Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Burney Co.

Burney Co. trimmed its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 6.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,509 shares of the company’s stock after selling 513 shares during the quarter. Burney Co.’s holdings in Nexstar Media Group were worth $1,186,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NXST. Brooklyn Investment Group acquired a new position in Nexstar Media Group in the third quarter valued at approximately $25,000. True Wealth Design LLC acquired a new position in shares of Nexstar Media Group in the 3rd quarter valued at $30,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Nexstar Media Group during the 3rd quarter worth $33,000. Capital Performance Advisors LLP acquired a new stake in shares of Nexstar Media Group during the 3rd quarter worth about $44,000. Finally, UMB Bank n.a. raised its holdings in Nexstar Media Group by 117.8% in the 3rd quarter. UMB Bank n.a. now owns 294 shares of the company’s stock valued at $49,000 after buying an additional 159 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insiders Place Their Bets

In other Nexstar Media Group news, CEO Perry A. Sook sold 37,025 shares of Nexstar Media Group stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $160.14, for a total transaction of $5,929,183.50. Following the completion of the sale, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at $108,045,497.16. The trade was a 5.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Lee Ann Gliha sold 330 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $158.23, for a total value of $52,215.90. Following the completion of the transaction, the chief financial officer now owns 8,610 shares in the company, valued at approximately $1,362,360.30. The trade was a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 146,448 shares of company stock worth $23,828,076 in the last 90 days. Corporate insiders own 6.30% of the company’s stock.

Nexstar Media Group Stock Down 1.6 %

Nexstar Media Group stock opened at $151.68 on Friday. The firm has a market capitalization of $4.71 billion, a P/E ratio of 8.77, a P/E/G ratio of 0.20 and a beta of 1.45. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a twelve month low of $147.25 and a twelve month high of $191.86. The stock’s fifty day simple moving average is $163.22 and its 200-day simple moving average is $167.47.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results 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). The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. Nexstar Media Group’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 EPS. As a group, equities analysts expect that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $1.69 dividend. The ex-dividend date was Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a yield of 4.46%. Nexstar Media Group’s dividend payout ratio is currently 39.10%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NXST. Guggenheim lowered their target price on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Barrington Research reiterated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, November 7th. Loop Capital cut Nexstar Media Group from a “buy” rating to a “hold” rating and decreased their price target for the stock from $200.00 to $190.00 in a research note on Friday, November 8th. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Benchmark reissued a “buy” rating and set a $215.00 target price on shares of Nexstar Media Group in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $204.29.

Nexstar Media Group Company 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.