Arcadia Investment Management Corp MI Sells 281 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Arcadia Investment Management Corp MI cut its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 2.2% in the third quarter, HoldingsChannel.com reports. The fund owned 12,361 shares of the company’s stock after selling 281 shares during the period. Arcadia Investment Management Corp MI’s holdings in Nexstar Media Group were worth $2,044,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in NXST. Capital Research Global Investors bought a new stake in Nexstar Media Group during the first quarter valued at approximately $92,323,000. Vanguard Group Inc. boosted its position in shares of Nexstar Media Group by 3.9% in the first quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock worth $580,689,000 after purchasing an additional 127,783 shares during the period. Payden & Rygel Investment Group bought a new position in shares of Nexstar Media Group in the first quarter worth approximately $15,144,000. Copeland Capital Management LLC boosted its position in shares of Nexstar Media Group by 18.1% in the third quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock worth $90,567,000 after purchasing an additional 83,829 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of Nexstar Media Group by 72.0% in the second quarter. AQR Capital Management LLC now owns 199,811 shares of the company’s stock worth $32,769,000 after purchasing an additional 83,637 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Nexstar Media Group Price Performance

Nexstar Media Group stock opened at $177.08 on Friday. Nexstar Media Group, Inc. has a 52-week low of $140.92 and a 52-week high of $187.27. The company has a market cap of $5.71 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 0.20 and a beta of 1.48. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 2.92. The firm’s fifty day moving average is $167.82 and its 200 day moving average is $166.40.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $4.48 by ($0.94). Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the company posted $2.64 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. Sell-side analysts forecast that Nexstar Media Group, Inc. will post 25.72 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Friday, November 15th. Nexstar Media Group’s dividend payout ratio is currently 53.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NXST shares. Wells Fargo & Company dropped their price target on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Barrington Research reiterated an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, August 8th. StockNews.com lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Benchmark decreased their price target on shares of Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $199.71.

Insider Activity

In other news, CFO Lee Ann Gliha sold 984 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total value of $155,107.92. Following the sale, the chief financial officer now owns 8,107 shares of the company’s stock, valued at approximately $1,277,906.41. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Charles Thomas Mcmillen sold 250 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $164.44, for a total value of $41,110.00. Following the transaction, the director now directly owns 7,725 shares in the company, valued at approximately $1,270,299. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Lee Ann Gliha sold 984 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total transaction of $155,107.92. Following the completion of the transaction, the chief financial officer now owns 8,107 shares in the company, valued at approximately $1,277,906.41. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,112 shares of company stock valued at $6,887,029. 6.30% of the stock is currently owned by company insiders.

Nexstar Media Group Profile

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.