Private Management Group Inc. Sells 3,561 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Private Management Group Inc. decreased its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 60.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,318 shares of the company’s stock after selling 3,561 shares during the quarter. Private Management Group Inc.’s holdings in Nexstar Media Group were worth $366,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of NXST. Marshall Wace LLP bought a new stake in shares of Nexstar Media Group in the second quarter worth $249,000. Millennium Management LLC grew its stake in shares of Nexstar Media Group by 1,857.8% in the second quarter. Millennium Management LLC now owns 23,827 shares of the company’s stock worth $3,956,000 after purchasing an additional 22,610 shares during the last quarter. Creative Planning grew its stake in shares of Nexstar Media Group by 25.6% in the second quarter. Creative Planning now owns 4,817 shares of the company’s stock worth $800,000 after purchasing an additional 982 shares during the last quarter. Truist Financial Corp grew its stake in shares of Nexstar Media Group by 5.2% in the second quarter. Truist Financial Corp now owns 9,733 shares of the company’s stock worth $1,616,000 after purchasing an additional 482 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its position in Nexstar Media Group by 28.1% during the third quarter. Handelsbanken Fonder AB now owns 9,130 shares of the company’s stock valued at $1,510,000 after acquiring an additional 2,000 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Insider Buying and Selling

In related news, Director Charles Thomas Mcmillen sold 750 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $159.93, for a total value of $119,947.50. Following the sale, the director now owns 6,975 shares in the company, valued at $1,115,511.75. This represents a 9.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Perry A. Sook sold 52,808 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $157.41, for a total transaction of $8,312,507.28. Following the completion of the sale, the chief executive officer now owns 674,694 shares in the company, valued at $106,203,582.54. This represents a 7.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,209 shares of company stock worth $21,499,239 in the last quarter. Insiders own 6.30% of the company’s stock.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST opened at $151.65 on Friday. The firm’s 50-day moving average price is $159.36 and its 200-day moving average price is $165.71. Nexstar Media Group, Inc. has a 1-year low of $147.25 and a 1-year high of $191.86. The firm has a market capitalization of $4.70 billion, a P/E ratio of 8.77, a P/E/G ratio of 0.25 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 (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 net margin of 11.39% and a return on equity of 26.03%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the company posted $0.70 EPS. Nexstar Media Group’s revenue for the quarter was up 20.7% on a year-over-year basis. Equities research analysts anticipate that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current fiscal year.

Nexstar Media Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date of this dividend is Wednesday, February 12th. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s dividend payout ratio is currently 43.03%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Loop Capital cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating and cut their price target for the company from $200.00 to $190.00 in a research report on Friday, November 8th. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, November 7th. Guggenheim reaffirmed a “buy” rating on shares of Nexstar Media Group in a research report on Wednesday, January 22nd. StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Benchmark reaffirmed a “buy” rating and set a $215.00 price target on shares of Nexstar Media Group in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.