JPMorgan Chase & Co. Sells 17,186 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

JPMorgan Chase & Co. trimmed its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 3.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 505,127 shares of the company's stock after selling 17,186 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.63% of Nexstar Media Group worth $83,523,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position 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 during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Nexstar Media Group by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company's stock valued at $179,149,000 after buying an additional 7,117 shares during the period. Copeland Capital Management LLC grew its stake in shares of Nexstar Media Group by 18.1% during the third quarter. Copeland Capital Management LLC now owns 547,728 shares of the company's stock worth $90,567,000 after purchasing an additional 83,829 shares in the last quarter. AQR Capital Management LLC raised its holdings in Nexstar Media Group by 72.0% during the second quarter. AQR Capital Management LLC now owns 199,811 shares of the company's stock worth $32,769,000 after purchasing an additional 83,637 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Nexstar Media Group by 6.1% during the third quarter. New York State Common Retirement Fund now owns 189,673 shares of the company's stock worth $31,362,000 after purchasing an additional 10,938 shares in the last quarter. Institutional investors own 95.30% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. StockNews.com upgraded Nexstar Media Group from a "hold" rating to a "buy" rating in a research note on Friday, November 8th. Barrington Research reaffirmed an "outperform" rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, November 7th. Guggenheim lowered their target price on shares of Nexstar Media Group from $200.00 to $198.00 and set a "buy" rating for the company in a report on Friday, October 4th. Benchmark restated a "buy" rating and set a $215.00 price target on shares of Nexstar Media Group in a research note on Friday, November 8th. Finally, Loop Capital cut shares of Nexstar Media Group from a "buy" rating to a "hold" rating and decreased their price target for the stock from $200.00 to $190.00 in a research report on Friday, November 8th. One investment analyst has 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 a consensus rating of "Moderate Buy" and an average price target of $204.29.

Nexstar Media Group Stock Performance

Shares of NASDAQ NXST traded up $1.54 during trading on Friday, reaching $160.83. The stock had a trading volume of 184,755 shares, compared to its average volume of 262,078. The stock has a market cap of $4.99 billion, a PE ratio of 9.30, a P/E/G ratio of 0.20 and a beta of 1.45. Nexstar Media Group, Inc. has a one year low of $147.25 and a one year high of $191.86. The firm's 50 day moving average price is $167.23 and its two-hundred day moving average price is $167.57. 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 posted its earnings results on Thursday, November 7th. The company reported $5.27 EPS 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 the consensus estimate of $1.37 billion. During the same quarter last year, the company posted $0.70 EPS. Nexstar Media Group's revenue for the quarter was up 20.7% on a year-over-year basis. On average, research analysts forecast that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 4.20%. The ex-dividend date was Friday, November 15th. Nexstar Media Group's dividend payout ratio (DPR) is currently 39.10%.

Insider Activity

In related news, CEO Perry A. Sook sold 12,239 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $128,380,774.32. The trade was a 1.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Charles Thomas Mcmillen sold 750 shares of Nexstar Media Group stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $159.93, for a total transaction of $119,947.50. Following the completion of the transaction, the director now owns 6,975 shares of the company's stock, valued at $1,115,511.75. This trade represents a 9.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 146,448 shares of company stock worth $23,828,076 over the last quarter. Corporate insiders own 6.30% of the company's stock.

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.