Brown Advisory Inc. Cuts Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Brown Advisory Inc. trimmed its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXSTGet Rating) by 11.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 520,374 shares of the company’s stock after selling 70,391 shares during the period. Brown Advisory Inc.’s holdings in Nexstar Media Group were worth $97,274,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Financial Corp IN bought a new position in shares of Nexstar Media Group during the 1st quarter valued at $41,000. Exchange Traded Concepts LLC lifted its holdings in shares of Nexstar Media Group by 69.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 278 shares of the company’s stock valued at $52,000 after buying an additional 114 shares during the period. DekaBank Deutsche Girozentrale bought a new position in shares of Nexstar Media Group during the 4th quarter valued at $59,000. UMB Bank N A MO bought a new position in shares of Nexstar Media Group during the 4th quarter valued at $72,000. Finally, McIlrath & Eck LLC lifted its holdings in shares of Nexstar Media Group by 30.5% during the 4th quarter. McIlrath & Eck LLC now owns 624 shares of the company’s stock valued at $94,000 after buying an additional 146 shares during the period. 96.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on NXST. Rosenblatt Securities increased their price target on Nexstar Media Group to $181.00 and gave the company a “na” rating in a report on Monday, May 16th. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Thursday, May 12th. Deutsche Bank Aktiengesellschaft raised their target price on Nexstar Media Group from $216.00 to $225.00 in a report on Thursday, May 12th. Finally, Guggenheim raised their target price on Nexstar Media Group from $210.00 to $220.00 in a report on Wednesday, May 11th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $210.57.

Insiders Place Their Bets

In other news, EVP Blake Russell sold 709 shares of the firm’s stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $173.86, for a total transaction of $123,266.74. Following the completion of the transaction, the executive vice president now owns 29,557 shares in the company, valued at $5,138,780.02. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Blake Russell sold 709 shares of the firm’s stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $173.86, for a total transaction of $123,266.74. Following the completion of the transaction, the executive vice president now owns 29,557 shares in the company, valued at $5,138,780.02. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Gary Weitman sold 3,202 shares of the firm’s stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $168.20, for a total value of $538,576.40. Following the transaction, the insider now owns 2,783 shares of the company’s stock, valued at approximately $468,100.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,960 shares of company stock worth $2,233,523. Corporate insiders own 5.00% of the company’s stock.

Nexstar Media Group Trading Down 0.6 %

Shares of NXST stock opened at $194.03 on Friday. Nexstar Media Group, Inc. has a 52-week low of $138.80 and a 52-week high of $197.22. The company has a debt-to-equity ratio of 2.47, a quick ratio of 2.02 and a current ratio of 2.02. The firm has a market capitalization of $7.84 billion, a PE ratio of 8.97, a PEG ratio of 0.74 and a beta of 1.50. The stock has a fifty day simple moving average of $172.71 and a two-hundred day simple moving average of $173.59.

Nexstar Media Group (NASDAQ:NXSTGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported $5.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.46 by $0.10. Nexstar Media Group had a return on equity of 32.55% and a net margin of 18.79%. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the business posted $4.51 EPS. Nexstar Media Group’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, analysts predict that Nexstar Media Group, Inc. will post 26.4 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th will be paid a $0.90 dividend. The ex-dividend date is Wednesday, August 10th. This represents a $3.60 dividend on an annualized basis and a yield of 1.86%. Nexstar Media Group’s payout ratio is presently 16.64%.

About Nexstar Media Group

(Get Rating)

Nexstar Media Group, Inc, a television broadcasting and digital media company, focuses on the acquisition, development, and operation of television stations and interactive community websites and digital media services in the United States. The company offers free programming to television viewing audiences.

See Also

Want to see what other hedge funds are holding NXST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nexstar Media Group, Inc. (NASDAQ:NXSTGet Rating).

Institutional Ownership by Quarter for Nexstar Media Group (NASDAQ:NXST)

Receive News & Ratings for Nexstar Media Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nexstar Media Group and related companies with MarketBeat.com's FREE daily email newsletter.