Swiss National Bank Has $9.52 Million Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Swiss National Bank cut its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 1.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,260 shares of the company’s stock after selling 600 shares during the quarter. Swiss National Bank owned approximately 0.19% of Nexstar Media Group worth $9,519,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. lifted its stake in shares of Nexstar Media Group by 27,180.2% in the 4th quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company’s stock valued at $190,650,000 after purchasing an additional 1,202,453 shares during the period. Proficio Capital Partners LLC bought a new stake in Nexstar Media Group during the 4th quarter worth approximately $35,560,000. Raymond James Financial Inc. bought a new stake in Nexstar Media Group during the 4th quarter worth approximately $8,402,000. World Investment Advisors LLC bought a new stake in Nexstar Media Group during the 3rd quarter worth approximately $3,747,000. Finally, SGL Investment Advisors Inc. bought a new stake in Nexstar Media Group during the 3rd quarter worth approximately $3,758,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group Trading Down 0.2 %

NASDAQ NXST opened at $176.99 on Friday. The stock’s 50-day simple moving average is $159.66 and its two-hundred day simple moving average is $164.06. Nexstar Media Group, Inc. has a twelve month low of $146.04 and a twelve month high of $191.86. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The company has a market capitalization of $5.40 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 0.45 and a beta of 1.47.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data on Thursday, February 27th. The company reported $7.56 EPS for the quarter, missing the consensus estimate of $9.22 by ($1.66). The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. Research analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a $1.86 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $7.44 annualized dividend and a dividend yield of 4.20%. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s payout ratio is currently 34.56%.

Insider Buying and Selling

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 750 shares of Nexstar Media Group stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $159.93, for a total transaction of $119,947.50. Following the sale, the director now directly owns 6,975 shares of the company’s stock, valued at approximately $1,115,511.75. The trade was a 9.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gary Weitman sold 1,241 shares of Nexstar Media Group stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $177.21, for a total value of $219,917.61. Following the sale, the insider now directly owns 3,975 shares in the company, valued at approximately $704,409.75. The trade was a 23.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 126,250 shares of company stock valued at $20,450,616 over the last ninety days. 6.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NXST has been the subject of several recent analyst reports. StockNews.com lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Guggenheim upped their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Benchmark upped their price objective on Nexstar Media Group from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Barrington Research reiterated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Finally, Loop Capital upgraded Nexstar Media Group from a “hold” rating to a “buy” rating and increased their target price for the stock from $190.00 to $200.00 in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and an average target price of $208.43.

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.