Groesbeck Investment Management Corp NJ Sells 1,200 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Groesbeck Investment Management Corp NJ lowered its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 14.7% in the 4th quarter, HoldingsChannel reports. The firm owned 6,947 shares of the company’s stock after selling 1,200 shares during the quarter. Nexstar Media Group comprises approximately 1.4% of Groesbeck Investment Management Corp NJ’s holdings, making the stock its 22nd largest holding. Groesbeck Investment Management Corp NJ’s holdings in Nexstar Media Group were worth $1,097,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the business. Pacer Advisors Inc. boosted its holdings in shares of Nexstar Media Group by 27,180.2% in the 4th quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company’s stock valued at $190,650,000 after buying an additional 1,202,453 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Nexstar Media Group by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company’s stock valued at $179,149,000 after buying an additional 7,117 shares in the last quarter. Copeland Capital Management LLC boosted its holdings in shares of Nexstar Media Group by 18.1% in the 3rd quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock valued at $90,567,000 after buying an additional 83,829 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Nexstar Media Group by 6.1% in the 3rd quarter. New York State Common Retirement Fund now owns 189,673 shares of the company’s stock valued at $31,362,000 after buying an additional 10,938 shares in the last quarter. Finally, Capital Management Corp VA boosted its holdings in shares of Nexstar Media Group by 2.7% in the 3rd quarter. Capital Management Corp VA now owns 162,295 shares of the company’s stock valued at $26,835,000 after buying an additional 4,258 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

NXST has been the topic of a number of recent analyst reports. Guggenheim restated a “buy” rating on shares of Nexstar Media Group in a report on Wednesday, January 22nd. Benchmark reiterated a “buy” rating and issued a $215.00 target price on shares of Nexstar Media Group in a research note on Friday, November 8th. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Loop Capital cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating and lowered their target price for the stock from $200.00 to $190.00 in a research note on Friday, November 8th. Finally, Barrington Research reiterated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $204.29.

Nexstar Media Group Stock Performance

Shares of NASDAQ NXST opened at $153.89 on Wednesday. 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 12 month low of $147.25 and a 12 month high of $191.86. The company has a 50 day simple moving average of $160.10 and a two-hundred day simple moving average of $165.89. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 8.90, a PEG ratio of 0.25 and a beta of 1.45.

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

Nexstar Media Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 4.83%. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date of this dividend is Wednesday, February 12th. Nexstar Media Group’s payout ratio is presently 39.10%.

Insider Buying and Selling at Nexstar Media Group

In other news, CEO Perry A. Sook sold 52,808 shares of Nexstar Media Group stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $157.41, for a total transaction of $8,312,507.28. Following the completion of the transaction, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at $106,203,582.54. The trade was a 7.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Lee Ann Gliha sold 330 shares of Nexstar Media Group stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $158.23, for a total transaction of $52,215.90. Following the transaction, the chief financial officer now directly owns 8,610 shares of the company’s stock, valued at approximately $1,362,360.30. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 146,448 shares of company stock worth $23,828,076. Company insiders own 6.30% of the company’s stock.

About Nexstar Media Group

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.