Pitcairn Co. Sells 152 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Pitcairn Co. decreased its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 5.1% in the 1st quarter, Holdings Channel.com reports. The fund owned 2,816 shares of the company’s stock after selling 152 shares during the quarter. Pitcairn Co.’s holdings in Nexstar Media Group were worth $485,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. SummerHaven Investment Management LLC boosted its position in Nexstar Media Group by 1.8% during the fourth quarter. SummerHaven Investment Management LLC now owns 4,066 shares of the company’s stock valued at $637,000 after purchasing an additional 70 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Nexstar Media Group by 20.3% in the 4th quarter. Signaturefd LLC now owns 420 shares of the company’s stock valued at $66,000 after buying an additional 71 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Nexstar Media Group by 7.8% in the 4th quarter. Fifth Third Bancorp now owns 1,122 shares of the company’s stock valued at $176,000 after buying an additional 81 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Nexstar Media Group by 41.1% in the fourth quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock valued at $46,000 after buying an additional 86 shares in the last quarter. Finally, Retirement Systems of Alabama increased its holdings in Nexstar Media Group by 0.3% during the first quarter. Retirement Systems of Alabama now owns 40,479 shares of the company’s stock worth $6,974,000 after buying an additional 107 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Insider Transactions at Nexstar Media Group

In related news, CFO Lee Ann Gliha sold 747 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $149.08, for a total transaction of $111,362.76. Following the sale, the chief financial officer now owns 6,591 shares of the company’s stock, valued at $982,586.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Nexstar Media Group news, CFO Lee Ann Gliha sold 747 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $149.08, for a total transaction of $111,362.76. Following the sale, the chief financial officer now directly owns 6,591 shares in the company, valued at $982,586.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Charles Thomas Mcmillen sold 1,475 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $166.08, for a total value of $244,968.00. Following the sale, the director now owns 6,175 shares of the company’s stock, valued at $1,025,544. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,826 shares of company stock valued at $1,080,597. 5.90% of the stock is currently owned by corporate insiders.

Nexstar Media Group Trading Up 1.3 %

Shares of NXST stock opened at $177.22 on Friday. Nexstar Media Group, Inc. has a 12-month low of $132.30 and a 12-month high of $187.32. The company has a market capitalization of $5.84 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 0.63 and a beta of 1.50. The firm has a 50 day moving average price of $163.70 and a two-hundred day moving average price of $166.39. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 2.85.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, May 9th. The company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.28 by $0.88. Nexstar Media Group had a return on equity of 17.18% and a net margin of 8.29%. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period last year, the firm posted $2.97 EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, analysts predict that Nexstar Media Group, Inc. will post 27.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wells Fargo & Company upgraded shares of Nexstar Media Group from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $190.00 to $221.00 in a research note on Monday, May 13th. Benchmark reiterated a “buy” rating and issued a $225.00 target price on shares of Nexstar Media Group in a research note on Thursday, June 20th. Loop Capital raised Nexstar Media Group to a “strong-buy” rating in a research report on Friday, May 10th. Finally, Barrington Research reiterated an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $203.67.

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.