Signet Financial Management LLC Lowers Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Signet Financial Management LLC decreased its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 18.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,137 shares of the company’s stock after selling 468 shares during the period. Signet Financial Management LLC’s holdings in Nexstar Media Group were worth $338,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. City Center Advisors LLC bought a new position in shares of Nexstar Media Group during the fourth quarter valued at approximately $223,000. Harbor Capital Advisors Inc. boosted its position in Nexstar Media Group by 1.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 10,127 shares of the company’s stock valued at $1,600,000 after acquiring an additional 140 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Nexstar Media Group by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company’s stock valued at $1,073,000 after acquiring an additional 68 shares during the period. Tidal Investments LLC raised its position in shares of Nexstar Media Group by 57.8% in the 3rd quarter. Tidal Investments LLC now owns 3,217 shares of the company’s stock worth $532,000 after acquiring an additional 1,178 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Nexstar Media Group during the 3rd quarter worth $33,000. Institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Price Performance

Shares of NXST opened at $151.23 on Tuesday. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. The company’s fifty day moving average price is $165.40 and its 200-day moving average price is $167.83. 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 $4.69 billion, a PE ratio of 8.75, a price-to-earnings-growth ratio of 0.20 and a beta of 1.45.

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 analysts’ consensus estimates of $5.51 by ($0.24). The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.70 earnings per share. On average, equities research analysts predict that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a dividend of $1.69 per share. The ex-dividend date was Friday, November 15th. This represents a $6.76 annualized dividend and a dividend yield of 4.47%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 39.10%.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, CEO Perry A. Sook sold 12,239 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $190.28, for a total value of $2,328,836.92. Following the sale, the chief executive officer now owns 674,694 shares in the company, valued at approximately $128,380,774.32. This represents a 1.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Charles Thomas Mcmillen sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $159.93, for a total transaction of $119,947.50. Following the sale, the director now directly owns 6,975 shares in the company, valued at $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 146,448 shares of company stock worth $23,828,076 over the last three months. Company insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

NXST has been the topic of several analyst reports. Guggenheim cut their target price on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. 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 restated a “buy” rating and issued a $215.00 target price on shares of Nexstar Media Group in a research note on Friday, November 8th. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Loop Capital cut Nexstar Media Group from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $200.00 to $190.00 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.com, Nexstar Media Group has an average rating of “Moderate Buy” and an average price target of $204.29.

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.