Assetmark Inc. Sells 1,541 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Assetmark Inc. reduced its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 2.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,797 shares of the company’s stock after selling 1,541 shares during the period. Assetmark Inc.’s holdings in Nexstar Media Group were worth $8,895,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NXST. Whittier Trust Co. purchased a new stake in shares of Nexstar Media Group in the 2nd quarter worth about $27,000. Allspring Global Investments Holdings LLC grew its position in shares of Nexstar Media Group by 3,700.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after acquiring an additional 259 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Nexstar Media Group in the third quarter worth approximately $44,000. GAMMA Investing LLC raised its position in shares of Nexstar Media Group by 112.2% during the second quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock valued at $49,000 after buying an additional 156 shares during the last quarter. Finally, Mascoma Wealth Management LLC purchased a new stake in Nexstar Media Group in the 2nd quarter worth $49,000. Institutional investors own 95.30% of the company’s stock.

Insider Buying and Selling

In other news, insider Gary Weitman sold 7,261 shares of Nexstar Media Group stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $164.80, for a total transaction of $1,196,612.80. Following the completion of the sale, the insider now directly owns 5,216 shares of the company’s stock, valued at approximately $859,596.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Nexstar Media Group news, insider Gary Weitman sold 7,261 shares of Nexstar Media Group stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $164.80, for a total transaction of $1,196,612.80. Following the transaction, the insider now owns 5,216 shares of the company’s stock, valued at $859,596.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jay M. Grossman sold 10,000 shares of Nexstar Media Group stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $170.70, for a total transaction of $1,707,000.00. Following the completion of the transaction, the director now owns 54,625 shares in the company, valued at approximately $9,324,487.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,112 shares of company stock worth $6,887,029. Company insiders own 6.30% of the company’s stock.

Nexstar Media Group Stock Up 3.0 %

Shares of NXST opened at $171.01 on Tuesday. The stock has a 50 day moving average price of $168.54 and a 200 day moving average price of $167.06. The stock has a market capitalization of $5.52 billion, a price-to-earnings ratio of 9.89, a PEG ratio of 0.19 and a beta of 1.48. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78. Nexstar Media Group, Inc. has a one year low of $140.92 and a one year high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing the consensus estimate of $5.51 by ($0.24). The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 25.72%. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 EPS. Equities research analysts forecast that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

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

Analysts Set New Price Targets

NXST has been the topic of a number of research reports. Benchmark restated a “buy” rating and issued a $215.00 target price on shares of Nexstar Media Group in a report on Friday. 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. StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday. Loop Capital downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $200.00 to $190.00 in a research note on Friday. Finally, Wells Fargo & Company reduced their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and an average price target of $198.50.

Nexstar Media Group Company 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.