Cynosure Group LLC Sells 270 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Cynosure Group LLC trimmed its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 11.0% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 2,190 shares of the company’s stock after selling 270 shares during the period. Cynosure Group LLC’s holdings in Nexstar Media Group were worth $362,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in NXST. Copeland Capital Management LLC increased its position in 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. AQR Capital Management LLC grew its position in shares of Nexstar Media Group by 72.0% during the 2nd quarter. AQR Capital Management LLC now owns 199,811 shares of the company’s stock worth $32,769,000 after buying an additional 83,637 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Nexstar Media Group by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock worth $220,189,000 after buying an additional 62,331 shares during the last quarter. Long Focus Capital Management LLC lifted its holdings in Nexstar Media Group by 86.2% in the second quarter. Long Focus Capital Management LLC now owns 121,000 shares of the company’s stock valued at $20,087,000 after buying an additional 56,000 shares during the period. Finally, Payden & Rygel boosted its stake in Nexstar Media Group by 40.4% in the third quarter. Payden & Rygel now owns 110,200 shares of the company’s stock valued at $18,222,000 after acquiring an additional 31,700 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on NXST shares. Barrington Research reiterated an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, November 7th. Guggenheim dropped their price objective on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a report on Friday, October 4th. Benchmark restated a “buy” rating and set a $215.00 target price on shares of Nexstar Media Group in a report on Friday, November 8th. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $198.50.

Nexstar Media Group Stock Performance

Shares of NXST stock opened at $171.15 on Friday. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. Nexstar Media Group, Inc. has a 52 week low of $141.38 and a 52 week high of $191.86. The company’s 50 day moving average price is $169.16 and its two-hundred day moving average price is $167.12. The company has a market capitalization of $5.31 billion, a P/E ratio of 9.90, a price-to-earnings-growth ratio of 0.20 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.51 by ($0.24). The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The firm’s revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.70 EPS. On average, analysts expect that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $1.69 dividend. The ex-dividend date is Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.95%. Nexstar Media Group’s dividend payout ratio (DPR) is 39.10%.

Insider Transactions at Nexstar Media Group

In other Nexstar Media Group news, insider Andrew Alford sold 3,175 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $167.82, for a total transaction of $532,828.50. Following the completion of the transaction, the insider now owns 9,173 shares of the company’s stock, valued at $1,539,412.86. This represents a 25.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles Thomas Mcmillen sold 250 shares of Nexstar Media Group stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $164.44, for a total transaction of $41,110.00. Following the completion of the sale, the director now owns 7,725 shares in the company, valued at $1,270,299. This trade represents a 3.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,423 shares of company stock valued at $7,916,739 over the last three months. Company insiders own 6.30% 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.