Nexstar Media Group, Inc. $NXST Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC decreased its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 11.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 44,996 shares of the company’s stock after selling 5,812 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Nexstar Media Group were worth $9,136,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Severin Investments LLC lifted its position in Nexstar Media Group by 104.0% in the 4th quarter. Severin Investments LLC now owns 2,495 shares of the company’s stock valued at $507,000 after purchasing an additional 1,272 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Nexstar Media Group by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 773,443 shares of the company’s stock valued at $157,114,000 after purchasing an additional 13,084 shares during the period. King Luther Capital Management Corp increased its stake in shares of Nexstar Media Group by 2.7% in the fourth quarter. King Luther Capital Management Corp now owns 29,513 shares of the company’s stock valued at $5,993,000 after purchasing an additional 775 shares during the period. Penn Capital Management Company LLC raised its holdings in shares of Nexstar Media Group by 3.6% during the fourth quarter. Penn Capital Management Company LLC now owns 103,668 shares of the company’s stock valued at $21,112,000 after buying an additional 3,567 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Nexstar Media Group during the fourth quarter valued at approximately $186,000. Institutional investors own 95.30% of the company’s stock.

Key Stories Impacting Nexstar Media Group

Here are the key news stories impacting Nexstar Media Group this week:

• Positive Sentiment: NXST was highlighted in a Zacks piece on PEG-driven value stocks, which can support the bull case by keeping the name on investors’ radar as a relatively undervalued growth stock. Article title
• Neutral Sentiment: Several Nexstar executives and insiders sold shares at $187.32, but the filings say the transactions were made to cover tax withholding tied to equity award vesting, which usually limits the bearish signal. SEC filing reference
• Neutral Sentiment: Reported short interest was shown as zero shares, so there is no meaningful short-selling data in this update to explain the stock’s move. Article reference
• Negative Sentiment: The cluster of insider sales from multiple executives, including the COO and several EVPs, may weigh on sentiment in the near term even though the sales were non-discretionary. MarketBeat insider trades page

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NXST. Zacks Research raised Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Wells Fargo & Company cut their target price on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Wall Street Zen raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Barrington Research reaffirmed an “outperform” rating and issued a $290.00 price target on shares of Nexstar Media Group in a research note on Tuesday, April 28th. Finally, Guggenheim increased their price objective on shares of Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Nexstar Media Group has an average rating of “Buy” and an average target price of $259.67.

Nexstar Media Group Trading Up 0.4%

Shares of NXST stock opened at $185.94 on Friday. The stock has a 50-day simple moving average of $198.32 and a 200 day simple moving average of $207.93. The stock has a market capitalization of $5.68 billion, a P/E ratio of 39.90, a P/E/G ratio of 0.50 and a beta of 0.97. Nexstar Media Group, Inc. has a fifty-two week low of $164.00 and a fifty-two week high of $254.30. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53.

Nexstar Media Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Friday, May 15th. Nexstar Media Group’s payout ratio is presently 159.66%.

Insiders Place Their Bets

In related news, insider Dana Zimmer sold 465 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $187.32, for a total transaction of $87,103.80. Following the completion of the sale, the insider directly owned 3,272 shares of the company’s stock, valued at $612,911.04. This represents a 12.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Andrew Alford sold 395 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $187.32, for a total transaction of $73,991.40. Following the sale, the insider owned 12,294 shares of the company’s stock, valued at $2,302,912.08. The trade was a 3.11% decrease in their ownership of the stock. 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. Over the last three months, insiders sold 9,395 shares of company stock worth $1,805,416. Company insiders own 6.70% of the company’s stock.

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.