Truvestments Capital LLC Sells 1,441 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Truvestments Capital LLC reduced its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 52.3% during the 4th quarter, Holdings Channel reports. The firm owned 1,312 shares of the company’s stock after selling 1,441 shares during the period. Truvestments Capital LLC’s holdings in Nexstar Media Group were worth $207,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group bought a new position in shares of Nexstar Media Group in the 3rd quarter worth $25,000. SBI Securities Co. Ltd. bought a new position in shares of Nexstar Media Group in the 4th quarter worth $25,000. True Wealth Design LLC bought a new position in shares of Nexstar Media Group in the 3rd quarter worth $30,000. Wilmington Savings Fund Society FSB bought a new position in shares of Nexstar Media Group in the 3rd quarter worth $33,000. Finally, Jones Financial Companies Lllp boosted its position in shares of Nexstar Media Group by 15.3% in the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock worth $87,000 after purchasing an additional 73 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Loop Capital upgraded Nexstar Media Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $190.00 to $200.00 in a research report on Friday, February 28th. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Benchmark raised their price objective on Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. StockNews.com downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Guggenheim raised their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.43.

Nexstar Media Group Stock Performance

NXST opened at $169.16 on Thursday. The business’s 50-day moving average price is $157.22 and its two-hundred day moving average price is $163.76. Nexstar Media Group, Inc. has a 1 year low of $146.04 and a 1 year high of $191.86. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of 9.78, a P/E/G ratio of 0.45 and a beta of 1.47. 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 released its quarterly earnings results on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.22 by ($1.66). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. Equities analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a $1.86 dividend. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date was Wednesday, February 12th. This represents a $7.44 annualized dividend and a dividend yield of 4.40%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 34.56%.

Insider Buying and Selling at Nexstar Media Group

In other news, CEO Perry A. Sook sold 52,808 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $157.41, for a total value of $8,312,507.28. Following the completion of the transaction, the chief executive officer now owns 674,694 shares in the company, valued at $106,203,582.54. This trade represents a 7.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles Thomas Mcmillen sold 750 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $159.93, for a total value of $119,947.50. Following the completion of the transaction, the director now owns 6,975 shares of the company’s stock, valued at $1,115,511.75. The trade was a 9.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 161,455 shares of company stock valued at $26,158,403 in the last 90 days. 6.30% of the stock is currently owned by company insiders.

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.