Bruni J V & Co. Co. Sells 1,359 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Bruni J V & Co. Co. lowered its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 0.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 193,000 shares of the company’s stock after selling 1,359 shares during the quarter. Nexstar Media Group comprises approximately 3.6% of Bruni J V & Co. Co.’s holdings, making the stock its 13th largest holding. Bruni J V & Co. Co. owned 0.60% of Nexstar Media Group worth $31,913,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Nexstar Media Group by 3.9% in the first quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock valued at $580,689,000 after buying an additional 127,783 shares during the period. Cornercap Investment Counsel Inc. acquired a new stake in shares of Nexstar Media Group in the 2nd quarter valued at approximately $570,000. GSA Capital Partners LLP grew its holdings in Nexstar Media Group by 211.2% during the third quarter. GSA Capital Partners LLP now owns 6,195 shares of the company’s stock valued at $1,024,000 after purchasing an additional 4,204 shares during the period. Bessemer Group Inc. increased its stake in Nexstar Media Group by 24.3% in the first quarter. Bessemer Group Inc. now owns 81,875 shares of the company’s stock valued at $14,106,000 after purchasing an additional 15,982 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in Nexstar Media Group by 72.0% in the second quarter. AQR Capital Management LLC now owns 199,811 shares of the company’s stock worth $32,769,000 after purchasing an additional 83,637 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Insider Activity at Nexstar Media Group

In other news, insider Andrew Alford sold 3,175 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $167.82, for a total value of $532,828.50. Following the completion of the sale, the insider now owns 9,173 shares of the company’s stock, valued at approximately $1,539,412.86. The trade was a 25.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Rachel Morgan sold 6,196 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was 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. In the last quarter, insiders have sold 48,437 shares of company stock worth $8,429,561. Company insiders own 6.30% of the company’s stock.

Nexstar Media Group Price Performance

NASDAQ:NXST opened at $162.18 on Tuesday. The stock has a market capitalization of $5.03 billion, a PE ratio of 9.38, a P/E/G ratio of 0.19 and a beta of 1.48. 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 fifty day simple moving average of $168.61 and a 200 day simple moving average of $167.16. Nexstar Media Group, Inc. has a 1-year low of $141.38 and a 1-year high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.51 by ($0.24). The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter last year, the business posted $0.70 earnings per share. On average, research analysts expect that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group’s payout ratio is presently 39.10%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Loop Capital cut Nexstar Media Group from a “buy” rating to a “hold” rating and decreased their target price for the company from $200.00 to $190.00 in a research note on Friday, November 8th. Guggenheim dropped their price objective on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Benchmark reaffirmed a “buy” rating and issued a $215.00 target price on shares of Nexstar Media Group in a research note on Friday, November 8th. Wells Fargo & Company dropped their price target 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. Finally, Barrington Research reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Nexstar Media Group has an average rating of “Moderate Buy” and an average 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.