Copeland Capital Management LLC Sells 163,579 Shares of Nexstar Media Group, Inc. $NXST

Copeland Capital Management LLC lessened its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 43.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 213,042 shares of the company’s stock after selling 163,579 shares during the period. Copeland Capital Management LLC owned 0.70% of Nexstar Media Group worth $38,524,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of NXST. Torren Management LLC bought a new stake in shares of Nexstar Media Group in the fourth quarter worth about $28,000. Measured Wealth Private Client Group LLC purchased a new position in Nexstar Media Group during the 3rd quarter valued at about $28,000. WPG Advisers LLC raised its position in Nexstar Media Group by 65.7% during the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after purchasing an additional 71 shares during the last quarter. State of Wyoming bought a new position in Nexstar Media Group during the 2nd quarter valued at approximately $54,000. Finally, Danske Bank A S purchased a new stake in Nexstar Media Group in the 3rd quarter worth approximately $59,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, CEO Perry A. Sook acquired 12,235 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The shares were acquired at an average price of $162.26 per share, with a total value of $1,985,251.10. Following the completion of the purchase, the chief executive officer directly owned 899,044 shares of the company’s stock, valued at approximately $145,878,879.44. The trade was a 1.38% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Michael Biard sold 1,227 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $174.21, for a total transaction of $213,755.67. Following the completion of the sale, the chief operating officer owned 17,105 shares in the company, valued at approximately $2,979,862.05. This trade represents a 6.69% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 22,813 shares of company stock worth $4,174,731 over the last 90 days. 7.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

NXST has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft cut their price objective on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Wall Street Zen lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Citigroup raised Nexstar Media Group from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $252.00 to $220.00 in a research note on Friday, April 10th. Zacks Research cut shares of Nexstar Media Group from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Finally, Barrington Research reissued an “outperform” rating and set a $290.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $259.67.

Nexstar Media Group Price Performance

NXST opened at $183.71 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53. The company has a market cap of $5.61 billion, a price-to-earnings ratio of 39.42, a price-to-earnings-growth ratio of 0.47 and a beta of 0.91. The stock has a fifty day simple moving average of $179.97 and a two-hundred day simple moving average of $202.90. Nexstar Media Group, Inc. has a 12-month low of $154.47 and a 12-month high of $254.30.

Nexstar Media Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Friday, May 15th. Nexstar Media Group’s dividend payout ratio (DPR) is 159.66%.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.