Zurcher Kantonalbank Zurich Cantonalbank Has $1.23 Million Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,815 shares of the company’s stock after purchasing an additional 401 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Nexstar Media Group were worth $1,225,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new stake in Nexstar Media Group during the 3rd quarter worth approximately $65,000. Arlington Trust Co LLC bought a new stake in shares of Nexstar Media Group in the fourth quarter worth $81,000. Huntington National Bank increased its holdings in Nexstar Media Group by 95.2% in the third quarter. Huntington National Bank now owns 652 shares of the company’s stock valued at $93,000 after purchasing an additional 318 shares during the period. Covestor Ltd raised its position in Nexstar Media Group by 42.3% during the 3rd quarter. Covestor Ltd now owns 865 shares of the company’s stock worth $124,000 after purchasing an additional 257 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in Nexstar Media Group by 21.1% during the 4th quarter. Blue Trust Inc. now owns 906 shares of the company’s stock worth $130,000 after buying an additional 158 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Nexstar Media Group Price Performance

Nexstar Media Group stock opened at $158.92 on Friday. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 0.61 and a beta of 1.50. Nexstar Media Group, Inc. has a 52-week low of $132.30 and a 52-week high of $187.32. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.53 and a current ratio of 1.53. The stock’s 50 day moving average price is $165.27 and its two-hundred day moving average price is $158.96.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Wednesday, February 28th. The company reported $3.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.42 by ($1.10). The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.32 billion. Nexstar Media Group had a net margin of 7.03% and a return on equity of 14.06%. The firm’s revenue was down 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $8.04 EPS. On average, equities analysts predict that Nexstar Media Group, Inc. will post 26.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. TheStreet upgraded Nexstar Media Group from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Barrington Research restated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, March 7th. Finally, Rosenblatt Securities reduced their price objective on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $193.83.

Insider Activity

In other news, CEO Perry A. Sook sold 31,758 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $158.66, for a total value of $5,038,724.28. Following the completion of the sale, the chief executive officer now directly owns 636,788 shares in the company, valued at approximately $101,032,784.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Perry A. Sook sold 31,758 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $158.66, for a total transaction of $5,038,724.28. Following the transaction, the chief executive officer now directly owns 636,788 shares of the company’s stock, valued at $101,032,784.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Strober sold 1,000 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $167.49, for a total value of $167,490.00. Following the completion of the transaction, the executive vice president now owns 1,076 shares in the company, valued at $180,219.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,508 shares of company stock worth $7,487,950. Company insiders own 5.90% of the company’s stock.

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.