Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 17.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 418,372 shares of the company's stock after selling 86,755 shares during the period. JPMorgan Chase & Co. owned about 1.35% of Nexstar Media Group worth $66,090,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of NXST. Verition Fund Management LLC boosted its stake in shares of Nexstar Media Group by 25.2% during the 3rd quarter. Verition Fund Management LLC now owns 7,344 shares of the company's stock valued at $1,214,000 after buying an additional 1,479 shares during the last quarter. Holocene Advisors LP boosted its stake in Nexstar Media Group by 680.9% during the 3rd quarter. Holocene Advisors LP now owns 17,219 shares of the company's stock valued at $2,847,000 after acquiring an additional 15,014 shares during the last quarter. Quarry LP grew its holdings in Nexstar Media Group by 111.1% during the 3rd quarter. Quarry LP now owns 627 shares of the company's stock worth $104,000 after acquiring an additional 330 shares in the last quarter. Quantinno Capital Management LP increased its position in shares of Nexstar Media Group by 27.6% in the 3rd quarter. Quantinno Capital Management LP now owns 4,287 shares of the company's stock worth $709,000 after purchasing an additional 928 shares during the last quarter. Finally, Stifel Financial Corp increased its position in shares of Nexstar Media Group by 136.8% in the 3rd quarter. Stifel Financial Corp now owns 30,355 shares of the company's stock worth $5,019,000 after purchasing an additional 17,535 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

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Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Rosenblatt Securities reiterated a "buy" rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Monday, March 10th. StockNews.com downgraded Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Guggenheim raised their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Barrington Research reaffirmed an "outperform" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Wednesday, March 5th. Finally, Loop Capital raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating and increased their target price for the stock from $190.00 to $200.00 in a report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $208.43.

Nexstar Media Group Stock Performance

NASDAQ NXST traded up $11.61 during trading hours on Wednesday, hitting $159.40. The company had a trading volume of 834,503 shares, compared to its average volume of 364,845. Nexstar Media Group, Inc. has a fifty-two week low of $143.55 and a fifty-two week high of $191.86. The firm has a market cap of $4.86 billion, a P/E ratio of 9.22, a price-to-earnings-growth ratio of 0.45 and a beta of 1.09. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The business has a fifty day simple moving average of $163.73 and a 200-day simple moving average of $164.39.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported $7.56 earnings per share for the quarter, missing analysts' consensus estimates of $9.22 by ($1.66). The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. Equities analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date was Wednesday, February 12th. This is a boost from Nexstar Media Group's previous quarterly dividend of $1.69. Nexstar Media Group's payout ratio is 34.56%.

Insider Transactions at Nexstar Media Group

In related news, CEO Perry A. Sook sold 32,096 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $170.67, for a total value of $5,477,824.32. Following the completion of the sale, the chief executive officer now owns 806,019 shares of the company's stock, valued at $137,563,262.73. This represents a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Andrew Alford sold 3,768 shares of the stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total transaction of $685,700.64. Following the completion of the transaction, the insider now owns 5,405 shares of the company's stock, valued at $983,601.90. This represents a 41.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,105 shares of company stock worth $6,722,463. Company insiders own 6.30% of the company's stock.

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.