Shelton Capital Management Decreases Stock Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Shelton Capital Management decreased its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 10.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,716 shares of the company’s stock after selling 197 shares during the period. Shelton Capital Management’s holdings in Nexstar Media Group were worth $286,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Zions Bancorporation N.A. raised its holdings in shares of Nexstar Media Group by 0.7% during the second quarter. Zions Bancorporation N.A. now owns 8,767 shares of the company’s stock valued at $1,460,000 after acquiring an additional 59 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Nexstar Media Group by 4.0% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 1,619 shares of the company’s stock valued at $305,000 after purchasing an additional 62 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Nexstar Media Group by 7.5% during the second quarter. Fifth Third Bancorp now owns 1,018 shares of the company’s stock valued at $170,000 after buying an additional 71 shares during the period. Wade G W & Inc. raised its stake in Nexstar Media Group by 3.7% in the first quarter. Wade G W & Inc. now owns 2,054 shares of the company’s stock worth $355,000 after buying an additional 73 shares in the last quarter. Finally, Invst LLC boosted its position in Nexstar Media Group by 2.0% during the 2nd quarter. Invst LLC now owns 4,026 shares of the company’s stock valued at $671,000 after acquiring an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. StockNews.com started coverage on Nexstar Media Group in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Barrington Research reissued an “outperform” rating and set a $235.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, August 8th. Rosenblatt Securities reiterated a “buy” rating and set a $230.00 target price on shares of Nexstar Media Group in a report on Friday, September 15th. Wells Fargo & Company dropped their price target on Nexstar Media Group from $175.00 to $167.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 9th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Nexstar Media Group from $210.00 to $205.00 and set a “buy” rating for the company in a research report on Tuesday, August 15th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $214.50.

Insiders Place Their Bets

In other news, insider Thomas Carter sold 6,000 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $149.36, for a total transaction of $896,160.00. Following the sale, the insider now directly owns 92,082 shares in the company, valued at approximately $13,753,367.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.90% of the company’s stock.

Nexstar Media Group Stock Up 0.9 %

Shares of Nexstar Media Group stock opened at $151.17 on Tuesday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 2.87. Nexstar Media Group, Inc. has a twelve month low of $132.30 and a twelve month high of $217.76. The company has a market cap of $5.13 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 1.42 and a beta of 1.53. The company’s 50 day moving average is $143.70 and its 200 day moving average is $157.10.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Wednesday, November 8th. The company reported $0.70 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.83). The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.16 billion. Nexstar Media Group had a return on equity of 20.92% and a net margin of 8.51%. The business’s revenue was down 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $7.30 EPS. Research analysts anticipate that Nexstar Media Group, Inc. will post 11.25 EPS for the current year.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 27th. Shareholders of record on Friday, November 10th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Thursday, November 9th. Nexstar Media Group’s dividend payout ratio is currently 46.51%.

Nexstar Media Group Profile

Nexstar Media Group, Inc, a television broadcasting and digital media company, focuses on the acquisition, development, and operation of television stations and interactive community websites and digital media services in the United States. The company offers free programming to television viewing audiences.