S. Muoio & CO. LLC Cuts Stake in Nexstar Media Group Inc (NASDAQ:NXST)
S. Muoio & CO. LLC decreased its position in Nexstar Media Group Inc (NASDAQ:NXST) by 8.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 48,113 shares of the company’s stock after selling 4,500 shares during the period. Nexstar Media Group makes up 2.2% of S. Muoio & CO. LLC’s portfolio, making the stock its 13th largest position. S. Muoio & CO. LLC owned approximately 0.11% of Nexstar Media Group worth $3,531,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC raised its holdings in Nexstar Media Group by 99.7% in the 1st quarter. SG Americas Securities LLC now owns 3,029 shares of the company’s stock valued at $201,000 after acquiring an additional 1,512 shares during the period. Fortaleza Asset Management Inc. boosted its position in shares of Nexstar Media Group by 148.0% during the 2nd quarter. Fortaleza Asset Management Inc. now owns 2,815 shares of the company’s stock worth $207,000 after acquiring an additional 1,680 shares in the last quarter. Zeke Capital Advisors LLC acquired a new stake in shares of Nexstar Media Group during the 2nd quarter worth approximately $211,000. Creative Planning acquired a new stake in shares of Nexstar Media Group during the 2nd quarter worth approximately $224,000. Finally, Stevens Capital Management LP acquired a new stake in shares of Nexstar Media Group during the 1st quarter worth approximately $273,000.
In other Nexstar Media Group news, insider Andrew Alford sold 1,000 shares of Nexstar Media Group stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $82.30, for a total value of $82,300.00. Following the sale, the insider now owns 370 shares of the company’s stock, valued at $30,451. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brian Jones sold 2,238 shares of Nexstar Media Group stock in a transaction dated Wednesday, June 27th. The stock was sold at an average price of $76.03, for a total transaction of $170,155.14. Following the completion of the sale, the insider now directly owns 10,500 shares in the company, valued at approximately $798,315. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,263 shares of company stock worth $409,555. 6.40% of the stock is owned by corporate insiders.
Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Wednesday, August 8th. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.14. Nexstar Media Group had a net margin of 22.07% and a return on equity of 17.28%. The firm had revenue of $660.30 million during the quarter, compared to analysts’ expectations of $657.92 million. During the same period last year, the company earned $0.91 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. equities research analysts anticipate that Nexstar Media Group Inc will post 8.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 24th. Investors of record on Friday, August 10th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.86%. The ex-dividend date was Thursday, August 9th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 37.69%.
Several analysts recently issued reports on NXST shares. B. Riley reduced their price target on shares of Nexstar Media Group to $87.00 and set a “buy” rating on the stock in a research report on Monday, May 21st. BidaskClub upgraded shares of Nexstar Media Group from a “sell” rating to a “hold” rating in a research report on Friday, June 8th. ValuEngine upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Wednesday, July 11th. Jefferies Financial Group reaffirmed a “buy” rating and set a $87.00 price target on shares of Nexstar Media Group in a research note on Tuesday, July 24th. Finally, Evercore ISI started coverage on shares of Nexstar Media Group in a research note on Tuesday, July 31st. They set an “in-line” rating and a $87.00 price target for the company. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $90.08.
About Nexstar Media Group
Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. It focuses on the acquisition, development, and operation of television stations and interactive community Websites in medium-sized markets. The company offers free over-the-air programming to television viewing audiences.
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