Arcadia Investment Management Corp MI Sells 4,310 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Arcadia Investment Management Corp MI trimmed its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 25.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,642 shares of the company’s stock after selling 4,310 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in Nexstar Media Group were worth $2,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of NXST. Victory Capital Management Inc. lifted its holdings in shares of Nexstar Media Group by 117.6% during the 4th quarter. Victory Capital Management Inc. now owns 25,610 shares of the company’s stock valued at $4,014,000 after buying an additional 13,838 shares during the period. New York Life Investment Management LLC increased its stake in shares of Nexstar Media Group by 4.4% in the 4th quarter. New York Life Investment Management LLC now owns 3,795 shares of the company’s stock worth $595,000 after purchasing an additional 160 shares in the last quarter. M&T Bank Corp increased its stake in shares of Nexstar Media Group by 18.3% in the 4th quarter. M&T Bank Corp now owns 2,975 shares of the company’s stock worth $466,000 after purchasing an additional 461 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Nexstar Media Group by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 324,995 shares of the company’s stock worth $50,943,000 after purchasing an additional 2,904 shares in the last quarter. Finally, Ethos Financial Group LLC purchased a new stake in shares of Nexstar Media Group in the 4th quarter worth $438,000. 95.30% of the stock is owned by institutional investors.

Nexstar Media Group Price Performance

NXST stock traded up $0.43 during trading on Friday, reaching $163.21. The company’s stock had a trading volume of 15,238 shares, compared to its average volume of 332,003. Nexstar Media Group, Inc. has a 1 year low of $132.30 and a 1 year high of $187.27. 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 company has a market capitalization of $5.38 billion, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 0.19 and a beta of 1.50. The company’s fifty day moving average is $170.54 and its 200-day moving average is $165.85.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.64 EPS. On average, research analysts expect that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a dividend of $1.69 per share. The ex-dividend date was Friday, August 9th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.14%. Nexstar Media Group’s payout ratio is 57.19%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wells Fargo & Company reduced their price objective on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Benchmark restated a “buy” rating and issued a $225.00 price objective on shares of Nexstar Media Group in a research note 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 note on Thursday, August 8th. Finally, Loop Capital upgraded Nexstar Media Group to a “strong-buy” rating in a research note on Friday, May 10th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.67.

Insider Activity

In other news, CFO Lee Ann Gliha sold 747 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $149.08, for a total transaction of $111,362.76. Following the completion of the transaction, the chief financial officer now owns 6,591 shares in the company, valued at $982,586.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Lee Ann Gliha sold 747 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $149.08, for a total value of $111,362.76. Following the completion of the transaction, the chief financial officer now owns 6,591 shares of the company’s stock, valued at approximately $982,586.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Rachel Morgan sold 6,196 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $171.30, for a total transaction of $1,061,374.80. The disclosure for this sale can be found here. Insiders sold a total of 17,911 shares of company stock worth $2,939,762 over the last 90 days. Corporate insiders own 5.90% of the company’s stock.

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.