Amalgamated Bank Sells 689 Shares of Nexstar Media Group, Inc. $NXST

Amalgamated Bank trimmed its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 5.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,106 shares of the company’s stock after selling 689 shares during the period. Amalgamated Bank’s holdings in Nexstar Media Group were worth $2,267,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Savvy Advisors Inc. bought a new stake in Nexstar Media Group in the second quarter worth about $252,000. Assetmark Inc. raised its position in Nexstar Media Group by 2.9% in the second quarter. Assetmark Inc. now owns 54,302 shares of the company’s stock worth $9,392,000 after acquiring an additional 1,513 shares during the period. Y Intercept Hong Kong Ltd raised its position in Nexstar Media Group by 32.6% in the second quarter. Y Intercept Hong Kong Ltd now owns 5,827 shares of the company’s stock worth $1,008,000 after acquiring an additional 1,432 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Nexstar Media Group by 12.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 88,725 shares of the company’s stock worth $15,345,000 after purchasing an additional 9,723 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Nexstar Media Group by 185.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,661 shares of the company’s stock worth $806,000 after purchasing an additional 3,029 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Nexstar Media Group Stock Performance

NASDAQ:NXST opened at $198.39 on Wednesday. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.69 and a current ratio of 1.69. Nexstar Media Group, Inc. has a 52-week low of $141.66 and a 52-week high of $223.36. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 1.40 and a beta of 1.01. The business’s fifty day moving average is $199.43 and its 200 day moving average is $184.80.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data on Thursday, August 7th. The company reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.95 by $0.11. Nexstar Media Group had a return on equity of 28.40% and a net margin of 11.90%.The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period in the previous year, the company posted $3.54 EPS. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. Research analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th will be issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, November 12th. Nexstar Media Group’s dividend payout ratio is 38.63%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NXST. Zacks Research raised shares of Nexstar Media Group to a “hold” rating in a report on Friday, August 8th. Wells Fargo & Company boosted their target price on Nexstar Media Group from $206.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Barrington Research restated an “outperform” rating and issued a $225.00 target price on shares of Nexstar Media Group in a research note on Tuesday, August 19th. Guggenheim boosted their price objective on Nexstar Media Group from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Finally, Benchmark boosted their price objective on Nexstar Media Group from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $225.00.

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.