Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 128.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,189 shares of the company’s stock after acquiring an additional 4,048 shares during the period. Hsbc Holdings PLC’s holdings in Nexstar Media Group were worth $1,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Capital Research Global Investors acquired a new stake in Nexstar Media Group during the 1st quarter worth $92,323,000. Point72 Asset Management L.P. boosted its position in Nexstar Media Group by 392.6% during the fourth quarter. Point72 Asset Management L.P. now owns 450,351 shares of the company’s stock worth $70,593,000 after acquiring an additional 358,920 shares during the last quarter. Vanguard Group Inc. grew its stake in Nexstar Media Group by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock valued at $580,689,000 after acquiring an additional 127,783 shares in the last quarter. Payden & Rygel Investment Group acquired a new stake in Nexstar Media Group in the 1st quarter valued at about $15,144,000. Finally, Global Assets Advisory LLC purchased a new position in Nexstar Media Group in the 1st quarter worth approximately $14,421,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, CFO Lee Ann Gliha sold 984 shares of the business’s stock in a transaction that occurred 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 approximately $1,277,906.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Michael Biard sold 2,458 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $169.28, for a total transaction of $416,090.24. Following the completion of the sale, the chief operating officer now owns 3,792 shares in the company, valued at $641,909.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Lee Ann Gliha sold 984 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold a total of 33,851 shares of company stock valued at $5,690,416 over the last 90 days. 5.90% of the stock is owned by corporate insiders.

Nexstar Media Group Stock Performance

Shares of NXST stock opened at $166.38 on Friday. The firm has a 50 day moving average of $168.52 and a two-hundred day moving average of $165.90. The stock has a market capitalization of $5.48 billion, a PE ratio of 14.08, a P/E/G ratio of 0.19 and a beta of 1.49. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 2.92. Nexstar Media Group, Inc. has a 52 week low of $132.30 and a 52 week high of $187.27.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, August 8th. The company reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the business posted $2.64 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, research analysts predict that Nexstar Media Group, Inc. will post 25.72 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts recently commented on NXST shares. Benchmark reiterated a “buy” rating and set a $225.00 price objective on shares of Nexstar Media Group in a research report on Friday, August 9th. StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Thursday. Barrington Research restated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, August 8th. Wells Fargo & Company reduced their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, August 9th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $201.67.

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.