Geode Capital Management LLC Sells 2,546 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Geode Capital Management LLC lowered its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 0.3% during the third quarter, Holdings Channel reports. The firm owned 740,731 shares of the company’s stock after selling 2,546 shares during the period. Geode Capital Management LLC’s holdings in Nexstar Media Group were worth $122,666,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Brooklyn Investment Group acquired a new stake in shares of Nexstar Media Group in the third quarter worth about $25,000. Whittier Trust Co. acquired a new position in shares of Nexstar Media Group during the 2nd quarter valued at about $27,000. True Wealth Design LLC bought a new position in shares of Nexstar Media Group in the 3rd quarter valued at approximately $30,000. Allspring Global Investments Holdings LLC raised its stake in shares of Nexstar Media Group by 3,700.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after acquiring an additional 259 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in Nexstar Media Group in the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Stock Performance

NASDAQ:NXST opened at $161.46 on Wednesday. The firm’s 50-day moving average is $170.10 and its 200-day moving average is $167.47. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 9.34, a PEG ratio of 0.20 and a beta of 1.45. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. Nexstar Media Group, Inc. has a 52-week low of $147.25 and a 52-week high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) 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 firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the prior year, the firm earned $0.70 earnings per share. The company’s revenue 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 year.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a $1.69 dividend. The ex-dividend date was Friday, November 15th. This represents a $6.76 annualized dividend and a yield of 4.19%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 39.10%.

Insiders Place Their Bets

In other news, CEO Perry A. Sook sold 12,239 shares of Nexstar Media Group stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $190.28, for a total transaction of $2,328,836.92. Following the sale, the chief executive officer now directly owns 674,694 shares in the company, valued at approximately $128,380,774.32. The trade was a 1.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew Alford sold 3,175 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $167.82, for a total transaction of $532,828.50. Following the completion of the sale, the insider now directly owns 9,173 shares in the company, valued at approximately $1,539,412.86. The trade was a 25.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,798 shares of company stock worth $5,949,704 over the last 90 days. Corporate insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NXST shares. StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Barrington Research reiterated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, November 7th. Benchmark reissued a “buy” rating and set a $215.00 target price on shares of Nexstar Media Group in a research report on Friday, November 8th. Loop Capital cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating and decreased their price target for the company from $200.00 to $190.00 in a report on Friday, November 8th. Finally, Guggenheim dropped their price objective 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. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.