Nexstar Media Group, Inc. $NXST Stock: Sterling Capital Management LLC Lowers Holdings

Sterling Capital Management LLC trimmed its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 94.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 824 shares of the company’s stock after selling 13,562 shares during the period. Sterling Capital Management LLC’s holdings in Nexstar Media Group were worth $133,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Epoch Investment Partners Inc. boosted its holdings in shares of Nexstar Media Group by 685.8% during the 1st quarter. Epoch Investment Partners Inc. now owns 92,817 shares of the company’s stock valued at $16,784,000 after acquiring an additional 81,005 shares in the last quarter. Foster & Motley Inc. acquired a new position in Nexstar Media Group in the 2nd quarter worth about $8,529,000. Bank of America Corp DE raised its position in Nexstar Media Group by 17.0% in the first quarter. Bank of America Corp DE now owns 173,269 shares of the company’s stock valued at $31,332,000 after purchasing an additional 25,193 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its position in Nexstar Media Group by 1,573.4% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 18,508 shares of the company’s stock worth $3,347,000 after buying an additional 17,402 shares during the period. Finally, Paralel Advisors LLC acquired a new position in shares of Nexstar Media Group during the second quarter worth $2,285,000. 95.30% of the stock is currently owned by institutional investors.

Insider Transactions at Nexstar Media Group

In other Nexstar Media Group news, Director Bernadette S. Aulestia sold 300 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $186.80, for a total value of $56,040.00. Following the completion of the sale, the director owned 4,383 shares of the company’s stock, valued at approximately $818,744.40. This trade represents a 6.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Michael Biard sold 2,465 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $185.82, for a total value of $458,046.30. Following the sale, the chief operating officer owned 20,890 shares of the company’s stock, valued at approximately $3,881,779.80. This represents a 10.55% decrease in their position. 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. In the last 90 days, insiders have sold 9,596 shares of company stock valued at $1,733,169. 7.00% of the stock is currently owned by corporate insiders.

Nexstar Media Group Stock Performance

NASDAQ:NXST opened at $171.44 on Monday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 5.09. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 32.91 and a beta of 0.94. The firm has a fifty day simple moving average of $167.96 and a two-hundred day simple moving average of $192.48. Nexstar Media Group, Inc. has a 12 month low of $153.17 and a 12 month high of $254.30.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, August 6th. The company reported $3.61 earnings per share for the quarter, missing the consensus estimate of $5.98 by ($2.37). Nexstar Media Group had a net margin of 3.20% and a return on equity of 24.02%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period last year, the firm posted $3.06 earnings per share. The company’s revenue for the quarter was up 62.2% on a year-over-year basis. Analysts expect that Nexstar Media Group, Inc. will post 32.88 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 13th will be paid a $1.86 dividend. The ex-dividend date is Friday, November 13th. This represents a $7.44 annualized dividend and a dividend yield of 4.3%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 142.80%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Nexstar Media Group in a research report on Monday, August 24th. Wall Street Zen lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Deutsche Bank Aktiengesellschaft decreased their target price on Nexstar Media Group from $255.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Wells Fargo & Company lowered their target price on Nexstar Media Group from $253.00 to $249.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Finally, Zacks Research lowered Nexstar Media Group from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Nexstar Media Group currently has an average rating of “Moderate Buy” and an average target price of $256.50.

About Nexstar Media Group

Nexstar Media Group, Inc is a television broadcasting and digital media company headquartered in Irving, Texas. The company operates local television stations across the United States, with stations affiliated with major networks including ABC, NBC, CBS, FOX, The CW and MyNetworkTV. Its local media operations provide news, weather, sports, entertainment and other programming to audiences in markets nationwide.

Nexstar also owns and operates national media properties, including NewsNation, a cable and streaming news network, and The Hill, a political news and information platform.