Pacer Advisors Inc. Cuts Position in Nexstar Media Group, Inc. $NXST

Pacer Advisors Inc. decreased its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 55.5% during the 4th quarter, Holdings Channel reports. The fund owned 191,547 shares of the company’s stock after selling 239,366 shares during the quarter. Pacer Advisors Inc.’s holdings in Nexstar Media Group were worth $38,894,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of Nexstar Media Group by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,402,272 shares of the company’s stock valued at $284,738,000 after purchasing an additional 10,949 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Nexstar Media Group by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,181,727 shares of the company’s stock valued at $239,950,000 after purchasing an additional 23,360 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Nexstar Media Group by 27.1% during the 2nd quarter. Alliancebernstein L.P. now owns 882,322 shares of the company’s stock worth $152,598,000 after purchasing an additional 187,864 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Nexstar Media Group by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 773,443 shares of the company’s stock worth $157,114,000 after purchasing an additional 13,084 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Nexstar Media Group by 6.8% during the fourth quarter. Janus Henderson Group PLC now owns 632,387 shares of the company’s stock worth $128,408,000 after purchasing an additional 40,177 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Price Performance

Shares of NASDAQ:NXST opened at $164.16 on Friday. The firm has a 50 day simple moving average of $189.52 and a 200-day simple moving average of $206.34. Nexstar Media Group, Inc. has a twelve month low of $163.46 and a twelve month high of $254.30. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53. The company has a market capitalization of $5.01 billion, a PE ratio of 35.23, a P/E/G ratio of 0.41 and a beta of 0.91.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a $1.86 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a yield of 4.5%. Nexstar Media Group’s payout ratio is 159.66%.

Wall Street Analysts Forecast Growth

NXST has been the topic of several recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Nexstar Media Group in a report on Wednesday, May 27th. Guggenheim lifted their price target on Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Wall Street Zen raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Wells Fargo & Company dropped their price objective on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Finally, Benchmark cut their target price on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Nexstar Media Group presently has an average rating of “Buy” and a consensus price target of $259.67.

Insider Transactions at Nexstar Media Group

In other Nexstar Media Group news, insider Gary Weitman sold 261 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $170.81, for a total value of $44,581.41. Following the completion of the transaction, the insider owned 6,963 shares in the company, valued at $1,189,350.03. This represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Sean Compton sold 840 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $170.81, for a total value of $143,480.40. Following the transaction, the insider directly owned 14,430 shares in the company, valued at approximately $2,464,788.30. The trade was a 5.50% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 22,813 shares of company stock valued at $4,174,731 over the last quarter. 7.00% of the stock is owned by corporate insiders.

About Nexstar Media Group

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.