BNP Paribas Financial Markets Acquires 10,603 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

BNP Paribas Financial Markets increased its stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 67.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,239 shares of the company's stock after acquiring an additional 10,603 shares during the period. BNP Paribas Financial Markets owned about 0.08% of Nexstar Media Group worth $4,339,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of NXST. Brooklyn Investment Group purchased a new position in shares of Nexstar Media Group during the third quarter valued at approximately $25,000. Whittier Trust Co. bought a new position in Nexstar Media Group in the 2nd quarter worth $27,000. Allspring Global Investments Holdings LLC lifted its position in shares of Nexstar Media Group by 3,700.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company's stock worth $44,000 after purchasing an additional 259 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of Nexstar Media Group in the 3rd quarter worth about $44,000. Finally, GAMMA Investing LLC boosted its stake in shares of Nexstar Media Group by 112.2% during the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company's stock valued at $49,000 after purchasing an additional 156 shares in the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NXST. Guggenheim cut their price objective on Nexstar Media Group from $200.00 to $198.00 and set a "buy" rating on the stock in a research report on Friday, October 4th. Loop Capital cut Nexstar Media Group from a "buy" rating to a "hold" rating and reduced their price target for the stock from $200.00 to $190.00 in a research note on Friday, November 8th. StockNews.com upgraded Nexstar Media Group from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Nexstar Media Group from $207.00 to $205.00 and set a "buy" rating on the stock in a report on Friday, August 9th. Finally, Benchmark reissued a "buy" rating and set a $215.00 price target on shares of Nexstar Media Group in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $198.50.

Insider Activity at Nexstar Media Group

In related news, CEO Perry A. Sook sold 12,239 shares of the firm's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $190.28, for a total value of $2,328,836.92. Following the sale, the chief executive officer now owns 674,694 shares in the company, valued at approximately $128,380,774.32. This trade represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Charles Thomas Mcmillen sold 1,000 shares of the business's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $160.00, for a total transaction of $160,000.00. Following the sale, the director now owns 7,975 shares of the company's stock, valued at approximately $1,276,000. This represents a 11.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,423 shares of company stock valued at $7,916,739 over the last ninety days. Insiders own 6.30% of the company's stock.

Nexstar Media Group Stock Down 1.1 %

NASDAQ:NXST traded down $1.85 on Thursday, reaching $171.09. 215,715 shares of the stock traded hands, compared to its average volume of 326,768. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. The company has a market capitalization of $5.31 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 0.20 and a beta of 1.45. Nexstar Media Group, Inc. has a 12 month low of $141.56 and a 12 month high of $191.86. The company's fifty day simple moving average is $169.85 and its 200 day simple moving average is $167.08.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its quarterly 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). The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. Nexstar Media Group's revenue was up 20.7% on a year-over-year basis. During the same period last year, the business earned $0.70 EPS. Equities analysts predict that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date was Friday, November 15th. Nexstar Media Group's payout ratio is currently 39.10%.

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.