Nexstar Media Group, Inc. (NASDAQ:NXST) Stock Position Lessened by Delta Investment Management LLC

Delta Investment Management LLC cut its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,864 shares of the company’s stock after selling 70 shares during the period. Delta Investment Management LLC’s holdings in Nexstar Media Group were worth $449,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. OLD Second National Bank of Aurora bought a new position in Nexstar Media Group during the fourth quarter valued at about $45,000. Itau Unibanco Holding S.A. bought a new position in shares of Nexstar Media Group during the 3rd quarter valued at about $65,000. Signaturefd LLC boosted its position in shares of Nexstar Media Group by 20.3% during the 4th quarter. Signaturefd LLC now owns 420 shares of the company’s stock valued at $66,000 after purchasing an additional 71 shares in the last quarter. Arlington Trust Co LLC acquired a new position in shares of Nexstar Media Group in the 4th quarter worth approximately $81,000. Finally, Huntington National Bank raised its holdings in shares of Nexstar Media Group by 95.2% in the 3rd quarter. Huntington National Bank now owns 652 shares of the company’s stock worth $93,000 after purchasing an additional 318 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Nexstar Media Group Trading Down 1.3 %

Nexstar Media Group stock opened at $158.92 on Friday. The company has a 50 day moving average price of $164.98 and a 200 day moving average price of $159.11. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of 16.50, a P/E/G ratio of 0.59 and a beta of 1.50. Nexstar Media Group, Inc. has a 52 week low of $132.30 and a 52 week high of $187.32. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.53 and a current ratio of 1.53.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Wednesday, February 28th. The company reported $3.32 earnings per share for the quarter, missing the consensus estimate of $4.42 by ($1.10). Nexstar Media Group had a net margin of 7.03% and a return on equity of 14.06%. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the firm earned $8.04 EPS. The company’s revenue was down 12.3% compared to the same quarter last year. Research analysts forecast that Nexstar Media Group, Inc. will post 26.73 EPS for the current year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a $1.69 dividend. This represents a $6.76 annualized dividend and a yield of 4.25%. The ex-dividend date of this dividend is Thursday, May 9th. Nexstar Media Group’s payout ratio is currently 70.20%.

Insider Buying and Selling

In other news, insider Sean Compton sold 3,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $162.61, for a total transaction of $487,830.00. Following the transaction, the insider now owns 9,489 shares in the company, valued at approximately $1,543,006.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Dennis J. Fitzsimons sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $170.82, for a total value of $341,640.00. Following the completion of the sale, the director now directly owns 12,027 shares in the company, valued at approximately $2,054,452.14. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Sean Compton sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $162.61, for a total value of $487,830.00. Following the sale, the insider now directly owns 9,489 shares of the company’s stock, valued at approximately $1,543,006.29. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,508 shares of company stock worth $7,487,950. Insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NXST. Rosenblatt Securities reduced their target price on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Barrington Research reissued an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, March 7th. Finally, TheStreet raised Nexstar Media Group from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Nexstar Media Group has a consensus rating of “Moderate Buy” and an average target price of $193.83.

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.