Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Bank of Montreal Can

Bank of Montreal Can cut its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 17.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 22,289 shares of the company’s stock after selling 4,551 shares during the period. Bank of Montreal Can’s holdings in Nexstar Media Group were worth $3,521,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NXST. Wealth Enhancement Advisory Services LLC increased its position in shares of Nexstar Media Group by 1.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company’s stock valued at $1,073,000 after buying an additional 68 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Nexstar Media Group by 15.3% in the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock worth $87,000 after acquiring an additional 73 shares in the last quarter. Davis Capital Management raised its position in Nexstar Media Group by 2.0% during the fourth quarter. Davis Capital Management now owns 6,270 shares of the company’s stock worth $990,000 after acquiring an additional 122 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in Nexstar Media Group by 5.8% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 2,518 shares of the company’s stock valued at $398,000 after purchasing an additional 137 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in shares of Nexstar Media Group by 1.4% in the fourth quarter. Harbor Capital Advisors Inc. now owns 10,127 shares of the company’s stock valued at $1,600,000 after purchasing an additional 140 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Stock Down 0.1 %

Shares of NXST opened at $152.40 on Wednesday. Nexstar Media Group, Inc. has a 52-week low of $143.32 and a 52-week high of $191.86. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The stock has a fifty day simple moving average of $163.70 and a two-hundred day simple moving average of $164.03. The company has a market capitalization of $4.65 billion, a PE ratio of 8.81, a price-to-earnings-growth ratio of 0.45 and a beta of 1.09.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.22 by ($1.66). The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. As a group, equities analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 4.88%. The ex-dividend date was Wednesday, February 12th. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s payout ratio is presently 34.56%.

Analysts Set New Price Targets

NXST has been the subject of several research analyst reports. Barrington Research restated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Wednesday, March 5th. StockNews.com downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Benchmark boosted their price target on Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Loop Capital upgraded Nexstar Media Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $190.00 to $200.00 in a report on Friday, February 28th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Monday, March 10th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.43.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, insider Gary Weitman sold 1,241 shares of Nexstar Media Group stock in a transaction on Friday, March 7th. The stock was sold at an average price of $177.21, for a total value of $219,917.61. Following the sale, the insider now owns 3,975 shares in the company, valued at $704,409.75. The trade was a 23.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew Alford sold 3,768 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.98, for a total value of $685,700.64. Following the transaction, the insider now owns 5,405 shares of the company’s stock, valued at approximately $983,601.90. This represents a 41.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,105 shares of company stock worth $6,722,463. Insiders own 6.30% of the company’s stock.

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.