Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 9.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,002 shares of the company’s stock after acquiring an additional 691 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Nexstar Media Group were worth $1,264,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in NXST. Pacer Advisors Inc. boosted its stake in shares of Nexstar Media Group by 27,180.2% during the fourth quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company’s stock valued at $190,650,000 after acquiring an additional 1,202,453 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Nexstar Media Group during the fourth quarter valued at $35,560,000. Raymond James Financial Inc. acquired a new stake in shares of Nexstar Media Group during the fourth quarter valued at $8,402,000. Payden & Rygel boosted its stake in shares of Nexstar Media Group by 40.4% during the third quarter. Payden & Rygel now owns 110,200 shares of the company’s stock valued at $18,222,000 after acquiring an additional 31,700 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new stake in shares of Nexstar Media Group during the third quarter valued at $3,747,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Insider Activity at Nexstar Media Group

In related news, CEO Perry A. Sook sold 52,808 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $157.41, for a total transaction of $8,312,507.28. Following the sale, the chief executive officer now directly owns 674,694 shares in the company, valued at approximately $106,203,582.54. This trade represents a 7.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Lee Ann Gliha sold 330 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $158.23, for a total value of $52,215.90. Following the sale, the chief financial officer now owns 8,610 shares in the company, valued at approximately $1,362,360.30. The trade was a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 126,250 shares of company stock worth $20,450,616. 6.30% of the stock is currently owned by company insiders.

Nexstar Media Group Stock Performance

Nexstar Media Group stock opened at $174.52 on Wednesday. The stock’s 50-day moving average is $158.29 and its 200-day moving average is $163.82. The company has a market cap of $5.32 billion, a price-to-earnings ratio of 10.09, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. Nexstar Media Group, Inc. has a 12 month low of $146.04 and a 12 month high of $191.86.

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

Nexstar Media Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a dividend of $1.86 per share. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. This represents a $7.44 annualized dividend and a dividend yield of 4.26%. The ex-dividend date was Wednesday, February 12th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 34.56%.

Analyst Ratings Changes

A number of brokerages have issued reports on NXST. StockNews.com lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Benchmark raised their price target on Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Guggenheim raised their price target on Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Barrington Research reissued an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Monday, March 10th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $208.43.

Nexstar Media Group Company 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.