Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Swiss National Bank

Swiss National Bank lowered its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 5.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,160 shares of the company’s stock after selling 3,100 shares during the quarter. Swiss National Bank’s holdings in Nexstar Media Group were worth $10,244,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Deutsche Bank AG raised its holdings in Nexstar Media Group by 112.8% during the first quarter. Deutsche Bank AG now owns 7,345 shares of the company’s stock worth $1,316,000 after purchasing an additional 3,894 shares in the last quarter. Ontario Teachers Pension Plan Board raised its holdings in Nexstar Media Group by 6.0% during the first quarter. Ontario Teachers Pension Plan Board now owns 7,472 shares of the company’s stock worth $1,339,000 after purchasing an additional 424 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Nexstar Media Group by 3.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,138,064 shares of the company’s stock worth $203,964,000 after purchasing an additional 35,938 shares in the last quarter. ING Groep NV acquired a new position in shares of Nexstar Media Group in the 1st quarter valued at $1,649,000. Finally, SGL Investment Advisors Inc. increased its holdings in shares of Nexstar Media Group by 2.6% in the 1st quarter. SGL Investment Advisors Inc. now owns 23,160 shares of the company’s stock valued at $3,805,000 after acquiring an additional 576 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analysts Set New Price Targets

NXST has been the topic of a number of recent research reports. Benchmark lifted their target price on shares of Nexstar Media Group from $220.00 to $225.00 and gave the company a “buy” rating in a report on Friday, August 8th. Barrington Research lifted their target price on shares of Nexstar Media Group from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, August 11th. Wells Fargo & Company lifted their target price on shares of Nexstar Media Group from $206.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Finally, Zacks Research raised shares of Nexstar Media Group to a “hold” rating in a report on Friday, August 8th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $220.00.

Insider Activity

In other Nexstar Media Group news, COO Michael Biard sold 2,182 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $173.59, for a total transaction of $378,773.38. Following the sale, the chief operating officer directly owned 7,218 shares in the company, valued at approximately $1,252,972.62. The trade was a 23.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dana Zimmer sold 1,151 shares of the business’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $175.53, for a total transaction of $202,035.03. Following the sale, the insider owned 3,141 shares in the company, valued at $551,339.73. The trade was a 26.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,474 shares of company stock valued at $3,666,988. Corporate insiders own 6.70% of the company’s stock.

Nexstar Media Group Stock Performance

NASDAQ:NXST opened at $206.36 on Friday. The firm’s fifty day moving average price is $182.10 and its 200 day moving average price is $169.21. Nexstar Media Group, Inc. has a 1-year low of $141.66 and a 1-year high of $212.43. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.69 and a quick ratio of 1.74. The firm has a market cap of $6.26 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 1.57 and a beta of 1.05.

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

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Friday, August 15th. Nexstar Media Group’s dividend payout ratio (DPR) is 38.63%.

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.