Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 15.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,947 shares of the company's stock after purchasing an additional 2,929 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.07% of Nexstar Media Group worth $3,493,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new position in shares of Nexstar Media Group in the 3rd quarter valued at approximately $25,000. True Wealth Design LLC acquired a new position in shares of Nexstar Media Group in the 3rd quarter valued at approximately $30,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Nexstar Media Group in the 3rd quarter valued at approximately $33,000. Capital Performance Advisors LLP acquired a new position in shares of Nexstar Media Group in the 3rd quarter valued at approximately $44,000. Finally, UMB Bank n.a. raised its position in shares of Nexstar Media Group by 117.8% in the 3rd quarter. UMB Bank n.a. now owns 294 shares of the company's stock valued at $49,000 after purchasing an additional 159 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Perry A. Sook sold 35,205 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $162.13, for a total value of $5,707,786.65. Following the completion of the transaction, the chief executive officer now owns 674,694 shares of the company's stock, valued at approximately $109,388,138.22. This represents a 4.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lisbeth Mcnabb sold 875 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $172.00, for a total value of $150,500.00. Following the completion of the transaction, the director now directly owns 5,752 shares of the company's stock, valued at approximately $989,344. The trade was a 13.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,209 shares of company stock worth $21,499,239 in the last three months. 6.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NXST has been the subject of a number of research analyst reports. Benchmark reiterated a "buy" rating and issued a $215.00 price target on shares of Nexstar Media Group in a report on Friday, November 8th. Barrington Research reiterated an "outperform" rating and issued a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, November 7th. Loop Capital downgraded Nexstar Media Group from a "buy" rating to a "hold" rating and lowered their price target for the company from $200.00 to $190.00 in a report on Friday, November 8th. Guggenheim reiterated a "buy" rating on shares of Nexstar Media Group in a report on Wednesday, January 22nd. Finally, StockNews.com upgraded Nexstar Media Group from a "hold" rating to a "buy" rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Nexstar Media Group currently has an average rating of "Moderate Buy" and a consensus target price of $204.29.

Nexstar Media Group Stock Performance

NXST traded down $3.31 during trading on Wednesday, reaching $149.75. 240,738 shares of the company were exchanged, compared to its average volume of 275,473. The stock has a market cap of $4.65 billion, a P/E ratio of 8.66, a PEG ratio of 0.44 and a beta of 1.45. The firm has a 50 day moving average of $158.20 and a 200 day moving average of $164.98. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a 52 week low of $147.25 and a 52 week high of $191.86.

Nexstar Media Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be paid a dividend of $1.86 per share. This is an increase from Nexstar Media Group's previous quarterly dividend of $1.69. This represents a $7.44 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date is Wednesday, February 12th. Nexstar Media Group's dividend payout ratio is presently 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.