Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Buckley Wealth Management LLC

Buckley Wealth Management LLC trimmed its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 33.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,684 shares of the company’s stock after selling 1,371 shares during the period. Buckley Wealth Management LLC’s holdings in Nexstar Media Group were worth $421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. HighTower Advisors LLC boosted its holdings in Nexstar Media Group by 2.9% in the third quarter. HighTower Advisors LLC now owns 190,972 shares of the company’s stock valued at $27,322,000 after purchasing an additional 5,389 shares during the last quarter. Copeland Capital Management LLC boosted its holdings in Nexstar Media Group by 15.3% in the third quarter. Copeland Capital Management LLC now owns 502,639 shares of the company’s stock valued at $72,063,000 after purchasing an additional 66,645 shares during the last quarter. Boston Financial Mangement LLC boosted its holdings in Nexstar Media Group by 156.5% in the third quarter. Boston Financial Mangement LLC now owns 238,670 shares of the company’s stock valued at $34,218,000 after purchasing an additional 145,617 shares during the last quarter. American Century Companies Inc. boosted its holdings in Nexstar Media Group by 519.6% in the third quarter. American Century Companies Inc. now owns 51,659 shares of the company’s stock valued at $7,406,000 after purchasing an additional 43,322 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in Nexstar Media Group by 72.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 12,182 shares of the company’s stock valued at $1,747,000 after purchasing an additional 5,121 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NXST. Barrington Research reissued an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, March 7th. Rosenblatt Securities lowered their target price on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. TheStreet raised shares of Nexstar Media Group from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Finally, Citigroup began coverage on shares of Nexstar Media Group in a research note on Friday, December 8th. They set a “neutral” rating and a $158.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $193.83.

Nexstar Media Group Price Performance

Shares of NXST traded up $3.15 during mid-day trading on Wednesday, hitting $171.89. 221,068 shares of the company were exchanged, compared to its average volume of 383,889. Nexstar Media Group, Inc. has a 1-year low of $132.30 and a 1-year high of $187.32. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.53 and a current ratio of 1.53. The company has a 50 day moving average of $168.26 and a 200-day moving average of $155.71. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of 17.85, a price-to-earnings-growth ratio of 0.63 and a beta of 1.51.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Wednesday, February 28th. The company reported $3.32 earnings per share for the quarter, missing the consensus estimate of $4.42 by ($1.10). Nexstar Media Group had a return on equity of 14.06% and a net margin of 7.03%. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the company earned $8.04 EPS. The firm’s revenue for the quarter was down 12.3% on a year-over-year basis. Analysts expect that Nexstar Media Group, Inc. will post 26.73 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were issued a $1.69 dividend. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.76 dividend on an annualized basis and a yield of 3.93%. Nexstar Media Group’s dividend payout ratio is presently 70.20%.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, CEO Perry A. Sook sold 31,758 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $158.66, for a total value of $5,038,724.28. Following the completion of the sale, the chief executive officer now owns 636,788 shares in the company, valued at approximately $101,032,784.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Lisbeth Mcnabb sold 3,175 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $168.00, for a total transaction of $533,400.00. Following the completion of the sale, the director now owns 5,252 shares in the company, valued at approximately $882,336. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Perry A. Sook sold 31,758 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $158.66, for a total transaction of $5,038,724.28. Following the sale, the chief executive officer now owns 636,788 shares of the company’s stock, valued at approximately $101,032,784.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,508 shares of company stock worth $7,146,310. Insiders own 5.90% of the company’s stock.

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.