Delphi Management Inc. MA Sells 480 Shares of Nexstar Media Group, Inc. $NXST

Delphi Management Inc. MA cut its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 6.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,657 shares of the company’s stock after selling 480 shares during the quarter. Delphi Management Inc. MA’s holdings in Nexstar Media Group were worth $1,151,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in NXST. Whipplewood Advisors LLC boosted its position in shares of Nexstar Media Group by 830.3% during the first quarter. Whipplewood Advisors LLC now owns 307 shares of the company’s stock valued at $55,000 after purchasing an additional 274 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Nexstar Media Group by 2,293.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 383 shares of the company’s stock valued at $69,000 after purchasing an additional 367 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of Nexstar Media Group by 62.3% during the first quarter. First Horizon Advisors Inc. now owns 401 shares of the company’s stock valued at $72,000 after purchasing an additional 154 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Nexstar Media Group by 2,126.3% during the first quarter. Versant Capital Management Inc now owns 423 shares of the company’s stock valued at $76,000 after purchasing an additional 404 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its position in shares of Nexstar Media Group by 186.7% during the first quarter. SBI Securities Co. Ltd. now owns 453 shares of the company’s stock valued at $81,000 after purchasing an additional 295 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on NXST shares. Benchmark boosted their target price on Nexstar Media Group from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Guggenheim boosted their target price on Nexstar Media Group from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Zacks Research raised Nexstar Media Group to a “hold” rating in a report on Friday, August 8th. Wells Fargo & Company boosted their target price on Nexstar Media Group from $206.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Finally, Barrington Research reissued an “outperform” rating and issued a $225.00 target price on shares of Nexstar Media Group in a report on Tuesday, August 19th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $225.00.

Nexstar Media Group Stock Up 0.4%

NXST stock opened at $206.95 on Friday. Nexstar Media Group, Inc. has a 1-year low of $141.66 and a 1-year high of $223.36. The business has a fifty day moving average price of $195.15 and a 200-day moving average price of $176.64. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.69 and a quick ratio of 1.69. The stock has a market capitalization of $6.27 billion, a P/E ratio of 10.75, a P/E/G ratio of 1.53 and a beta of 1.04.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, August 7th. The company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.95 by $0.11. Nexstar Media Group had a return on equity of 28.40% and a net margin of 11.90%.The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the business earned $3.54 earnings per share. The company’s revenue was down 3.2% on a year-over-year basis. Equities analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a $1.86 dividend. The ex-dividend date was Friday, August 15th. This represents a $7.44 annualized dividend and a dividend yield of 3.6%. Nexstar Media Group’s payout ratio is currently 38.63%.

Insider Transactions at Nexstar Media Group

In related news, insider Andrew Alford sold 757 shares of the company’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $165.25, for a total transaction of $125,094.25. Following the completion of the sale, the insider owned 10,528 shares in the company, valued at approximately $1,739,752. This represents a 6.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dana Zimmer sold 889 shares of the company’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total value of $146,907.25. Following the sale, the insider owned 6,201 shares of the company’s stock, valued at approximately $1,024,715.25. This trade represents a 12.54% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,209 shares of company stock valued at $860,787. Insiders own 6.70% of the company’s stock.

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.