Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by State Street Corp

State Street Corp reduced its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 0.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 959,107 shares of the company’s stock after selling 3,674 shares during the quarter. State Street Corp owned about 3.09% of Nexstar Media Group worth $158,588,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. BNP Paribas Financial Markets boosted its holdings in shares of 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 acquiring an additional 10,603 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Nexstar Media Group by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company’s stock valued at $179,149,000 after acquiring an additional 7,117 shares during the period. Quest Partners LLC boosted its holdings in shares of Nexstar Media Group by 661.4% in 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 during the period. Holocene Advisors LP boosted its holdings in shares of Nexstar Media Group by 680.9% in the third quarter. Holocene Advisors LP now owns 17,219 shares of the company’s stock valued at $2,847,000 after acquiring an additional 15,014 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Nexstar Media Group by 5.8% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 111,905 shares of the company’s stock valued at $18,504,000 after acquiring an additional 6,101 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Benchmark reissued a “buy” rating and issued a $215.00 price objective on shares of Nexstar Media Group in a report on Friday, November 8th. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, November 7th. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Loop Capital downgraded Nexstar Media Group from a “buy” rating to a “hold” rating and decreased their price target for the stock from $200.00 to $190.00 in a report on Friday, November 8th. Finally, Guggenheim decreased their price target on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a report on Friday, October 4th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Nexstar Media Group currently has an average rating of “Moderate Buy” and an average target price of $204.29.

Nexstar Media Group Price Performance

Nexstar Media Group stock opened at $164.60 on Friday. Nexstar Media Group, Inc. has a one year low of $147.25 and a one year high of $191.86. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The business has a fifty day moving average of $170.11 and a two-hundred day moving average of $167.33. The company has a market cap of $5.11 billion, a P/E ratio of 9.52, a price-to-earnings-growth ratio of 0.20 and a beta of 1.45.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the business posted $0.70 EPS. Nexstar Media Group’s revenue was up 20.7% compared to the same quarter last year. As a group, analysts predict that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date of this dividend was Friday, November 15th. Nexstar Media Group’s dividend payout ratio (DPR) is currently 39.10%.

Insider Buying and Selling at Nexstar Media Group

In other news, CEO Perry A. Sook sold 12,239 shares of Nexstar Media Group stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $190.28, for a total transaction of $2,328,836.92. Following the completion of the transaction, the chief executive officer now owns 674,694 shares of the company’s stock, valued at $128,380,774.32. The trade was a 1.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Bernadette S. Aulestia sold 500 shares of Nexstar Media Group stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $164.45, for a total value of $82,225.00. Following the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at $328,900. This trade represents a 20.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,798 shares of company stock valued at $7,989,464. 6.30% of the stock is owned by company insiders.

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.