Arcadia Investment Management Corp MI Sells 2,609 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Arcadia Investment Management Corp MI decreased its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 21.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 9,752 shares of the company’s stock after selling 2,609 shares during the period. Arcadia Investment Management Corp MI’s holdings in Nexstar Media Group were worth $1,541,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Parcion Private Wealth LLC grew its holdings in shares of Nexstar Media Group by 3.7% in the fourth quarter. Parcion Private Wealth LLC now owns 32,261 shares of the company’s stock worth $5,096,000 after purchasing an additional 1,146 shares during the last quarter. Concurrent Investment Advisors LLC bought a new position in shares of Nexstar Media Group in the fourth quarter worth approximately $209,000. Ieq Capital LLC grew its holdings in shares of Nexstar Media Group by 63.5% in the fourth quarter. Ieq Capital LLC now owns 2,887 shares of the company’s stock worth $456,000 after purchasing an additional 1,121 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Nexstar Media Group by 31.0% in the fourth quarter. Venturi Wealth Management LLC now owns 883 shares of the company’s stock worth $139,000 after purchasing an additional 209 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of Nexstar Media Group in the fourth quarter worth approximately $809,000. Institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Stock Performance

Shares of Nexstar Media Group stock opened at $154.58 on Friday. 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 firm has a market capitalization of $4.80 billion, a P/E ratio of 8.94, a P/E/G ratio of 0.45 and a beta of 1.45. The business has a fifty day simple moving average of $156.02 and a two-hundred day simple moving average of $163.82. Nexstar Media Group, Inc. has a 12 month low of $147.25 and a 12 month high of $191.86.

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. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $7.44 annualized dividend and a yield of 4.81%. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s dividend payout ratio (DPR) is currently 43.03%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Nexstar Media Group

In other news, CFO Lee Ann Gliha sold 330 shares of Nexstar Media Group stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $158.23, for a total value of $52,215.90. Following the completion of the transaction, the chief financial officer now owns 8,610 shares of the company’s stock, valued at $1,362,360.30. The trade was a 3.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Perry A. Sook sold 35,205 shares of Nexstar Media Group stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $162.13, for a total value of $5,707,786.65. Following the completion of the transaction, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at approximately $109,388,138.22. This represents a 4.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 131,824 shares of company stock valued at $21,093,408. 6.30% of the stock is currently owned by company insiders.

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.