Kovitz Investment Group Partners LLC Trims Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Kovitz Investment Group Partners LLC lessened its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 13.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,328 shares of the company’s stock after selling 982 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Nexstar Media Group were worth $1,000,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in NXST. SBI Securities Co. Ltd. acquired a new stake in shares of Nexstar Media Group in the 4th quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB purchased a new position in Nexstar Media Group in the third quarter valued at approximately $33,000. Jones Financial Companies Lllp lifted its position in Nexstar Media Group by 15.3% during the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock worth $87,000 after acquiring an additional 73 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Nexstar Media Group by 99.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 786 shares of the company’s stock valued at $124,000 after acquiring an additional 392 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its position in shares of Nexstar Media Group by 31.0% in the 4th quarter. Venturi Wealth Management LLC now owns 883 shares of the company’s stock worth $139,000 after acquiring an additional 209 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Price Performance

Nexstar Media Group stock opened at $150.20 on Wednesday. The business has a 50-day moving average of $163.06 and a 200-day moving average of $162.96. 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 market capitalization of $4.58 billion, a P/E ratio of 8.69, a PEG ratio of 0.45 and a beta of 1.09. Nexstar Media Group, Inc. has a 1 year low of $143.32 and a 1 year high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, February 27th. The company reported $7.56 earnings per share for the quarter, missing the consensus estimate of $9.22 by ($1.66). The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.48 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. On average, equities analysts anticipate that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Perry A. Sook sold 32,096 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $170.67, for a total value of $5,477,824.32. Following the completion of the sale, the chief executive officer now directly owns 806,019 shares of the company’s stock, valued at $137,563,262.73. The trade was a 3.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Gary Weitman sold 1,241 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $177.21, for a total value of $219,917.61. Following the completion of the sale, the insider now directly owns 3,975 shares of the company’s stock, valued at approximately $704,409.75. This trade represents a 23.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,105 shares of company stock worth $6,722,463 in the last quarter. 6.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Guggenheim increased their price objective on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Rosenblatt Securities restated a “buy” rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Monday, March 10th. Benchmark raised their price objective on shares of Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Loop Capital raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $190.00 to $200.00 in a research report on Friday, February 28th. Finally, StockNews.com downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $208.43.

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.