Arcadia Investment Management Corp MI Decreases Stock Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Arcadia Investment Management Corp MI decreased its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 21.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 9,752 shares of the company’s stock after selling 2,609 shares during the period. Arcadia Investment Management Corp MI’s holdings in Nexstar Media Group were worth $1,541,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of NXST. Creative Planning raised its position in Nexstar Media Group by 43.8% in the 3rd quarter. Creative Planning now owns 6,925 shares of the company’s stock worth $1,145,000 after buying an additional 2,108 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Nexstar Media Group by 7.3% during the 3rd quarter. Blue Trust Inc. now owns 1,088 shares of the company’s stock valued at $181,000 after purchasing an additional 74 shares during the period. Foundations Investment Advisors LLC bought a new stake in shares of Nexstar Media Group during the 3rd quarter valued at about $213,000. Sequoia Financial Advisors LLC grew its stake in shares of Nexstar Media Group by 26.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,834 shares of the company’s stock valued at $634,000 after purchasing an additional 803 shares during the period. Finally, Hennion & Walsh Asset Management Inc. grew its stake in shares of Nexstar Media Group by 47.6% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 2,381 shares of the company’s stock valued at $394,000 after purchasing an additional 768 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NXST. StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Loop Capital downgraded Nexstar Media Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $200.00 to $190.00 in a research note on Friday, November 8th. Barrington Research reiterated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, November 7th. Benchmark reiterated a “buy” rating and set a $215.00 price objective on shares of Nexstar Media Group in a research note on Friday, November 8th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Nexstar Media Group in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $204.29.

Nexstar Media Group Stock Up 0.2 %

NASDAQ NXST opened at $154.58 on Friday. 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 company has a market capitalization of $4.80 billion, a P/E ratio of 8.94, a P/E/G ratio of 0.45 and a beta of 1.45. Nexstar Media Group, Inc. has a one year low of $147.25 and a one year high of $191.86. The stock has a 50 day moving average price of $156.02 and a 200-day moving average price of $163.82.

Nexstar Media Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be given a $1.86 dividend. The ex-dividend date is Wednesday, February 12th. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. This represents a $7.44 dividend on an annualized basis and a yield of 4.81%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 43.03%.

Insider Buying and Selling

In related news, Director Bernadette S. Aulestia sold 500 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was 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 directly owns 2,000 shares in the company, valued at $328,900. This trade represents a 20.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles Thomas Mcmillen sold 750 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $159.93, for a total value of $119,947.50. Following the completion of the sale, the director now owns 6,975 shares in the company, valued at approximately $1,115,511.75. The trade was a 9.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 131,824 shares of company stock worth $21,093,408 over the last three months. 6.30% of the stock is owned by insiders.

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.