Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 125,298 shares of the company’s stock after selling 6,931 shares during the period. PNC Financial Services Group Inc. owned approximately 0.40% of Nexstar Media Group worth $19,793,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of NXST. Brooklyn Investment Group acquired a new position in Nexstar Media Group in the 3rd quarter worth approximately $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of Nexstar Media Group in the fourth quarter worth $25,000. True Wealth Design LLC purchased a new position in shares of Nexstar Media Group during the third quarter worth $30,000. Wilmington Savings Fund Society FSB acquired a new position in Nexstar Media Group during the third quarter valued at $33,000. Finally, Capital Performance Advisors LLP purchased a new stake in Nexstar Media Group in the third quarter valued at $44,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NXST. Benchmark lifted their price objective on Nexstar Media Group from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Monday. Loop Capital upgraded Nexstar Media Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $190.00 to $200.00 in a research report on Friday, February 28th. Guggenheim raised their price objective on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, StockNews.com cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $208.43.

Insider Buying and Selling

In other news, Director Bernadette S. Aulestia sold 500 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were 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 approximately $328,900. This trade represents a 20.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Perry A. Sook sold 52,808 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were 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 of the company’s stock, valued at approximately $106,203,582.54. This represents a 7.26 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 161,955 shares of company stock worth $26,240,628. Insiders own 6.30% of the company’s stock.

Nexstar Media Group Trading Down 0.5 %

Shares of NXST stock opened at $176.94 on Tuesday. Nexstar Media Group, Inc. has a 1-year low of $146.04 and a 1-year high of $191.86. The company has a market cap of $5.40 billion, a price-to-earnings ratio of 10.23, a PEG 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. The stock has a 50 day simple moving average of $156.61 and a 200-day simple moving average of $163.71.

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

Nexstar Media Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a $1.86 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.69. This represents a $7.44 dividend on an annualized basis and a yield of 4.20%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 34.56%.

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.