7,048 Shares in Nexstar Media Group, Inc. (NASDAQ:NXST) Acquired by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board acquired a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 7,048 shares of the company's stock, valued at approximately $1,113,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NXST. Pacer Advisors Inc. lifted its stake in Nexstar Media Group by 27,180.2% during the fourth quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company's stock valued at $190,650,000 after buying an additional 1,202,453 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Nexstar Media Group by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,102,126 shares of the company's stock valued at $174,103,000 after buying an additional 18,675 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Nexstar Media Group by 5.0% in the fourth quarter. Bank of New York Mellon Corp now owns 403,728 shares of the company's stock valued at $63,777,000 after buying an additional 19,116 shares during the period. Norges Bank bought a new stake in shares of Nexstar Media Group during the fourth quarter valued at approximately $44,460,000. Finally, Boston Partners raised its stake in shares of Nexstar Media Group by 1.6% in the 4th quarter. Boston Partners now owns 277,297 shares of the company's stock valued at $43,656,000 after buying an additional 4,457 shares in the last quarter. 95.30% of the stock is owned by institutional investors.

Nexstar Media Group Stock Up 0.2 %

Shares of NASDAQ:NXST traded up $0.31 during midday trading on Friday, reaching $147.50. The company had a trading volume of 279,689 shares, compared to its average volume of 371,012. The business's 50 day moving average price is $163.42 and its 200 day moving average price is $163.68. Nexstar Media Group, Inc. has a 1-year low of $143.32 and a 1-year high of $191.86. 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 stock has a market cap of $4.50 billion, a PE ratio of 8.53, a P/E/G ratio of 0.45 and a beta of 1.09.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $1.49 billion for 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%. Research analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date of this dividend 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 presently 34.56%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NXST shares. StockNews.com lowered shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Guggenheim lifted their price objective on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Rosenblatt Securities restated a "buy" rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Monday, March 10th. Benchmark increased their price objective on shares of Nexstar Media Group from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Finally, Loop Capital raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating and upped their target price for the stock from $190.00 to $200.00 in a research note on Friday, February 28th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $208.43.

Insiders Place Their Bets

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 2,000 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $169.51, for a total transaction of $339,020.00. Following the completion of the transaction, the director now owns 4,975 shares of the company's stock, valued at approximately $843,312.25. The trade was a 28.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Perry A. Sook sold 32,096 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $170.67, for a total value of $5,477,824.32. Following the sale, the chief executive officer now owns 806,019 shares in the company, valued at approximately $137,563,262.73. This trade represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,105 shares of company stock worth $6,722,463 in the last quarter. Corporate 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.