Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 5.2% during the 4th quarter, Holdings Channel reports. The fund owned 125,298 shares of the company’s stock after selling 6,931 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Nexstar Media Group were worth $19,793,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in Nexstar Media Group in the 3rd quarter valued at about $44,000. CWA Asset Management Group LLC purchased a new stake in shares of Nexstar Media Group during the 3rd quarter valued at approximately $312,000. Crossmark Global Holdings Inc. lifted its holdings in Nexstar Media Group by 24.7% in the third quarter. Crossmark Global Holdings Inc. now owns 2,391 shares of the company’s stock valued at $396,000 after acquiring an additional 474 shares during the last quarter. Meritage Portfolio Management grew its position in Nexstar Media Group by 9.7% in the third quarter. Meritage Portfolio Management now owns 4,603 shares of the company’s stock worth $761,000 after acquiring an additional 406 shares during the period. Finally, Venturi Wealth Management LLC grew its position in Nexstar Media Group by 2,074.2% in the third quarter. Venturi Wealth Management LLC now owns 674 shares of the company’s stock worth $111,000 after acquiring an additional 643 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Perry A. Sook sold 52,808 shares of the business’s stock in a transaction 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 owns 674,694 shares in the company, valued at approximately $106,203,582.54. The trade was a 7.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bernadette S. Aulestia sold 500 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $164.45, for a total value of $82,225.00. Following the completion of the sale, the director now owns 2,000 shares in the company, valued at approximately $328,900. This represents a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 161,955 shares of company stock worth $26,240,628 in the last quarter. 6.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on NXST. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Loop Capital raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating and upped their target price for the company from $190.00 to $200.00 in a research report on Friday, February 28th. Guggenheim lifted their price target on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Monday. Finally, StockNews.com cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Nexstar Media Group has an average rating of “Moderate Buy” and a consensus target price of $208.43.

Nexstar Media Group Trading Down 0.5 %

NASDAQ NXST opened at $176.94 on Tuesday. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The firm has a market cap of $5.40 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 0.45 and a beta of 1.47. The firm has a 50 day simple moving average of $156.61 and a 200-day simple moving average of $163.71. Nexstar Media Group, Inc. has a one year low of $146.04 and a one year high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Thursday, February 27th. The company reported $7.56 EPS for the quarter, missing the consensus estimate of $9.22 by ($1.66). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Equities research analysts anticipate that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a dividend of $1.86 per share. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.44 annualized dividend and a yield of 4.20%. Nexstar Media Group’s dividend payout ratio is 34.56%.

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.