JPMorgan Chase & Co. Has $83.52 Million Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

JPMorgan Chase & Co. decreased its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 3.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 505,127 shares of the company’s stock after selling 17,186 shares during the period. JPMorgan Chase & Co. owned about 1.63% of Nexstar Media Group worth $83,523,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Nexstar Media Group by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock valued at $220,189,000 after purchasing an additional 62,331 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in 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 buying an additional 7,117 shares in the last quarter. Copeland Capital Management LLC grew its position in Nexstar Media Group by 18.1% in the third quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock valued at $90,567,000 after acquiring an additional 83,829 shares during the last quarter. AQR Capital Management LLC raised its stake in Nexstar Media Group by 72.0% during the second quarter. AQR Capital Management LLC now owns 199,811 shares of the company’s stock worth $32,769,000 after acquiring an additional 83,637 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in shares of Nexstar Media Group by 6.1% in the third quarter. New York State Common Retirement Fund now owns 189,673 shares of the company’s stock worth $31,362,000 after acquiring an additional 10,938 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Nexstar Media Group Trading Up 0.8 %

Shares of NXST stock opened at $159.29 on Friday. Nexstar Media Group, Inc. has a 1-year low of $147.25 and a 1-year high of $191.86. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of 9.21, a PEG ratio of 0.20 and a beta of 1.45. The stock has a 50-day moving average of $167.43 and a 200-day moving average of $167.51.

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

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $1.69 per share. The ex-dividend date was Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a yield of 4.24%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 39.10%.

Analyst Ratings Changes

NXST has been the topic of several research reports. Loop Capital lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating and decreased their price target for the company from $200.00 to $190.00 in a report on Friday, November 8th. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Guggenheim cut their price objective on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, November 7th. Finally, Benchmark reissued a “buy” rating and set a $215.00 price target on shares of Nexstar Media Group in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $204.29.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, Director Bernadette S. Aulestia sold 500 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $164.45, for a total transaction of $82,225.00. Following the transaction, the director now directly owns 2,000 shares in the company, valued at approximately $328,900. This represents a 20.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Perry A. Sook sold 12,239 shares of Nexstar Media Group stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $190.28, for a total transaction of $2,328,836.92. Following the completion of the sale, the chief executive officer now owns 674,694 shares of the company’s stock, valued at $128,380,774.32. This represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 146,448 shares of company stock valued at $23,828,076. 6.30% of the stock is currently owned by insiders.

About Nexstar Media Group

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.