Private Management Group Inc. Has $366,000 Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Private Management Group Inc. cut its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 60.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,318 shares of the company’s stock after selling 3,561 shares during the period. Private Management Group Inc.’s holdings in Nexstar Media Group were worth $366,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of NXST. Pacer Advisors Inc. lifted its position in Nexstar Media Group by 27,180.2% during the fourth quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company’s stock worth $190,650,000 after acquiring an additional 1,202,453 shares during the last quarter. Copeland Capital Management LLC lifted its position in Nexstar Media Group by 18.1% during the third quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock worth $90,567,000 after acquiring an additional 83,829 shares during the last quarter. Payden & Rygel lifted its position in Nexstar Media Group by 40.4% during the third quarter. Payden & Rygel now owns 110,200 shares of the company’s stock worth $18,222,000 after acquiring an additional 31,700 shares during the last quarter. World Investment Advisors LLC acquired a new stake in Nexstar Media Group during the third quarter worth approximately $3,747,000. Finally, SGL Investment Advisors Inc. acquired a new stake in Nexstar Media Group during the third quarter worth approximately $3,758,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NXST has been the subject of several research reports. Benchmark restated a “buy” rating and set a $215.00 price objective on shares of Nexstar Media Group in a research report on Friday, November 8th. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Guggenheim reiterated a “buy” rating on shares of Nexstar Media Group in a research report on Wednesday, January 22nd. Loop Capital downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating and dropped their price target for the company from $200.00 to $190.00 in a research report on Friday, November 8th. Finally, Barrington Research reiterated an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $204.29.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, CEO Perry A. Sook sold 35,205 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $162.13, for a total transaction of $5,707,786.65. Following the sale, the chief executive officer now owns 674,694 shares of the company’s stock, valued at approximately $109,388,138.22. The trade was a 4.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Lee Ann Gliha sold 330 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $158.23, for a total transaction of $52,215.90. Following the sale, the chief financial officer now directly owns 8,610 shares in the company, valued at approximately $1,362,360.30. The trade was a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,209 shares of company stock worth $21,499,239 over the last three months. Corporate insiders own 6.30% of the company’s stock.

Nexstar Media Group Stock Down 1.4 %

Shares of NXST opened at $151.65 on Friday. Nexstar Media Group, Inc. has a one year low of $147.25 and a one year high of $191.86. The company has a market cap of $4.70 billion, a P/E ratio of 8.77, a P/E/G ratio of 0.25 and a beta of 1.45. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. The firm has a 50 day simple moving average of $159.36 and a two-hundred day simple moving average of $165.71.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, November 7th. The company reported $5.27 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 analyst estimates of $1.37 billion. During the same quarter in the prior year, the firm earned $0.70 earnings per share. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. Research analysts forecast that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be given a dividend of $1.86 per share. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. This represents a $7.44 annualized dividend and a yield of 4.91%. The ex-dividend date of this dividend is Wednesday, February 12th. Nexstar Media Group’s payout ratio is currently 43.03%.

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.