Pitcairn Co. Lowers Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Pitcairn Co. decreased its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 5.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,816 shares of the company’s stock after selling 152 shares during the period. Pitcairn Co.’s holdings in Nexstar Media Group were worth $485,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its holdings in shares of Nexstar Media Group by 632.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock valued at $32,000 after purchasing an additional 177 shares in the last quarter. First United Bank & Trust purchased a new position in Nexstar Media Group in the fourth quarter valued at about $33,000. SRS Capital Advisors Inc. increased its holdings in Nexstar Media Group by 350.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 239 shares of the company’s stock valued at $37,000 after buying an additional 186 shares in the last quarter. OLD Second National Bank of Aurora acquired a new stake in shares of Nexstar Media Group during the 4th quarter valued at approximately $45,000. Finally, Quadrant Capital Group LLC boosted its stake in shares of Nexstar Media Group by 41.1% during the 4th quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock worth $46,000 after acquiring an additional 86 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Stock Up 1.3 %

Shares of NASDAQ:NXST opened at $177.22 on Friday. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 2.85. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 0.63 and a beta of 1.50. The stock’s 50-day moving average price is $163.70 and its two-hundred day moving average price is $166.39. Nexstar Media Group, Inc. has a 12-month low of $132.30 and a 12-month high of $187.32.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, May 9th. The company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.28 by $0.88. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the firm posted $2.97 EPS. The company’s revenue was up 2.1% on a year-over-year basis. On average, research analysts forecast that Nexstar Media Group, Inc. will post 27.62 EPS for the current year.

Insider Buying and Selling at Nexstar Media Group

In other news, EVP Blake Russell sold 433 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $167.43, for a total transaction of $72,497.19. Following the completion of the sale, the executive vice president now directly owns 25,537 shares of the company’s stock, valued at approximately $4,275,659.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Charles Thomas Mcmillen sold 1,475 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $166.08, for a total value of $244,968.00. Following the transaction, the director now directly owns 6,175 shares in the company, valued at approximately $1,025,544. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Blake Russell sold 433 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $167.43, for a total transaction of $72,497.19. Following the sale, the executive vice president now owns 25,537 shares of the company’s stock, valued at $4,275,659.91. The disclosure for this sale can be found here. Insiders have sold a total of 6,826 shares of company stock worth $1,080,597 in the last quarter. 5.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on NXST. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Tuesday. Benchmark restated a “buy” rating and issued a $225.00 price target on shares of Nexstar Media Group in a research report on Thursday, June 20th. Wells Fargo & Company upgraded shares of Nexstar Media Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $190.00 to $221.00 in a research report on Monday, May 13th. Finally, Loop Capital raised Nexstar Media Group to a “strong-buy” rating in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Nexstar Media Group presently has a consensus rating of “Moderate Buy” and an average price target of $203.67.

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.