3,000 Shares in Nexstar Media Group, Inc. (NASDAQ:NXST) Acquired by Bridges Investment Management Inc.

Bridges Investment Management Inc. acquired a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,000 shares of the company’s stock, valued at approximately $498,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Nexstar Media Group by 3.9% during the first quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock worth $580,689,000 after acquiring an additional 127,783 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Nexstar Media Group by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock worth $220,189,000 after acquiring an additional 62,331 shares during the last quarter. Capital Research Global Investors acquired a new stake in Nexstar Media Group during the first quarter worth $92,323,000. Point72 Asset Management L.P. lifted its position in Nexstar Media Group by 392.6% in the fourth quarter. Point72 Asset Management L.P. now owns 450,351 shares of the company’s stock valued at $70,593,000 after buying an additional 358,920 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Nexstar Media Group by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 418,815 shares of the company’s stock worth $69,528,000 after buying an additional 2,145 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insider Activity

In related news, CFO Lee Ann Gliha sold 984 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total transaction of $155,107.92. Following the completion of the transaction, the chief financial officer now owns 8,107 shares in the company, valued at $1,277,906.41. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Lee Ann Gliha sold 984 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total transaction of $155,107.92. Following the completion of the sale, the chief financial officer now owns 8,107 shares in the company, valued at $1,277,906.41. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jay M. Grossman sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $170.70, for a total value of $1,707,000.00. Following the completion of the transaction, the director now directly owns 54,625 shares of the company’s stock, valued at $9,324,487.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,426 shares of company stock worth $5,116,478. 5.90% of the stock is currently owned by corporate insiders.

Nexstar Media Group Stock Down 0.8 %

Nexstar Media Group stock opened at $166.40 on Friday. Nexstar Media Group, Inc. has a twelve month low of $132.30 and a twelve month high of $187.27. The stock’s fifty day simple moving average is $169.72 and its 200-day simple moving average is $165.84. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 2.92. The firm has a market capitalization of $5.48 billion, a P/E ratio of 14.08, a P/E/G ratio of 0.18 and a beta of 1.49.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the company posted $2.64 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts expect that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date was Friday, August 9th. Nexstar Media Group’s dividend payout ratio is currently 57.19%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Benchmark reissued a “buy” rating and issued a $225.00 price target on shares of Nexstar Media Group in a research note on Friday, August 9th. Barrington Research reissued an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, August 8th. Wells Fargo & Company cut their target price on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft cut their target price on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, StockNews.com lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Nexstar Media Group currently has an average rating of “Moderate Buy” and an average target price of $201.67.

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.