Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Amundi

Amundi lessened its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 53.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 284 shares of the company’s stock after selling 322 shares during the period. Amundi’s holdings in Nexstar Media Group were worth $45,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its position in Nexstar Media Group by 41.9% during the 3rd quarter. Victory Capital Management Inc. now owns 20,571 shares of the company’s stock worth $3,401,000 after purchasing an additional 6,071 shares during the period. Natixis Advisors LLC increased its position in Nexstar Media Group by 1.2% during the 3rd quarter. Natixis Advisors LLC now owns 10,185 shares of the company’s stock worth $1,684,000 after purchasing an additional 117 shares during the period. Pathstone Holdings LLC increased its position in Nexstar Media Group by 6.7% during the 3rd quarter. Pathstone Holdings LLC now owns 22,009 shares of the company’s stock worth $3,639,000 after purchasing an additional 1,388 shares during the period. Advisors Asset Management Inc. increased its position in Nexstar Media Group by 46.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 21,908 shares of the company’s stock worth $3,622,000 after purchasing an additional 6,984 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Nexstar Media Group by 5.8% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 111,905 shares of the company’s stock worth $18,504,000 after purchasing an additional 6,101 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Insider Activity at Nexstar Media Group

In related news, insider Gary Weitman sold 1,241 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $177.21, for a total value of $219,917.61. Following the sale, the insider now owns 3,975 shares of the company’s stock, valued at approximately $704,409.75. This represents a 23.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles Thomas Mcmillen sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $169.51, for a total value of $339,020.00. Following the completion of the sale, the director now directly owns 4,975 shares in the company, valued at approximately $843,312.25. The trade was a 28.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 126,250 shares of company stock valued at $20,450,616. 6.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on NXST. StockNews.com cut Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Monday, March 10th. Guggenheim boosted their target price on Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Barrington Research reissued an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Finally, Loop Capital raised Nexstar Media Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $190.00 to $200.00 in a research note on Friday, February 28th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.43.

Nexstar Media Group Price Performance

Shares of NASDAQ:NXST opened at $176.99 on Friday. The business’s 50 day simple moving average is $159.66 and its 200-day simple moving average is $164.04. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of 10.24, a price-to-earnings-growth 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. Nexstar Media Group, Inc. has a 12 month low of $146.04 and a 12 month high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) 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 company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.48 billion. As a group, equities analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Increases Dividend

The business also recently announced 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 was Wednesday, February 12th. This represents a $7.44 dividend on an annualized basis and a yield of 4.20%. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s dividend payout ratio is presently 34.56%.

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.