Glenmede Trust Co. NA Has $13.90 Million Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Glenmede Trust Co. NA cut its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 84,055 shares of the company’s stock after selling 1,261 shares during the quarter. Glenmede Trust Co. NA owned approximately 0.27% of Nexstar Media Group worth $13,898,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Brooklyn Investment Group acquired a new stake in Nexstar Media Group in the 3rd quarter valued at about $25,000. Whittier Trust Co. bought a new position in Nexstar Media Group in the 2nd quarter worth approximately $27,000. Allspring Global Investments Holdings LLC lifted its holdings in Nexstar Media Group by 3,700.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock worth $44,000 after buying an additional 259 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Nexstar Media Group in the 3rd quarter valued at $44,000. Finally, GAMMA Investing LLC increased its stake in shares of Nexstar Media Group by 112.2% in the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock valued at $49,000 after buying an additional 156 shares during the period. 95.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Guggenheim decreased their price target on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a report on Friday, October 4th. StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Benchmark reissued a “buy” rating and set a $215.00 price target on shares of Nexstar Media Group in a research note on Friday, November 8th. Wells Fargo & Company reduced their price objective on shares of 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, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Two equities research 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.50.

Insiders Place Their Bets

In other news, insider Gary Weitman sold 7,261 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $164.80, for a total transaction of $1,196,612.80. Following the completion of the transaction, the insider now directly owns 5,216 shares of the company’s stock, valued at $859,596.80. This represents a 58.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles Thomas Mcmillen sold 1,000 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $160.00, for a total value of $160,000.00. Following the completion of the sale, the director now directly owns 7,975 shares in the company, valued at approximately $1,276,000. This represents a 11.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,423 shares of company stock worth $7,916,739. Company insiders own 6.30% of the company’s stock.

Nexstar Media Group Price Performance

Shares of NXST stock opened at $171.15 on Friday. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a 12-month low of $141.38 and a 12-month high of $191.86. The firm has a fifty day moving average of $169.16 and a 200-day moving average of $167.12. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of 9.90, a price-to-earnings-growth ratio of 0.20 and a beta of 1.48.

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

Nexstar Media Group Dividend Announcement

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 paid a dividend of $1.69 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a yield of 3.95%. Nexstar Media Group’s payout ratio is 39.10%.

About Nexstar Media Group

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.