Swiss National Bank Sells 4,900 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Swiss National Bank cut its stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 7.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,860 shares of the company's stock after selling 4,900 shares during the quarter. Swiss National Bank owned 0.19% of Nexstar Media Group worth $10,063,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Whittier Trust Co. bought a new stake in Nexstar Media Group during the second quarter worth $27,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Nexstar Media Group by 3,700.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company's stock valued at $44,000 after purchasing an additional 259 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Nexstar Media Group during the third quarter valued at about $44,000. UMB Bank n.a. boosted its holdings in Nexstar Media Group by 117.8% during the third quarter. UMB Bank n.a. now owns 294 shares of the company's stock worth $49,000 after purchasing an additional 159 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Nexstar Media Group by 112.2% in the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company's stock worth $49,000 after purchasing an additional 156 shares in the last quarter. Institutional investors own 95.30% of the company's stock.

Wall Street Analysts Forecast Growth

NXST has been the topic of several recent analyst reports. Wells Fargo & Company dropped their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an "overweight" rating on the stock in a research report on Friday, August 9th. Guggenheim cut their price objective on Nexstar Media Group from $200.00 to $198.00 and set a "buy" rating on the stock in a research report on Friday, October 4th. Benchmark reaffirmed a "buy" rating and set a $215.00 target price on shares of Nexstar Media Group in a research report on Friday, November 8th. StockNews.com raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Finally, Barrington Research restated an "outperform" rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Nexstar Media Group has an average rating of "Moderate Buy" and a consensus price target of $198.50.

Nexstar Media Group Stock Performance

NASDAQ:NXST traded up $0.86 on Monday, reaching $170.61. 329,466 shares of the company's stock were exchanged, compared to its average volume of 329,774. The firm has a market cap of $5.29 billion, a price-to-earnings ratio of 9.87, a P/E/G ratio of 0.20 and a beta of 1.48. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. The stock has a fifty day simple moving average of $168.98 and a 200-day simple moving average of $167.16. Nexstar Media Group, Inc. has a 52 week low of $141.38 and a 52 week high of $191.86.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing the consensus estimate of $5.51 by ($0.24). The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The firm's quarterly revenue was up 20.7% on a year-over-year basis. During the same period last year, the business posted $0.70 earnings per share. As a group, sell-side analysts predict that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $1.69 per share. The ex-dividend date is Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a yield of 3.96%. Nexstar Media Group's dividend payout ratio (DPR) is 39.10%.

Insiders Place Their Bets

In related news, insider Gary Weitman sold 7,261 shares of Nexstar Media Group stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $164.80, for a total transaction of $1,196,612.80. Following the completion of the sale, the insider now owns 5,216 shares of the company's stock, valued at approximately $859,596.80. This trade represents a 58.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles Thomas Mcmillen sold 1,000 shares of the company's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $160.00, for a total value of $160,000.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,619 shares of company stock worth $8,978,114 in the last quarter. 6.30% of the stock is owned by company insiders.

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.