Royce & Associates LP cut its position in shares of Nexstar Media Group Inc (NASDAQ:NXST) by 8.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,131 shares of the company’s stock after selling 2,242 shares during the period. Royce & Associates LP owned about 0.05% of Nexstar Media Group worth $1,503,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rovida Advisors Inc. acquired a new position in Nexstar Media Group during the 2nd quarter valued at about $2,912,000. Teacher Retirement System of Texas grew its stake in Nexstar Media Group by 2.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 3,584 shares of the company’s stock valued at $214,000 after purchasing an additional 99 shares during the last quarter. Sei Investments Co. grew its stake in Nexstar Media Group by 25.1% during the 2nd quarter. Sei Investments Co. now owns 18,239 shares of the company’s stock valued at $1,092,000 after purchasing an additional 3,658 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in Nexstar Media Group by 16.6% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 225,687 shares of the company’s stock valued at $14,061,000 after purchasing an additional 32,178 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Nexstar Media Group by 3.4% in the third quarter. Wells Fargo & Company MN now owns 403,890 shares of the company’s stock worth $25,162,000 after buying an additional 13,448 shares during the last quarter.
In related news, SVP Blake Russell sold 20,000 shares of the business’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $78.31, for a total value of $1,566,200.00. Following the transaction, the senior vice president now owns 42,861 shares in the company, valued at approximately $3,356,444.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Timothy C. Busch sold 10,000 shares of the business’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $79.13, for a total value of $791,300.00. Following the completion of the transaction, the insider now owns 50,214 shares in the company, valued at approximately $3,973,433.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 345,860 shares of company stock worth $23,290,703. 7.80% of the stock is owned by insiders.
A number of analysts have recently commented on NXST shares. BidaskClub upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Thursday, December 7th. Deutsche Bank assumed coverage on Nexstar Media Group in a research report on Friday, October 20th. They set a “buy” rating and a $80.00 price target on the stock. Zacks Investment Research downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. B. Riley increased their target price on Nexstar Media Group from $79.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, November 7th. Finally, Noble Financial reissued a “buy” rating on shares of Nexstar Media Group in a report on Thursday, December 21st. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Nexstar Media Group presently has a consensus rating of “Buy” and an average price target of $85.10.
Nexstar Media Group Inc (NASDAQ NXST) traded down $0.55 on Friday, hitting $79.45. The stock had a trading volume of 542,867 shares, compared to its average volume of 729,548. The stock has a market capitalization of $3,620.00, a price-to-earnings ratio of 29.76, a P/E/G ratio of 0.80 and a beta of 2.21. Nexstar Media Group Inc has a 1-year low of $55.95 and a 1-year high of $80.45. The company has a debt-to-equity ratio of 3.58, a quick ratio of 1.35 and a current ratio of 1.35.
Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Monday, November 6th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.09. Nexstar Media Group had a return on equity of 16.20% and a net margin of 5.60%. The firm had revenue of $611.87 million during the quarter, compared to analyst estimates of $609.44 million. During the same period last year, the business posted $0.78 earnings per share. Nexstar Media Group’s revenue was up 122.0% compared to the same quarter last year. research analysts expect that Nexstar Media Group Inc will post 3.46 earnings per share for the current year.
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Nexstar Media Group Company Profile
Nexstar Media Group, Inc, formerly Nexstar Broadcasting Group, Inc, is a television broadcasting and digital media company. The Company is focused on the acquisition, development and operation of television stations and interactive community Websites, and digital media services in medium-sized markets in the United States.
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