Swiss National Bank Sells 600 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Swiss National Bank reduced its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 1.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 60,260 shares of the company’s stock after selling 600 shares during the period. Swiss National Bank’s holdings in Nexstar Media Group were worth $9,519,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its stake in Nexstar Media Group by 9.8% during the 4th quarter. Farther Finance Advisors LLC now owns 4,802 shares of the company’s stock valued at $759,000 after buying an additional 429 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Nexstar Media Group by 8.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 4,173 shares of the company’s stock worth $659,000 after buying an additional 339 shares during the period. Inspire Advisors LLC bought a new position in Nexstar Media Group in the 4th quarter worth $203,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Nexstar Media Group by 9.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,002 shares of the company’s stock worth $1,264,000 after buying an additional 691 shares during the period. Finally, Capital Management Corp VA boosted its holdings in shares of Nexstar Media Group by 13.4% during the 4th quarter. Capital Management Corp VA now owns 184,001 shares of the company’s stock valued at $29,067,000 after purchasing an additional 21,706 shares during the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Nexstar Media Group Trading Down 0.2 %

Shares of Nexstar Media Group stock opened at $176.99 on Friday. 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 firm has a fifty day moving average price of $159.66 and a 200 day moving average price of $164.06. Nexstar Media Group, Inc. has a 1 year low of $146.04 and a 1 year high of $191.86. The stock has a market cap of $5.40 billion, a PE ratio of 10.24, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47.

Nexstar Media Group (NASDAQ:NXST) last released 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 net margin of 11.39% and a return on equity of 26.03%. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Equities research analysts predict 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. Stockholders of record on Wednesday, February 12th were given a $1.86 dividend. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.44 annualized dividend and a dividend yield of 4.20%. Nexstar Media Group’s dividend payout ratio (DPR) is 34.56%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Benchmark increased their price objective on shares of Nexstar Media Group from $200.00 to $225.00 and gave the company a “buy” rating in a report on Friday, February 28th. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Monday, March 10th. Guggenheim increased 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 report on Friday, February 28th. StockNews.com lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, Barrington Research reaffirmed an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Wednesday, March 5th. 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $208.43.

Insider Activity

In related news, CEO Perry A. Sook sold 52,808 shares of the business’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 transaction, the chief executive officer now directly owns 674,694 shares in the company, valued at approximately $106,203,582.54. The trade was a 7.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Charles Thomas Mcmillen sold 750 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $159.93, for a total transaction of $119,947.50. Following the transaction, the director now owns 6,975 shares in the company, valued at $1,115,511.75. The trade was a 9.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 126,250 shares of company stock worth $20,450,616 over the last 90 days. 6.30% of the stock is currently 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.