Charles Schwab Investment Management Inc. Buys 18,675 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Charles Schwab Investment Management Inc. raised its stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,102,126 shares of the company's stock after buying an additional 18,675 shares during the period. Charles Schwab Investment Management Inc. owned about 3.55% of Nexstar Media Group worth $174,103,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in NXST. Brooklyn Investment Group bought a new position in Nexstar Media Group during the third quarter worth $25,000. SBI Securities Co. Ltd. acquired a new position in shares of Nexstar Media Group in the 4th quarter valued at about $25,000. True Wealth Design LLC bought a new stake in shares of Nexstar Media Group during the 3rd quarter valued at about $30,000. Wilmington Savings Fund Society FSB acquired a new stake in Nexstar Media Group during the third quarter worth approximately $33,000. Finally, Capital Performance Advisors LLP bought a new stake in Nexstar Media Group in the third quarter worth approximately $44,000. Institutional investors own 95.30% of the company's stock.

Insiders Place Their Bets

In other news, insider Gary Weitman sold 1,241 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $177.21, for a total transaction of $219,917.61. Following the completion of the transaction, the insider now directly owns 3,975 shares of the company's stock, valued at $704,409.75. This represents a 23.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Lee Ann Gliha sold 330 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $158.23, for a total transaction of $52,215.90. Following the sale, the chief financial officer now owns 8,610 shares of the company's stock, valued at approximately $1,362,360.30. The trade was a 3.69 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 161,955 shares of company stock valued at $26,240,628. Corporate insiders own 6.30% of the company's stock.

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Analyst Upgrades and Downgrades

NXST has been the subject of several recent analyst reports. Loop Capital raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating and raised their price objective for the stock from $190.00 to $200.00 in a research report on Friday, February 28th. Guggenheim lifted their price target on shares of 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 shares of Nexstar Media Group from $200.00 to $225.00 and gave the company a "buy" rating in a report on Friday, February 28th. Barrington Research restated an "outperform" rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $200.00 price target on shares of Nexstar Media Group in a report on Monday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $208.43.

Nexstar Media Group Stock Down 4.5 %

NXST traded down $7.88 during midday trading on Tuesday, reaching $169.06. 817,055 shares of the company were exchanged, compared to its average volume of 392,699. The company has a market cap of $5.16 billion, a price-to-earnings ratio of 9.78, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47. Nexstar Media Group, Inc. has a one year low of $146.04 and a one year high of $191.86. The company's fifty day moving average price is $156.61 and its 200 day moving average price is $163.71. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported $7.56 EPS for the quarter, missing analysts' consensus estimates 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 net margin of 11.39% and a return on equity of 26.03%. As a group, analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors 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 a boost from Nexstar Media Group's previous quarterly dividend of $1.69. This represents a $7.44 annualized dividend and a yield of 4.40%. Nexstar Media Group's payout ratio is 34.56%.

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.