Nexstar Media Group, Inc. $NXST Shares Sold by Bruni J V & Co. Co.

Bruni J V & Co. Co. trimmed its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 5.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 181,638 shares of the company’s stock after selling 9,577 shares during the period. Nexstar Media Group accounts for approximately 3.6% of Bruni J V & Co. Co.’s holdings, making the stock its 11th largest holding. Bruni J V & Co. Co.’s holdings in Nexstar Media Group were worth $36,882,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Torren Management LLC acquired a new stake in Nexstar Media Group in the 4th quarter worth about $28,000. Measured Wealth Private Client Group LLC acquired a new stake in Nexstar Media Group in the 3rd quarter worth about $28,000. WPG Advisers LLC boosted its stake in Nexstar Media Group by 65.7% in the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock worth $36,000 after buying an additional 71 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in Nexstar Media Group by 164.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock worth $40,000 after buying an additional 125 shares during the last quarter. Finally, Danske Bank A S acquired a new stake in Nexstar Media Group in the 3rd quarter worth about $59,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NXST shares. Guggenheim lifted their price objective on Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Deutsche Bank Aktiengesellschaft reduced their price objective on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Citigroup raised Nexstar Media Group from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $252.00 to $220.00 in a research note on Friday, April 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday. Finally, Wells Fargo & Company reduced their price objective on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Nexstar Media Group has a consensus rating of “Buy” and a consensus price target of $259.67.

Nexstar Media Group Stock Performance

Nexstar Media Group stock opened at $178.43 on Friday. The stock’s 50 day moving average price is $197.31 and its 200 day moving average price is $207.72. The firm has a market capitalization of $5.45 billion, a PE ratio of 38.29, a price-to-earnings-growth ratio of 0.45 and a beta of 0.97. The company has a debt-to-equity ratio of 5.53, a quick ratio of 1.76 and a current ratio of 1.76. Nexstar Media Group, Inc. has a one year low of $164.00 and a one year high of $254.30.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a dividend of $1.86 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $7.44 annualized dividend and a yield of 4.2%. Nexstar Media Group’s payout ratio is 159.66%.

Insider Activity

In related news, EVP Lee Ann Gliha sold 742 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $187.32, for a total transaction of $138,991.44. Following the transaction, the executive vice president directly owned 17,988 shares of the company’s stock, valued at approximately $3,369,512.16. The trade was a 3.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Andrew Alford sold 395 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $187.32, for a total value of $73,991.40. Following the transaction, the insider directly owned 12,294 shares in the company, valued at $2,302,912.08. This trade represents a 3.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 9,395 shares of company stock worth $1,805,416 in the last ninety days. 6.70% of the stock is currently owned by company insiders.

About Nexstar Media Group

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.