M&T Bank Corp Has $353,000 Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

M&T Bank Corp cut its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 5.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,235 shares of the company’s stock after selling 133 shares during the quarter. M&T Bank Corp’s holdings in Nexstar Media Group were worth $353,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group acquired a new position in shares of Nexstar Media Group during the 3rd quarter worth approximately $25,000. SBI Securities Co. Ltd. bought a new stake in Nexstar Media Group in the 4th quarter valued at $25,000. True Wealth Design LLC bought a new stake in Nexstar Media Group in the 3rd quarter valued at $30,000. Wilmington Savings Fund Society FSB bought a new stake in Nexstar Media Group in the 3rd quarter valued at $33,000. Finally, Jones Financial Companies Lllp boosted its stake in Nexstar Media Group by 15.3% in the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock valued at $87,000 after purchasing an additional 73 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NXST shares. Loop Capital upgraded Nexstar Media Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $190.00 to $200.00 in a research note on Friday, February 28th. Guggenheim boosted their price target on Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Benchmark boosted their price target on Nexstar Media Group from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Rosenblatt Securities restated a “buy” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Monday, March 10th. Finally, Barrington Research reiterated 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 equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $208.43.

Nexstar Media Group Price Performance

Nexstar Media Group stock opened at $169.88 on Friday. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. Nexstar Media Group, Inc. has a 52 week low of $146.04 and a 52 week high of $191.86. The stock has a market capitalization of $5.18 billion, a P/E ratio of 9.83, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47. The stock has a fifty day moving average of $157.63 and a 200-day moving average of $163.83.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, February 27th. The company reported $7.56 EPS for the quarter, missing analysts’ consensus estimates of $9.22 by ($1.66). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.48 billion. On average, sell-side analysts expect that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a dividend of $1.86 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.38%. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s payout ratio is 34.56%.

Insider Transactions at Nexstar Media Group

In other news, Director Charles Thomas Mcmillen sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $169.51, for a total value of $339,020.00. Following the completion of the transaction, the director now owns 4,975 shares of the company’s stock, valued at $843,312.25. This represents a 28.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Gary Weitman sold 1,241 shares of the business’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 transaction of $219,917.61. Following the sale, the insider now directly owns 3,975 shares in the company, valued at $704,409.75. The trade was a 23.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 161,455 shares of company stock valued at $26,158,403. Corporate insiders own 6.30% of the company’s stock.

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.