Phocas Financial Corp. Sells 41,811 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Phocas Financial Corp. reduced its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 84.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,599 shares of the company’s stock after selling 41,811 shares during the period. Phocas Financial Corp.’s holdings in Nexstar Media Group were worth $1,200,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NXST. Pacer Advisors Inc. increased its position in shares of Nexstar Media Group by 27,180.2% in the fourth quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company’s stock valued at $190,650,000 after acquiring an additional 1,202,453 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Nexstar Media Group by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company’s stock valued at $179,149,000 after purchasing an additional 7,117 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Nexstar Media Group by 5.0% during the 4th quarter. Bank of New York Mellon Corp now owns 403,728 shares of the company’s stock worth $63,777,000 after purchasing an additional 19,116 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of Nexstar Media Group by 6.1% during the 3rd quarter. New York State Common Retirement Fund now owns 189,673 shares of the company’s stock worth $31,362,000 after purchasing an additional 10,938 shares in the last quarter. Finally, Capital Management Corp VA boosted its holdings in shares of Nexstar Media Group by 2.7% in the 3rd quarter. Capital Management Corp VA now owns 162,295 shares of the company’s stock valued at $26,835,000 after buying an additional 4,258 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Barrington Research reissued an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, November 7th. Benchmark reiterated a “buy” rating and set a $215.00 target price on shares of Nexstar Media Group in a research note on Friday, November 8th. Loop Capital downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating and decreased their price objective for the company from $200.00 to $190.00 in a report on Friday, November 8th. Finally, Guggenheim restated a “buy” rating on shares of Nexstar Media Group in a research report on Wednesday, January 22nd. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.29.

Nexstar Media Group Stock Down 0.9 %

NASDAQ NXST opened at $149.23 on Wednesday. The business has a fifty day moving average price of $155.22 and a two-hundred day moving average price of $163.41. The stock has a market capitalization of $4.63 billion, a PE ratio of 8.63, a PEG ratio of 0.45 and a beta of 1.45. Nexstar Media Group, Inc. has a fifty-two week low of $147.13 and a fifty-two week high of $191.86. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68.

Nexstar Media Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date of this dividend is Wednesday, February 12th. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s payout ratio is presently 43.03%.

Insider Buying and Selling at Nexstar Media Group

In related news, Director Lisbeth Mcnabb sold 875 shares of Nexstar Media Group stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $172.00, for a total transaction of $150,500.00. Following the sale, the director now directly owns 5,752 shares in the company, valued at $989,344. This trade represents a 13.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Perry A. Sook sold 52,808 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $157.41, for a total transaction of $8,312,507.28. Following the completion of the transaction, the chief executive officer now owns 674,694 shares of the company’s stock, valued at approximately $106,203,582.54. This trade represents a 7.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 127,493 shares of company stock worth $20,354,366. 6.30% of the stock is currently owned by insiders.

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.