Pitcairn Co. Sells 381 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Pitcairn Co. trimmed its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 14.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,250 shares of the company’s stock after selling 381 shares during the quarter. Pitcairn Co.’s holdings in Nexstar Media Group were worth $372,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of NXST. Whittier Trust Co. bought a new position in shares of Nexstar Media Group during the second quarter worth approximately $27,000. Allspring Global Investments Holdings LLC increased its stake in Nexstar Media Group by 3,700.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock worth $44,000 after acquiring an additional 259 shares during the period. Capital Performance Advisors LLP bought a new position in Nexstar Media Group during the 3rd quarter worth $44,000. GAMMA Investing LLC raised its holdings in Nexstar Media Group by 112.2% in the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock valued at $49,000 after acquiring an additional 156 shares in the last quarter. Finally, Mascoma Wealth Management LLC bought a new stake in shares of Nexstar Media Group during the 2nd quarter valued at $49,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Price Performance

Shares of NASDAQ:NXST opened at $170.29 on Wednesday. The firm has a 50 day simple moving average of $169.07 and a 200 day simple moving average of $167.11. The company has a market cap of $5.28 billion, a price-to-earnings ratio of 9.85, a PEG ratio of 0.20 and a beta of 1.48. Nexstar Media Group, Inc. has a one year low of $141.38 and a one year high of $191.86. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, November 7th. The company reported $5.27 EPS 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 the consensus estimate 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 was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.70 earnings per share. Research analysts predict that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date is Friday, November 15th. Nexstar Media Group’s payout ratio is 39.10%.

Insider Transactions at Nexstar Media Group

In other news, CEO Perry A. Sook sold 12,239 shares of Nexstar Media Group stock in a transaction 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 transaction, the chief executive officer now owns 674,694 shares in the company, valued at approximately $128,380,774.32. The trade was a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles Thomas Mcmillen sold 250 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $164.44, for a total value of $41,110.00. Following the completion of the sale, the director now owns 7,725 shares of the company’s stock, valued at $1,270,299. The trade was a 3.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,423 shares of company stock worth $7,916,739. Insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wells Fargo & Company decreased their price target on 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. Guggenheim dropped their target price on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Benchmark reaffirmed a “buy” rating and set a $215.00 price target on shares of Nexstar Media Group in a report on Friday, November 8th. StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on 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. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.50.

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.