Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. reduced its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 54.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,551 shares of the company’s stock after selling 1,880 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Nexstar Media Group were worth $256,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NXST. Vanguard Group Inc. increased its position in Nexstar Media Group by 3.9% during the first quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock worth $580,689,000 after purchasing an additional 127,783 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Nexstar Media Group by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock worth $220,189,000 after purchasing an additional 62,331 shares in the last quarter. Copeland Capital Management LLC lifted its position in shares of Nexstar Media Group by 18.1% during the 3rd quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock worth $90,567,000 after buying an additional 83,829 shares during the last quarter. Capital Research Global Investors acquired a new position in shares of Nexstar Media Group in the 1st quarter valued at $92,323,000. Finally, Bank of New York Mellon Corp grew its position in shares of Nexstar Media Group by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 418,815 shares of the company’s stock valued at $69,528,000 after buying an additional 2,145 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NXST shares. Wells Fargo & Company lowered their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Loop Capital cut Nexstar Media Group from a “buy” rating to a “hold” rating and cut their price target for the stock from $200.00 to $190.00 in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Guggenheim dropped their price target on shares of 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. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $198.50.

Insiders Place Their Bets

In related news, CEO Perry A. Sook sold 12,239 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 674,694 shares of the company’s stock, valued at approximately $128,380,774.32. This represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles Thomas Mcmillen sold 1,000 shares of Nexstar Media Group stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $160.00, for a total transaction of $160,000.00. Following the completion of the transaction, the director now owns 7,975 shares in the company, valued at approximately $1,276,000. This trade represents a 11.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 48,437 shares of company stock valued at $8,429,561. Company insiders own 6.30% of the company’s stock.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST opened at $162.18 on Tuesday. Nexstar Media Group, Inc. has a 52 week low of $141.38 and a 52 week high of $191.86. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 0.19 and a beta of 1.48. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. The company’s 50-day moving average price is $168.61 and its 200 day moving average price is $167.16.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results 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). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the firm earned $0.70 earnings per share. The business’s revenue was up 20.7% compared to the same quarter last year. As a group, research analysts forecast that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $1.69 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $6.76 annualized dividend and a yield of 4.17%. Nexstar Media Group’s payout ratio is currently 39.10%.

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.