Nexstar Media Group, Inc. (NASDAQ:NXST) Stock Sold by Parallel Advisors LLC


Parallel Advisors LLC reduced its stake in Nexstar Media Group, Inc. (NASDAQ: NXSTGet a rating) by 25.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The company held 555 shares of the company after selling 190 shares during the quarter. Parallel Advisors LLC’s holdings in Nexstar Media Group were worth $105,000 when it last filed with the SEC.

A number of other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. increased its stake in Nexstar Media Group by 4.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,557 shares of the company valued at $235,000 after purchasing an additional 60 shares during the period. M&T Bank Corp increased its stake in Nexstar Media Group by 5.2% in the fourth quarter. M&T Bank Corp now owns 1,446 shares of the company valued at $218,000 after purchasing an additional 72 shares during the period. First Republic Investment Management Inc. increased its stake in Nexstar Media Group by 6.6% in the fourth quarter. First Republic Investment Management Inc. now owns 1,535 shares of the company valued at $232,000 after purchasing an additional 95 shares during the period. The New York State Teachers Retirement System increased its stake in Nexstar Media Group by 2.9% in the fourth quarter. The New York State Teachers’ Retirement System now owns 3,500 shares of the company valued at $528,000 after purchasing an additional 100 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Nexstar Media Group by 0.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,510 shares of the company valued at $1,889,000 after purchasing an additional 108 shares during the period. 96.00% of the shares are currently held by institutional investors and hedge funds.

Nexstar Media Group share up 1.3%

NXST Stock opened at $182.89 on Friday. The company has a market capitalization of $7.39 billion, a P/E ratio of 8.88, a P/E/G ratio of 0.68 and a beta of 1.50. Nexstar Media Group, Inc. has a 52 week low of $138.80 and a 52 week high of $192.84. The company’s 50-day moving average price is $168.85 and its 200-day moving average price is $171.20. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt ratio of 2.47.

Nexstar Media Group (NASDAQ: NXSTGet a rating) last released its quarterly earnings data on Tuesday, May 10. The company reported EPS of $5.99 for the quarter, beating analyst consensus estimates of $4.33 from $1.66. The company posted revenue of $1.21 billion for the quarter, versus a consensus estimate of $1.19 billion. Nexstar Media Group achieved a net margin of 18.66% and a return on equity of 32.08%. The company’s revenue increased 6.9% year over year. In the same quarter of the previous year, the company had earned earnings per share of $4.42. On average, research analysts expect Nexstar Media Group, Inc. to post earnings per share of 25.9 for the current fiscal year.

Nexstar Media Group announces dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 27. Shareholders of record on Friday, May 13 received a dividend of $0.90. This represents an annualized dividend of $3.60 and a dividend yield of 1.97%. The ex-dividend date was Thursday, May 12. Nexstar Media Group’s dividend payout ratio (DPR) is currently 17.48%.

Analyst upgrades and downgrades

A number of research analysts have recently released NXST stock reports. Rosenblatt Securities raised its price target on Nexstar Media Group stock to $181.00 and assigned the stock an “na” rating in a Monday, May 16 research note. StockNews.com upgraded Nexstar Media Group shares from a “hold” rating to a “buy” rating in a Thursday, May 12 research note. Deutsche Bank Aktiengesellschaft raised its price target on Nexstar Media Group shares from $216.00 to $225.00 in a Thursday, May 12 research note. Finally, Guggenheim raised its price target on Nexstar Media Group shares from $210.00 to $220.00 in a Wednesday, May 11 research note. Five equity research analysts rated the stock with a buy rating. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $210.57.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, EVP Blake Russell sold 709 shares of the company in a trade dated Wednesday, May 18. The shares were sold at an average price of $173.86, for a total value of $123,266.74. Following the sale, the executive vice president now owns 29,557 shares of the company, valued at $5,138,780.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC website. In related news, insider Dana Zimmer sold 2,869 shares of the company in a transaction that took place on Monday, May 23. The shares were sold at an average price of $175.97, for a total transaction of $504,857.93. Following the transaction, the insider now owns 1,792 shares of the company, valued at $315,338.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Also, VPE Blake Russell sold 709 shares of the company in a transaction that took place on Wednesday, May 18. The shares were sold at an average price of $173.86, for a total transaction of $123,266.74. Following the transaction, the executive vice president now directly owns 29,557 shares of the company, valued at approximately $5,138,780.02. Disclosure of this sale can be found here. Insiders sold 12,960 shares of the company valued at $2,233,523 during the last quarter. Company insiders hold 5.00% of the company’s shares.

About Nexstar Media Group

(Get a rating)

Nexstar Media Group, Inc, a television broadcasting and digital media company, is focused 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 viewers.

See also

Want to see which other hedge funds hold NXST? Visit HoldingsChannel.com for the latest 13F reporting and insider trading for Nexstar Media Group, Inc. (NASDAQ: NXSTGet a rating).

Institutional ownership by quarter for Nexstar Media Group (NASDAQ: NXST)



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