Bank of New York Mellon Corp Buys 19,116 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Bank of New York Mellon Corp raised its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 403,728 shares of the company’s stock after acquiring an additional 19,116 shares during the period. Bank of New York Mellon Corp owned approximately 1.30% of Nexstar Media Group worth $63,777,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Quartz Partners LLC increased its holdings in Nexstar Media Group by 6.5% in the 4th quarter. Quartz Partners LLC now owns 3,450 shares of the company’s stock valued at $545,000 after acquiring an additional 212 shares during the last quarter. Navellier & Associates Inc. increased its holdings in shares of Nexstar Media Group by 4.0% in the 4th quarter. Navellier & Associates Inc. now owns 19,063 shares of the company’s stock worth $3,011,000 after buying an additional 727 shares during the last quarter. Parcion Private Wealth LLC increased its holdings in shares of Nexstar Media Group by 3.7% in the 4th quarter. Parcion Private Wealth LLC now owns 32,261 shares of the company’s stock worth $5,096,000 after buying an additional 1,146 shares during the last quarter. Concurrent Investment Advisors LLC bought a new stake in shares of Nexstar Media Group in the 4th quarter worth about $209,000. Finally, Ieq Capital LLC increased its holdings in shares of Nexstar Media Group by 63.5% in the 4th quarter. Ieq Capital LLC now owns 2,887 shares of the company’s stock worth $456,000 after buying an additional 1,121 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Nexstar Media Group

In other news, CEO Perry A. Sook sold 52,808 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $157.41, for a total value of $8,312,507.28. Following the completion of the sale, the chief executive officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lisbeth Mcnabb sold 875 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $172.00, for a total transaction of $150,500.00. Following the completion of the sale, the director now directly owns 5,752 shares of the company’s stock, valued at $989,344. The trade was a 13.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,493 shares of company stock valued at $20,354,366 in the last three months. Company insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NXST. StockNews.com downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Monday. Barrington Research restated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, February 27th. Guggenheim boosted their target price on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Benchmark boosted their target price on shares of Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Loop Capital upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating and upped their price target for the company from $190.00 to $200.00 in a report on Friday, February 28th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.29.

Nexstar Media Group Price Performance

Nexstar Media Group stock opened at $169.75 on Wednesday. The stock has a market cap of $5.27 billion, a price-to-earnings ratio of 9.82, a price-to-earnings-growth ratio of 0.45 and a beta of 1.45. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. Nexstar Media Group, Inc. has a 1 year low of $146.04 and a 1 year high of $191.86. The firm has a 50-day moving average of $155.59 and a two-hundred day moving average of $163.55.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.22 by ($1.66). The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. On average, research analysts forecast 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 disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 4.38%. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date was Wednesday, February 12th. Nexstar Media Group’s payout ratio is 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.