Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. trimmed its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 33.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,782 shares of the company’s stock after selling 31,351 shares during the period. Epoch Investment Partners Inc. owned about 0.19% of Nexstar Media Group worth $10,817,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. SummerHaven Investment Management LLC grew its holdings in Nexstar Media Group by 1.8% during the fourth quarter. SummerHaven Investment Management LLC now owns 4,066 shares of the company’s stock worth $637,000 after acquiring an additional 70 shares during the period. Signaturefd LLC grew its holdings in Nexstar Media Group by 20.3% in the fourth quarter. Signaturefd LLC now owns 420 shares of the company’s stock valued at $66,000 after purchasing an additional 71 shares during the period. Fifth Third Bancorp grew its holdings in Nexstar Media Group by 7.8% in the fourth quarter. Fifth Third Bancorp now owns 1,122 shares of the company’s stock valued at $176,000 after purchasing an additional 81 shares during the period. Quadrant Capital Group LLC grew its holdings in Nexstar Media Group by 41.1% in the fourth quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock valued at $46,000 after purchasing an additional 86 shares during the period. Finally, Retirement Systems of Alabama grew its holdings in Nexstar Media Group by 0.3% in the first quarter. Retirement Systems of Alabama now owns 40,479 shares of the company’s stock valued at $6,974,000 after purchasing an additional 107 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group Stock Performance

NASDAQ NXST opened at $183.36 on Monday. The company has a market cap of $6.04 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 0.66 and a beta of 1.50. The stock’s 50 day simple moving average is $163.97 and its 200-day simple moving average is $166.40. 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 2.85, a current ratio of 1.80 and a quick ratio of 1.80.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, May 9th. The company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.28 by $0.88. Nexstar Media Group had a return on equity of 17.18% and a net margin of 8.29%. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the business posted $2.97 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Nexstar Media Group, Inc. will post 27.62 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be given a dividend of $1.69 per share. The ex-dividend date is Friday, August 9th. This represents a $6.76 dividend on an annualized basis and a yield of 3.69%. Nexstar Media Group’s payout ratio is 57.19%.

Wall Street Analyst Weigh In

Several brokerages have commented on NXST. Barrington Research reissued an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Tuesday, July 23rd. Loop Capital raised Nexstar Media Group to a “strong-buy” rating in a report on Friday, May 10th. Benchmark reissued a “buy” rating and issued a $225.00 price objective on shares of Nexstar Media Group in a report on Thursday, June 20th. Finally, Wells Fargo & Company raised Nexstar Media Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $190.00 to $221.00 in a report on Monday, May 13th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $203.67.

Insider Buying and Selling

In related news, CFO Lee Ann Gliha sold 326 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $160.00, for a total transaction of $52,160.00. Following the transaction, the chief financial officer now owns 5,462 shares in the company, valued at $873,920. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Blake Russell sold 433 shares of Nexstar Media Group stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $167.43, for a total transaction of $72,497.19. Following the transaction, the executive vice president now owns 25,537 shares in the company, valued at $4,275,659.91. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Lee Ann Gliha sold 326 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $160.00, for a total value of $52,160.00. Following the sale, the chief financial officer now directly owns 5,462 shares of the company’s stock, valued at approximately $873,920. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,826 shares of company stock worth $1,080,597. 5.90% of the stock is owned by corporate insiders.

About Nexstar Media Group

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.