.97 and a 200-day moving average price of $202.90.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Friday, May 15th. Nexstar Media Group’s payout ratio is currently 159.66%.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.