Phocas Financial Corp. cut its holdings in shares of Nexstar Media Group Inc (NASDAQ:NXST) by 1.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 203,362 shares of the company’s stock after selling 2,256 shares during the period. Nexstar Media Group comprises about 2.2% of Phocas Financial Corp.’s portfolio, making the stock its biggest position. Phocas Financial Corp. owned about 0.44% of Nexstar Media Group worth $22,038,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of NXST. Teza Capital Management LLC purchased a new stake in shares of Nexstar Media Group during the first quarter worth approximately $520,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Nexstar Media Group during the first quarter worth approximately $603,000. Private Management Group Inc. raised its position in Nexstar Media Group by 3.6% in the first quarter. Private Management Group Inc. now owns 238,063 shares of the company’s stock worth $25,799,000 after acquiring an additional 8,246 shares in the last quarter. Jennison Associates LLC raised its position in Nexstar Media Group by 19.0% in the first quarter. Jennison Associates LLC now owns 12,880 shares of the company’s stock worth $1,396,000 after acquiring an additional 2,060 shares in the last quarter. Finally, GAM Holding AG raised its position in Nexstar Media Group by 17.5% in the first quarter. GAM Holding AG now owns 7,777 shares of the company’s stock worth $843,000 after acquiring an additional 1,160 shares in the last quarter.
NASDAQ:NXST traded up $0.84 during mid-day trading on Friday, reaching $101.00. The company’s stock had a trading volume of 5,431,468 shares, compared to its average volume of 432,823. The stock’s fifty day moving average price is $102.58. The company has a market cap of $4.62 billion, a PE ratio of 11.83, a P/E/G ratio of 1.52 and a beta of 1.60. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.73 and a current ratio of 1.73. Nexstar Media Group Inc has a twelve month low of $70.09 and a twelve month high of $119.93.
In related news, Director Dennis Miller sold 625 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $102.17, for a total transaction of $63,856.25. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 6.40% of the company’s stock.
Several research firms have weighed in on NXST. ValuEngine lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. BidaskClub lowered Nexstar Media Group from a “hold” rating to a “sell” rating in a report on Monday, June 10th. Zacks Investment Research raised Nexstar Media Group from a “sell” rating to a “hold” rating in a research note on Thursday, May 16th. B. Riley set a $139.00 price objective on Nexstar Media Group and gave the company a “buy” rating in a research note on Tuesday, May 14th. Finally, Barrington Research reaffirmed a “buy” rating and set a $135.00 price objective on shares of Nexstar Media Group in a research note on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $113.13.
About Nexstar Media Group
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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