Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 4.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,804 shares of the company’s stock after selling 1,416 shares during the period. Bank of Montreal Can owned 0.09% of Nexstar Media Group worth $5,116,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. King Luther Capital Management Corp raised its stake in shares of Nexstar Media Group by 2.8% during the second quarter. King Luther Capital Management Corp now owns 34,331 shares of the company’s stock valued at $5,699,000 after purchasing an additional 944 shares in the last quarter. Bridges Investment Management Inc. acquired a new position in shares of Nexstar Media Group during the second quarter valued at approximately $498,000. XTX Topco Ltd acquired a new stake in Nexstar Media Group in the second quarter worth approximately $1,504,000. Seven Eight Capital LP increased its position in shares of Nexstar Media Group by 150.3% during the 2nd quarter. Seven Eight Capital LP now owns 5,959 shares of the company’s stock valued at $989,000 after purchasing an additional 3,578 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in shares of Nexstar Media Group by 128.9% in the second quarter. Hsbc Holdings PLC now owns 7,189 shares of the company’s stock valued at $1,191,000 after buying an additional 4,048 shares during the period. Institutional investors own 95.30% of the company’s stock.

Insider Buying and Selling

In other Nexstar Media Group news, insider Gary Weitman sold 7,261 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $164.80, for a total transaction of $1,196,612.80. Following the transaction, the insider now owns 5,216 shares in the company, valued at $859,596.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Gary Weitman sold 7,261 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $164.80, for a total transaction of $1,196,612.80. Following the completion of the sale, the insider now directly owns 5,216 shares of the company’s stock, valued at approximately $859,596.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Lee Ann Gliha sold 984 shares of the firm’s stock in a transaction 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. In the last ninety days, insiders sold 41,112 shares of company stock worth $6,887,029. 5.90% of the stock is currently owned by insiders.

Nexstar Media Group Stock Performance

NXST stock opened at $164.82 on Wednesday. The company has a market capitalization of $5.43 billion, a price-to-earnings ratio of 13.94, a P/E/G ratio of 0.19 and a beta of 1.49. The firm has a 50 day moving average of $168.28 and a two-hundred day moving average of $165.87. 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 12 month low of $132.30 and a 12 month high of $187.27.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data 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 return on equity of 18.65% and a net margin of 8.68%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the company posted $2.64 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities analysts anticipate that Nexstar Media Group, Inc. will post 25.72 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend was Friday, August 9th. Nexstar Media Group’s payout ratio is 57.19%.

Analyst Ratings Changes

NXST has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Benchmark restated a “buy” rating and set a $225.00 target price on shares of Nexstar Media Group in a report on Friday, August 9th. Barrington Research reiterated 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 price objective on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Finally, StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Thursday, September 26th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $201.67.

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.