Nexstar Media Group, Inc. (NASDAQ:NXST) Position Reduced by Bank of Montreal Can

Bank of Montreal Can decreased its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 12.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 26,840 shares of the company's stock after selling 3,964 shares during the period. Bank of Montreal Can owned 0.09% of Nexstar Media Group worth $4,466,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NXST. CX Institutional boosted its position in Nexstar Media Group by 5.0% in the third quarter. CX Institutional now owns 1,396 shares of the company's stock valued at $231,000 after buying an additional 67 shares in the last quarter. Blue Trust Inc. raised its holdings in Nexstar Media Group by 7.3% in the third quarter. Blue Trust Inc. now owns 1,088 shares of the company's stock worth $181,000 after purchasing an additional 74 shares during the period. Klein Pavlis & Peasley Financial Inc. raised its holdings in Nexstar Media Group by 0.6% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,903 shares of the company's stock worth $2,308,000 after buying an additional 87 shares during the period. SummerHaven Investment Management LLC raised its position in Nexstar Media Group by 2.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 4,217 shares of the company's stock valued at $700,000 after buying an additional 96 shares during the last quarter. Finally, Natixis Advisors LLC increased its stake in Nexstar Media Group by 1.2% in the 3rd quarter. Natixis Advisors LLC now owns 10,185 shares of the company's stock valued at $1,684,000 after buying an additional 117 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Insider Activity at Nexstar Media Group

In other news, CEO Perry A. Sook sold 12,239 shares of the business's stock in a transaction dated 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 directly owns 674,694 shares of the company's stock, valued at approximately $128,380,774.32. The trade was a 1.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles Thomas Mcmillen sold 1,000 shares of the business's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $160.00, for a total value of $160,000.00. Following the completion of the transaction, the director now owns 7,975 shares in the company, valued at $1,276,000. This trade represents a 11.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,423 shares of company stock valued at $7,916,739. 6.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NXST shares. StockNews.com raised Nexstar Media Group from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Wells Fargo & Company dropped their price target on Nexstar Media Group from $221.00 to $209.00 and set an "overweight" rating on the stock in a research note on Friday, August 9th. Loop Capital cut Nexstar Media Group from a "buy" rating to a "hold" rating and dropped their price objective for the company from $200.00 to $190.00 in a research note on Friday, November 8th. Guggenheim lowered their target price on 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. Finally, Benchmark restated a "buy" rating and issued a $215.00 price objective on shares of Nexstar Media Group in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $198.50.

Nexstar Media Group Price Performance

NASDAQ NXST traded up $2.53 during trading hours on Wednesday, reaching $172.94. The company's stock had a trading volume of 253,148 shares, compared to its average volume of 327,242. The firm's 50-day moving average price is $169.52 and its 200-day moving average price is $167.01. 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 1 year low of $141.38 and a 1 year high of $191.86. The company has a market capitalization of $5.36 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 0.21 and a beta of 1.45.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing the consensus estimate 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 analysts' expectations of $1.37 billion. During the same quarter in the prior year, the company posted $0.70 earnings per share. Nexstar Media Group's quarterly revenue was up 20.7% compared to the same quarter last year. On average, equities research analysts predict that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $1.69 per share. The ex-dividend date was Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a yield of 3.91%. Nexstar Media Group's dividend payout ratio 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.