Bank of New York Mellon Corp Purchases 19,116 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Bank of New York Mellon Corp lifted its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 403,728 shares of the company's stock after purchasing an additional 19,116 shares during the period. Bank of New York Mellon Corp owned 1.30% of Nexstar Media Group worth $63,777,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in NXST. Pacer Advisors Inc. increased its stake in Nexstar Media Group by 27,180.2% during the 4th quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company's stock worth $190,650,000 after acquiring an additional 1,202,453 shares during the period. Payden & Rygel increased its stake in Nexstar Media Group by 40.4% during the 3rd quarter. Payden & Rygel now owns 110,200 shares of the company's stock worth $18,222,000 after acquiring an additional 31,700 shares during the period. World Investment Advisors LLC bought a new position in Nexstar Media Group during the 3rd quarter worth $3,747,000. SGL Investment Advisors Inc. bought a new position in Nexstar Media Group during the 3rd quarter worth $3,758,000. Finally, Stifel Financial Corp increased its stake in Nexstar Media Group by 136.8% during the 3rd quarter. Stifel Financial Corp now owns 30,355 shares of the company's stock worth $5,019,000 after acquiring an additional 17,535 shares during the period. Institutional investors own 95.30% of the company's stock.

Insiders Place Their Bets

In other Nexstar Media Group news, CEO Perry A. Sook sold 52,808 shares of Nexstar Media Group stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $157.41, for a total transaction of $8,312,507.28. Following the transaction, the chief executive officer now directly owns 674,694 shares of the company's stock, valued at approximately $106,203,582.54. The trade was a 7.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Lee Ann Gliha sold 330 shares of Nexstar Media Group stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $158.23, for a total value of $52,215.90. Following the transaction, the chief financial officer now directly owns 8,610 shares in the company, valued at $1,362,360.30. The trade was a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 162,830 shares of company stock valued at $26,391,128. 6.30% of the stock is currently owned by company insiders.

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Nexstar Media Group Price Performance

Shares of NASDAQ NXST traded up $5.26 during mid-day trading on Friday, hitting $177.85. 609,979 shares of the stock traded hands, compared to its average volume of 371,909. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. Nexstar Media Group, Inc. has a twelve month low of $146.04 and a twelve month high of $191.86. The company has a market cap of $5.52 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 0.45 and a beta of 1.45. The firm has a 50 day simple moving average of $156.23 and a two-hundred day simple moving average of $163.70.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported $7.56 earnings per share for the quarter, missing the consensus estimate of $9.22 by ($1.66). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.48 billion. As a group, equities 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 announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a dividend of $1.86 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This is an increase from Nexstar Media Group's previous quarterly dividend of $1.69. This represents a $7.44 annualized dividend and a yield of 4.18%. Nexstar Media Group's payout ratio is presently 34.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Barrington Research restated an "outperform" rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Wednesday. Benchmark raised their target price on Nexstar Media Group from $200.00 to $225.00 and gave the company a "buy" rating in a report on Friday, February 28th. Loop Capital raised Nexstar Media Group from a "hold" rating to a "buy" rating and raised their target price for the company from $190.00 to $200.00 in a report on Friday, February 28th. StockNews.com downgraded Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Finally, Guggenheim raised their target price on Nexstar Media Group from $210.00 to $220.00 and gave the company a "buy" rating in a 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's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $210.29.

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.