Goldman Sachs Group Inc. lowered its stake in shares of Nexstar Media Group, Inc. (NASDAQ: NXST – Get Rating) by 30.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 656,176 shares of the company stock after selling 285,991 shares during the quarter. Goldman Sachs Group Inc. owned about 1.60% of Nexstar Media Group worth $ 99,069,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Oliver Luxxe Assets LLC grew its holdings in shares of Nexstar Media Group by 0.7% during the fourth quarter. Oliver Luxxe Assets LLC now owns 15,627 shares of the company stock worth $ 2,359,000 after buying an additional 112 shares during the last quarter. Parametric Portfolio Associates LLC boosted its holdings in Nexstar Media Group by 6.9% in the 4th quarter. Parametric Portfolio Associates LLC now owns 247,035 shares of the company stock valued at $ 37,297,000 after purchasing an additional 15,992 shares in the last quarter. State of Tennessee Treasury Department boosted its holdings in Nexstar Media Group by 235.4% in the 4th quarter. State of Tennessee Treasury Department now owns 3,689 shares of the company stock valued at $ 557,000 after purchasing an additional 2,589 shares in the last quarter. Castleark Management LLC purchased a new stake in Nexstar Media Group in the 4th quarter valued at approximately $ 6,051,000. Finally, Thrivent Financial for Lutherans boosted its holdings in Nexstar Media Group by 67.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 39,903 shares of the company stock valued at $ 6,024,000 after purchasing an additional 16,109 shares in the last quarter. 96.00% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Nexstar Media Group stock opened at $ 166.79 on Thursday. The company has a fifty day moving average price of $ 169.02 and a 200 day moving average price of $ 168.55. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 2.47. Nexstar Media Group, Inc. has a twelve month low of $ 135.87 and a twelve month high of $ 192.84. The stock has a market cap of $ 6.74 billion, a price-to-earnings ratio of 8.10, a price-to-earnings-growth ratio of 0.65 and a beta of 1.53.
Nexstar Media Group (NASDAQ: NXST – Get Rating) last announced its quarterly earnings results on Tuesday, May 10th. The company reported $ 5.99 earnings per share for the quarter, topping analysts’ consensus estimates of $ 4.33 by $ 1.66. The firm had revenue of $ 1.21 billion during the quarter, compared to analysts’ expectations of $ 1.19 billion. Nexstar Media Group had a net margin of 18.66% and a return on equity of 32.08%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company earned $ 4.42 EPS. Analysts forecast that Nexstar Media Group, Inc. will post 25.9 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 27th. Stockholders of record on Friday, May 13th were paid a $ 0.90 dividend. The ex-dividend date of this dividend was Thursday, May 12th. This represents a $ 3.60 dividend on an annualized basis and a dividend yield of 2.16%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 17.48%.
Several brokerages have recently commented on NXST. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Thursday, May 12th. Benchmark boosted their price target on Nexstar Media Group from $ 200.00 to $ 225.00 and gave the stock a “buy” rating in a research note on Wednesday, February 23rd. Wells Fargo & Company boosted their price target on Nexstar Media Group from $ 186.00 to $ 208.00 in a research note on Wednesday, February 23rd. Deutsche Bank Aktiengesellschaft boosted their price target on Nexstar Media Group from $ 216.00 to $ 225.00 in a research note on Thursday, May 12th. Finally, Barrington Research boosted their price target on Nexstar Media Group from $ 200.00 to $ 215.00 in a research note on Wednesday, February 23rd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $ 210.57.
In related news, COO Thomas Carter sold 6,250 shares of the stock in a transaction dated Tuesday, March 22nd. The shares were sold at an average price of $ 188.13, for a total transaction of $ 1,175,812.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lisbeth Mcnabb sold 1,200 shares of the stock in a transaction dated Wednesday, March 23rd. The stock was sold at an average price of $ 189.95, for a total transaction of $ 227,940.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,827 shares of company stock worth $ 5,271,544. Company insiders own 6.90% of the company stock.
Nexstar Media Group Company Profile: (Get Rating)
Nexstar Media Group, Inc, a television broadcasting and digital media company, focuses on the acquisition, development, and operation of television stations and interactive community websites and digital media services in the United States. The company offers free programming to television viewing audiences.
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