Phocas Financial Corp. Has $1.20 Million Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Phocas Financial Corp. decreased its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 84.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,599 shares of the company’s stock after selling 41,811 shares during the period. Phocas Financial Corp.’s holdings in Nexstar Media Group were worth $1,200,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of NXST. BNP Paribas Financial Markets increased its stake in Nexstar Media Group by 67.8% in the third quarter. BNP Paribas Financial Markets now owns 26,239 shares of the company’s stock valued at $4,339,000 after purchasing an additional 10,603 shares in the last quarter. SGL Investment Advisors Inc. acquired a new position in Nexstar Media Group during the 3rd quarter worth approximately $3,758,000. Charles Schwab Investment Management Inc. raised its stake in Nexstar Media Group by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company’s stock worth $179,149,000 after buying an additional 7,117 shares during the period. Quest Partners LLC increased its holdings in shares of Nexstar Media Group by 661.4% during the third quarter. Quest Partners LLC now owns 8,672 shares of the company’s stock valued at $1,434,000 after acquiring an additional 7,533 shares in the last quarter. Finally, Holocene Advisors LP raised its position in shares of Nexstar Media Group by 680.9% during the third quarter. Holocene Advisors LP now owns 17,219 shares of the company’s stock worth $2,847,000 after purchasing an additional 15,014 shares during the period. Institutional investors own 95.30% of the company’s stock.

Insider Buying and Selling

In other Nexstar Media Group news, Director Lisbeth Mcnabb sold 875 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $172.00, for a total value of $150,500.00. Following the completion of the sale, the director now directly owns 5,752 shares of the company’s stock, valued at $989,344. This trade represents a 13.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Perry A. Sook sold 52,808 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $157.41, for a total value of $8,312,507.28. Following the transaction, the chief executive officer now owns 674,694 shares of the company’s stock, valued at $106,203,582.54. The trade was a 7.26 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 127,493 shares of company stock valued at $20,354,366. 6.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on NXST. Benchmark restated a “buy” rating and set a $215.00 price target on shares of Nexstar Media Group in a research note on Friday, November 8th. Loop Capital cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating and dropped their price target for the company from $200.00 to $190.00 in a research report on Friday, November 8th. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Barrington Research restated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, November 7th. Finally, Guggenheim reiterated a “buy” rating on shares of Nexstar Media Group in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $204.29.

Nexstar Media Group Stock Performance

Shares of NXST opened at $149.23 on Wednesday. The stock has a 50 day moving average of $155.22 and a 200 day moving average of $163.41. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of 8.63, a PEG ratio of 0.45 and a beta of 1.45. Nexstar Media Group, Inc. has a 12 month low of $147.13 and a 12 month high of $191.86. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.99%. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date is Wednesday, February 12th. Nexstar Media Group’s payout ratio is presently 43.03%.

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.