Private Management Group Inc. Has $19.50 Million Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Private Management Group Inc. lessened its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 28.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 117,433 shares of the company’s stock after selling 46,623 shares during the period. Private Management Group Inc. owned 0.36% of Nexstar Media Group worth $19,495,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NXST. Granite Group Advisors LLC raised its holdings in shares of Nexstar Media Group by 5.1% during the first quarter. Granite Group Advisors LLC now owns 1,489 shares of the company’s stock valued at $257,000 after purchasing an additional 72 shares during the period. Quadrant Capital Group LLC increased its holdings in 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 purchasing an additional 86 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. raised its stake in shares of Nexstar Media Group by 0.6% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,903 shares of the company’s stock worth $2,308,000 after purchasing an additional 87 shares during the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of Nexstar Media Group by 2.3% in the second quarter. SummerHaven Investment Management LLC now owns 4,217 shares of the company’s stock valued at $700,000 after purchasing an additional 96 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its position in shares of Nexstar Media Group by 0.3% during the first quarter. Retirement Systems of Alabama now owns 40,479 shares of the company’s stock valued at $6,974,000 after buying an additional 107 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Insider Activity

In related news, Director Charles Thomas Mcmillen sold 1,475 shares of Nexstar Media Group stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $154.99, for a total value of $228,610.25. Following the completion of the sale, the director now owns 8,975 shares of the company’s stock, valued at approximately $1,391,035.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Nexstar Media Group news, EVP Rachel Morgan sold 6,196 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $171.30, for a total transaction of $1,061,374.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Charles Thomas Mcmillen sold 1,475 shares of Nexstar Media Group stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $154.99, for a total value of $228,610.25. Following the completion of the transaction, the director now owns 8,975 shares of the company’s stock, valued at $1,391,035.25. The disclosure for this sale can be found here. Insiders have sold 17,911 shares of company stock valued at $2,939,762 in the last 90 days. Insiders own 5.90% of the company’s stock.

Nexstar Media Group Price Performance

NXST opened at $161.45 on Monday. The firm has a market cap of $5.21 billion, a P/E ratio of 13.66, a PEG ratio of 0.18 and a beta of 1.50. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78. Nexstar Media Group, Inc. has a fifty-two week low of $132.30 and a fifty-two week high of $187.27. The firm has a 50-day moving average of $170.45 and a 200 day moving average of $165.70.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Thursday, August 8th. The company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.48 by ($0.94). Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the business earned $2.64 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, research analysts expect that Nexstar Media Group, Inc. will post 25.72 EPS for the current year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $1.69 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.76 annualized dividend and a dividend yield of 4.19%. Nexstar Media Group’s payout ratio is presently 57.19%.

Analysts Set New Price Targets

Several equities analysts have weighed in on NXST shares. Barrington Research restated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, August 8th. Benchmark reissued a “buy” rating and set a $225.00 price target on shares of Nexstar Media Group in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Wells Fargo & Company dropped their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $201.67.

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.