Charles Schwab Investment Management Inc. Acquires 7,117 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Charles Schwab Investment Management Inc. increased its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,083,451 shares of the company's stock after acquiring an additional 7,117 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 3.36% of Nexstar Media Group worth $179,149,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in shares of Nexstar Media Group by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company's stock valued at $220,189,000 after buying an additional 62,331 shares in the last quarter. Copeland Capital Management LLC grew its holdings in Nexstar Media Group by 18.1% during the third quarter. Copeland Capital Management LLC now owns 547,728 shares of the company's stock valued at $90,567,000 after purchasing an additional 83,829 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Nexstar Media Group by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 418,815 shares of the company's stock worth $69,528,000 after acquiring an additional 2,145 shares during the period. Van Lanschot Kempen Investment Management N.V. boosted its position in Nexstar Media Group by 4.7% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 201,940 shares of the company's stock worth $33,524,000 after purchasing an additional 9,084 shares during the period. Finally, AQR Capital Management LLC grew its stake in Nexstar Media Group by 72.0% in the 2nd quarter. AQR Capital Management LLC now owns 199,811 shares of the company's stock valued at $32,769,000 after buying an additional 83,637 shares in the last quarter. Institutional investors own 95.30% of the company's stock.

Wall Street Analysts Forecast Growth

NXST has been the subject of a number of recent analyst reports. Loop Capital lowered Nexstar Media Group from a "buy" rating to a "hold" rating and reduced their target price for the company from $200.00 to $190.00 in a report on Friday, November 8th. Wells Fargo & Company lowered their price objective on Nexstar Media Group from $221.00 to $209.00 and set an "overweight" rating for the company in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft cut their price target 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. Barrington Research reissued an "outperform" rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, November 7th. Finally, Benchmark restated a "buy" rating and issued a $215.00 price objective on shares of Nexstar Media Group in a 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $198.50.

Nexstar Media Group Stock Up 0.4 %

NXST stock traded up $0.63 on Friday, reaching $169.75. 374,430 shares of the company traded hands, compared to its average volume of 399,829. 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 simple moving average of $168.98 and a 200-day simple moving average of $167.16. Nexstar Media Group, Inc. has a one year low of $141.38 and a one year high of $191.86. The company has a market cap of $5.27 billion, a P/E ratio of 9.82, a price-to-earnings-growth ratio of 0.20 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing analysts' consensus estimates of $5.51 by ($0.24). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the prior year, the business posted $0.70 earnings per share. The firm's revenue for the quarter was up 20.7% compared to the same quarter last year. Research analysts anticipate that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $1.69 dividend. The ex-dividend date is Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.98%. Nexstar Media Group's dividend payout ratio is presently 39.10%.

Insider Buying and Selling at Nexstar Media Group

In related news, insider Andrew Alford sold 3,175 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $167.82, for a total value of $532,828.50. Following the completion of the sale, the insider now directly owns 9,173 shares of the company's stock, valued at approximately $1,539,412.86. This represents a 25.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Rachel Morgan sold 6,196 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $171.30, for a total transaction of $1,061,374.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,903 shares of company stock worth $7,833,240. Insiders own 6.30% of the company's stock.

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.