Penn Capital Management Co. Inc. lessened its holdings in shares of Nexstar Media Group Inc (NASDAQ:NXST) by 17.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 117,565 shares of the company’s stock after selling 24,785 shares during the quarter. Nexstar Media Group makes up approximately 1.6% of Penn Capital Management Co. Inc.’s investment portfolio, making the stock its largest position. Penn Capital Management Co. Inc.’s holdings in Nexstar Media Group were worth $17,127,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in NXST. Legacy Bridge LLC bought a new stake in shares of Nexstar Media Group during the first quarter worth approximately $26,000. Penserra Capital Management LLC bought a new stake in shares of Nexstar Media Group during the fourth quarter worth approximately $28,000. Private Capital Group LLC boosted its stake in shares of Nexstar Media Group by 46.3% in the first quarter. Private Capital Group LLC now owns 392 shares of the company’s stock valued at $42,000 after buying an additional 124 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Nexstar Media Group in the first quarter valued at approximately $66,000. Finally, Fort L.P. bought a new stake in shares of Nexstar Media Group in the fourth quarter valued at approximately $77,000.

Several equities research analysts recently issued reports on the company. B. Riley boosted their price target on Nexstar Media Group from $123.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. BidaskClub cut Nexstar Media Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 3rd. Benchmark reiterated a “buy” rating and issued a $120.00 price target (up from $115.00) on shares of Nexstar Media Group in a research note on Thursday, March 21st. Zacks Investment Research cut Nexstar Media Group from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. Finally, ValuEngine upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Thursday, February 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $113.13.

NASDAQ NXST traded down $0.75 on Wednesday, hitting $104.26. 1,038 shares of the company’s stock were exchanged, compared to its average volume of 457,622. The stock has a market capitalization of $4.90 billion, a PE ratio of 12.24, a PEG ratio of 1.59 and a beta of 1.58. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.73 and a quick ratio of 1.73. Nexstar Media Group Inc has a 52 week low of $65.20 and a 52 week high of $119.93.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $1.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.17 by ($0.02). The company had revenue of $626.65 million during the quarter, compared to analyst estimates of $640.35 million. Nexstar Media Group had a net margin of 14.26% and a return on equity of 23.08%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.01 earnings per share. As a group, sell-side analysts expect that Nexstar Media Group Inc will post 6.67 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.80 dividend on an annualized basis and a yield of 1.73%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 21.08%.

In other news, EVP Blake Russell sold 3,000 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $107.28, for a total transaction of $321,840.00. Following the transaction, the executive vice president now owns 26,350 shares of the company’s stock, valued at approximately $2,826,828. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dennis Miller sold 3,125 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $108.61, for a total transaction of $339,406.25. The disclosure for this sale can be found here. Insiders have sold 48,573 shares of company stock worth $5,142,132 in the last ninety days. Insiders own 6.40% of the company’s stock.

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Nexstar Media Group Company Profile

Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. The company focuses on the acquisition, development, and operation of television stations and interactive community Websites in small and medium-sized markets. It offers free over-the-air programming to television viewing audiences.

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Institutional Ownership by Quarter for Nexstar Media Group (NASDAQ:NXST)

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