Nexstar Media Group, Inc. (NASDAQ:NXST) Stock Position Raised by BNP Paribas Financial Markets

BNP Paribas Financial Markets boosted its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 116.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,384 shares of the company’s stock after acquiring an additional 16,338 shares during the period. BNP Paribas Financial Markets owned about 0.09% of Nexstar Media Group worth $5,235,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NXST. EverSource Wealth Advisors LLC lifted its holdings in shares of Nexstar Media Group by 632.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock worth $32,000 after purchasing an additional 177 shares during the last quarter. First United Bank & Trust bought a new stake in Nexstar Media Group in the fourth quarter valued at $33,000. SRS Capital Advisors Inc. boosted its holdings in shares of Nexstar Media Group by 350.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 239 shares of the company’s stock valued at $37,000 after acquiring an additional 186 shares during the period. OLD Second National Bank of Aurora bought a new position in Nexstar Media Group in the 4th quarter worth about $45,000. Finally, Quadrant Capital Group LLC raised its holdings in shares of Nexstar Media Group by 41.1% during the fourth quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock valued at $46,000 after buying an additional 86 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NXST has been the topic of several recent analyst reports. Loop Capital raised Nexstar Media Group to a “strong-buy” rating in a research note on Friday, May 10th. Barrington Research restated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, May 9th. Benchmark restated a “buy” rating and set a $225.00 price target on shares of Nexstar Media Group in a research report on Thursday, June 20th. Finally, Wells Fargo & Company raised shares of Nexstar Media Group from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $190.00 to $221.00 in a research note on Monday, May 13th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Nexstar Media Group presently has an average rating of “Moderate Buy” and an average target price of $203.67.

Insiders Place Their Bets

In related news, insider Gary Weitman sold 522 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $149.08, for a total value of $77,819.76. Following the completion of the sale, the insider now owns 12,477 shares in the company, valued at approximately $1,860,071.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Gary Weitman sold 522 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $149.08, for a total value of $77,819.76. Following the completion of the sale, the insider now directly owns 12,477 shares of the company’s stock, valued at approximately $1,860,071.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Blake Russell sold 433 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $167.43, for a total value of $72,497.19. Following the completion of the transaction, the executive vice president now owns 25,537 shares in the company, valued at approximately $4,275,659.91. The disclosure for this sale can be found here. Insiders sold a total of 6,826 shares of company stock worth $1,080,597 over the last ninety days. 5.90% of the stock is currently owned by company insiders.

Nexstar Media Group Trading Up 2.3 %

Shares of NASDAQ:NXST opened at $174.87 on Friday. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.80 and a current ratio of 1.80. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 0.62 and a beta of 1.50. Nexstar Media Group, Inc. has a 1-year low of $132.30 and a 1-year high of $187.32. The company has a 50 day moving average price of $162.69 and a 200 day moving average price of $165.09.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data on Thursday, May 9th. The company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.28 by $0.88. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. Nexstar Media Group had a return on equity of 17.18% and a net margin of 8.29%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company posted $2.97 EPS. On average, research analysts anticipate that Nexstar Media Group, Inc. will post 27.62 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were paid a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend was Thursday, May 9th. Nexstar Media Group’s dividend payout ratio is presently 57.19%.

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.