Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. cut its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 54.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,551 shares of the company’s stock after selling 1,880 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Nexstar Media Group were worth $256,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Whittier Trust Co. acquired a new stake in shares of Nexstar Media Group during the 2nd quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Nexstar Media Group by 3,700.0% during the second 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 acquired a new position in Nexstar Media Group during the third quarter valued at $44,000. GAMMA Investing LLC lifted its position in Nexstar Media Group by 112.2% in the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock worth $49,000 after buying an additional 156 shares in the last quarter. Finally, Mascoma Wealth Management LLC purchased a new stake in shares of Nexstar Media Group during the 2nd quarter worth about $49,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insider Activity

In related news, EVP Michael Strober sold 1,076 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $167.50, for a total transaction of $180,230.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Rachel Morgan sold 6,196 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $171.30, for a total transaction of $1,061,374.80. The disclosure for this sale can be found here. Insiders have sold a total of 48,437 shares of company stock valued at $8,429,561 over the last ninety days. 6.30% of the stock is currently owned by corporate insiders.

Nexstar Media Group Trading Up 0.2 %

NASDAQ NXST opened at $162.18 on Tuesday. Nexstar Media Group, Inc. has a 12 month low of $141.38 and a 12 month high of $191.86. The business has a fifty day simple moving average of $168.61 and a 200 day simple moving average of $167.16. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. The firm has a market capitalization of $5.03 billion, a P/E ratio of 9.38, a PEG ratio of 0.19 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 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 26.03%. Nexstar Media Group’s revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.70 EPS. On average, analysts predict that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 4.17%. The ex-dividend date is Friday, November 15th. Nexstar Media Group’s dividend payout ratio is presently 39.10%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NXST shares. StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Barrington Research reiterated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, November 7th. Wells Fargo & Company reduced their price objective on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Benchmark reaffirmed a “buy” rating and issued a $215.00 price target on shares of Nexstar Media Group in a report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Nexstar Media Group presently has an average rating of “Moderate Buy” and a consensus price target of $198.50.

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.