BNP PARIBAS ASSET MANAGEMENT Holding S.A. Has $18.50 Million Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 5.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 111,905 shares of the company's stock after purchasing an additional 6,101 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.35% of Nexstar Media Group worth $18,504,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Nexstar Media Group by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company's stock worth $580,689,000 after acquiring an additional 127,783 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Nexstar Media Group by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company's stock worth $220,189,000 after purchasing an additional 62,331 shares during the last quarter. Copeland Capital Management LLC lifted its holdings in shares of Nexstar Media Group by 18.1% in the 3rd 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 during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Nexstar Media Group by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 418,815 shares of the company's stock worth $69,528,000 after purchasing an additional 2,145 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. lifted its holdings in shares of Nexstar Media Group by 4.7% in the 2nd 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 last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Insider Buying and Selling

In other news, EVP Rachel Morgan sold 6,196 shares of Nexstar Media Group 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Charles Thomas Mcmillen sold 1,000 shares of Nexstar Media Group stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $160.00, for a total value of $160,000.00. Following the transaction, the director now owns 7,975 shares in the company, valued at $1,276,000. This represents a 11.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,903 shares of company stock worth $7,833,240 in the last three months. 6.30% of the stock is currently owned by insiders.

Nexstar Media Group Price Performance

Shares of NXST stock traded up $0.63 during mid-day trading on Friday, hitting $169.75. 374,430 shares of the stock traded hands, compared to its average volume of 399,829. Nexstar Media Group, Inc. has a twelve month low of $141.38 and a twelve month high of $191.86. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of 9.82, a price-to-earnings-growth ratio of 0.20 and a beta of 1.48. The company's 50-day simple moving average is $168.93 and its 200-day simple moving average is $167.15. 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 issued its quarterly earnings results on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $1.37 billion. During the same quarter last 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. As a group, equities research analysts expect 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 announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group's payout ratio is 39.10%.

Wall Street Analysts Forecast Growth

NXST has been the topic of several recent research reports. Guggenheim cut their price target on Nexstar Media Group from $200.00 to $198.00 and set a "buy" rating on the stock in a report on Friday, October 4th. Loop Capital downgraded Nexstar Media Group from a "buy" rating to a "hold" rating and cut their price target for the stock from $200.00 to $190.00 in a report on Friday, November 8th. StockNews.com raised Nexstar Media Group from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Wells Fargo & Company cut their target price on Nexstar Media Group from $221.00 to $209.00 and set an "overweight" rating on the stock in a research note on Friday, August 9th. Finally, Benchmark reaffirmed a "buy" rating and set a $215.00 target price on shares of Nexstar Media Group in a research note on Friday, November 8th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $198.50.

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.