Navellier & Associates Inc. Has $3.03 Million Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Navellier & Associates Inc. cut its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 4.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,336 shares of the company’s stock after selling 874 shares during the period. Navellier & Associates Inc. owned 0.06% of Nexstar Media Group worth $3,032,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Nexstar Media Group by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock worth $580,689,000 after acquiring an additional 127,783 shares during the period. Dimensional Fund Advisors LP raised its stake in Nexstar Media Group by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock worth $220,189,000 after buying an additional 62,331 shares during the period. Copeland Capital Management LLC lifted its holdings in Nexstar Media Group by 18.1% during the third quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock worth $90,567,000 after acquiring an additional 83,829 shares in the last quarter. Capital Research Global Investors bought a new position in shares of Nexstar Media Group during the 1st quarter valued at about $92,323,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Nexstar Media Group by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 418,815 shares of the company’s stock valued at $69,528,000 after buying an additional 2,145 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NXST. Deutsche Bank Aktiengesellschaft reduced their price objective on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Wells Fargo & Company cut their price objective on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Barrington Research restated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, November 7th. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Finally, Benchmark reissued a “buy” rating and issued a $215.00 price target on shares of Nexstar Media Group in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $198.50.

Insiders Place Their Bets

In other Nexstar Media Group news, CEO Perry A. Sook sold 12,239 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $190.28, for a total transaction of $2,328,836.92. Following the completion of the sale, the chief executive officer now directly owns 674,694 shares in the company, valued at approximately $128,380,774.32. This trade represents a 1.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles Thomas Mcmillen sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $160.00, for a total value of $160,000.00. Following the sale, the director now directly owns 7,975 shares of the company’s stock, valued at $1,276,000. This represents a 11.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,903 shares of company stock valued at $7,833,240 in the last 90 days. Corporate insiders own 6.30% of the company’s stock.

Nexstar Media Group Stock Up 2.0 %

Shares of NASDAQ NXST opened at $166.83 on Thursday. The stock has a market capitalization of $5.18 billion, a P/E ratio of 9.65, a PEG ratio of 0.20 and a beta of 1.48. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. Nexstar Media Group, Inc. has a 52 week low of $141.38 and a 52 week high of $191.86. The stock’s fifty day moving average is $168.76 and its 200 day moving average is $167.14.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing the consensus estimate of $5.51 by ($0.24). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the prior year, the company earned $0.70 earnings per share. Nexstar Media Group’s quarterly revenue was up 20.7% compared to the same quarter last year. Sell-side analysts forecast that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $1.69 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $6.76 annualized dividend and a dividend yield of 4.05%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 39.10%.

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.