Zions Bancorporation N.A. Purchases 2,155 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Zions Bancorporation N.A. raised its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 17.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,381 shares of the company’s stock after acquiring an additional 2,155 shares during the quarter. Zions Bancorporation N.A.’s holdings in Nexstar Media Group were worth $2,272,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Nexstar Media Group by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company’s stock worth $1,073,000 after acquiring an additional 68 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Nexstar Media Group by 15.3% during the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock worth $87,000 after purchasing an additional 73 shares in the last quarter. Natixis Advisors LLC lifted its holdings in shares of Nexstar Media Group by 1.2% during the 3rd quarter. Natixis Advisors LLC now owns 10,185 shares of the company’s stock valued at $1,684,000 after purchasing an additional 117 shares during the last quarter. Davis Capital Management boosted its position in shares of Nexstar Media Group by 2.0% in the 4th quarter. Davis Capital Management now owns 6,270 shares of the company’s stock worth $990,000 after purchasing an additional 122 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its position in Nexstar Media Group by 5.8% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 2,518 shares of the company’s stock valued at $398,000 after buying an additional 137 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Insider Buying and Selling at Nexstar Media Group

In other news, Director Charles Thomas Mcmillen sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $159.93, for a total value of $119,947.50. Following the transaction, the director now owns 6,975 shares in the company, valued at $1,115,511.75. This trade represents a 9.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gary Weitman sold 1,241 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $177.21, for a total value of $219,917.61. Following the sale, the insider now owns 3,975 shares of the company’s stock, valued at $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 a total of 73,112 shares of company stock valued at $12,085,893 over the last ninety days. Corporate insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NXST shares. StockNews.com downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Benchmark increased their price target on shares of Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Loop Capital upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $190.00 to $200.00 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, Guggenheim boosted their target price on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $208.43.

Nexstar Media Group Stock Performance

NXST opened at $181.00 on Wednesday. The stock has a market cap of $5.52 billion, a P/E ratio of 10.47, a P/E/G ratio of 0.45 and a beta of 1.47. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. The firm has a fifty day moving average price of $160.76 and a 200 day moving average price of $164.26. Nexstar Media Group, Inc. has a 1 year low of $146.04 and a 1 year high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.22 by ($1.66). The firm had revenue of $1.49 billion for 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%. Equities research analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 4.11%. The ex-dividend date was Wednesday, February 12th. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s payout ratio is presently 34.56%.

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.