Swiss National Bank Has $10.06 Million Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Swiss National Bank cut its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 7.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,860 shares of the company’s stock after selling 4,900 shares during the period. Swiss National Bank owned approximately 0.19% of Nexstar Media Group worth $10,063,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Whittier Trust Co. acquired a new position in shares of Nexstar Media Group during the 2nd quarter worth approximately $27,000. Allspring Global Investments Holdings LLC grew its position in Nexstar Media Group by 3,700.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock worth $44,000 after buying an additional 259 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Nexstar Media Group during the 3rd quarter worth $44,000. GAMMA Investing LLC raised its holdings in Nexstar Media Group by 112.2% in the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock valued at $49,000 after acquiring an additional 156 shares in the last quarter. Finally, Mascoma Wealth Management LLC acquired a new position in Nexstar Media Group in the 2nd quarter valued at $49,000. 95.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Andrew Alford sold 3,175 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $167.82, for a total transaction of $532,828.50. Following the transaction, the insider now owns 9,173 shares in the company, valued at approximately $1,539,412.86. This represents a 25.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary Weitman sold 7,261 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $164.80, for a total value of $1,196,612.80. Following the completion of the sale, the insider now owns 5,216 shares of the company’s stock, valued at approximately $859,596.80. This represents a 58.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,903 shares of company stock worth $7,833,240. Company insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NXST shares. StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Benchmark reiterated a “buy” rating and issued a $215.00 target price on shares of Nexstar Media Group in a research report on Friday, November 8th. Guggenheim decreased their target price on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Deutsche Bank Aktiengesellschaft lowered 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 report on Friday, August 9th. Finally, Loop Capital downgraded Nexstar Media Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $200.00 to $190.00 in a report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Nexstar Media Group presently has an average rating of “Moderate Buy” and a consensus price target of $198.50.

Nexstar Media Group Trading Up 0.4 %

Shares of NXST stock opened at $169.75 on Monday. The stock has a 50-day moving average of $168.98 and a 200-day moving average of $167.16. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. The stock has a market cap of $5.27 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 0.20 and a beta of 1.48. Nexstar Media Group, Inc. has a 1-year low of $141.38 and a 1-year high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the firm posted $0.70 EPS. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, equities research analysts forecast that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $1.69 per share. The ex-dividend date is Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a yield of 3.98%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 39.10%.

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.