Swiss National Bank Reduces Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Swiss National Bank lowered its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 7.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 60,860 shares of the company’s stock after selling 4,900 shares during the period. Swiss National Bank’s holdings in Nexstar Media Group were worth $10,063,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GSA Capital Partners LLP boosted its position in Nexstar Media Group by 211.2% during the third quarter. GSA Capital Partners LLP now owns 6,195 shares of the company’s stock worth $1,024,000 after purchasing an additional 4,204 shares during the period. Cornercap Investment Counsel Inc. bought a new position in Nexstar Media Group in the 2nd quarter worth approximately $570,000. AQR Capital Management LLC boosted its holdings in Nexstar Media Group by 72.0% in the 2nd quarter. AQR Capital Management LLC now owns 199,811 shares of the company’s stock worth $32,769,000 after buying an additional 83,637 shares during the period. Parcion Private Wealth LLC grew its stake in Nexstar Media Group by 13.4% in the 3rd quarter. Parcion Private Wealth LLC now owns 31,115 shares of the company’s stock valued at $5,145,000 after buying an additional 3,680 shares in the last quarter. Finally, Edgestream Partners L.P. raised its holdings in Nexstar Media Group by 513.0% during the 2nd quarter. Edgestream Partners L.P. now owns 36,421 shares of the company’s stock valued at $6,046,000 after acquiring an additional 30,480 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Nexstar Media Group Trading Up 0.4 %

Shares of NXST stock opened at $169.75 on Monday. The firm has a market cap of $5.27 billion, a P/E ratio of 9.82, a price-to-earnings-growth ratio of 0.20 and a beta of 1.48. The business has a 50-day moving average price of $168.98 and a two-hundred day moving average price of $167.16. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a 12-month low of $141.38 and a 12-month high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.51 by ($0.24). The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business’s quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.70 earnings per share. Equities analysts anticipate that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

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

Insider Buying and Selling at Nexstar Media Group

In other news, EVP Rachel Morgan sold 6,196 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $171.30, for a total transaction of $1,061,374.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Perry A. Sook sold 12,239 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $190.28, for a total value of $2,328,836.92. Following the completion of the sale, the chief executive officer now owns 674,694 shares in the company, valued at $128,380,774.32. The trade was a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,903 shares of company stock valued at $7,833,240 in the last 90 days. Insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

NXST has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a report on Friday, August 9th. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Loop Capital downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating and lowered their price target for the stock from $200.00 to $190.00 in a report on Friday, November 8th. Benchmark reaffirmed a “buy” rating and set a $215.00 price objective on shares of Nexstar Media Group in a research note on Friday, November 8th. Finally, Guggenheim lowered 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. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Nexstar Media Group has an average rating of “Moderate Buy” and an average price target of $198.50.

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.