UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 10.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,477 shares of the company's stock after selling 11,648 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.33% of Nexstar Media Group worth $17,110,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Brooklyn Investment Group purchased a new stake in Nexstar Media Group during the 3rd quarter worth approximately $25,000. Whittier Trust Co. acquired a new position in shares of Nexstar Media Group in the 2nd quarter valued at $27,000. Allspring Global Investments Holdings LLC raised its stake in Nexstar Media Group by 3,700.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company's stock worth $44,000 after acquiring an additional 259 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in Nexstar Media Group during the 3rd quarter worth about $44,000. Finally, GAMMA Investing LLC grew its stake in Nexstar Media Group by 112.2% during the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company's stock valued at $49,000 after purchasing an additional 156 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Nexstar Media Group

In other Nexstar Media Group news, insider Brett Jenkins sold 4,331 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $170.64, for a total value of $739,041.84. Following the completion of the transaction, the insider now owns 25,540 shares in the company, valued at $4,358,145.60. The trade was a 14.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Charles Thomas Mcmillen sold 1,000 shares of the company's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $160.00, for a total value of $160,000.00. Following the sale, the director now directly 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 sold a total of 45,423 shares of company stock worth $7,916,739 over the last ninety days. Company insiders own 6.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Guggenheim cut their price target on shares of Nexstar Media Group from $200.00 to $198.00 and set a "buy" rating on the stock in a report on Friday, October 4th. Barrington Research reiterated an "outperform" rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, November 7th. StockNews.com upgraded Nexstar Media Group from a "hold" rating to a "buy" rating in a research report on Friday, November 8th. Benchmark reaffirmed a "buy" rating and set a $215.00 target price on shares of Nexstar Media Group in a report on Friday, November 8th. Finally, Wells Fargo & Company decreased their price target on shares of 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. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Nexstar Media Group presently has a consensus rating of "Moderate Buy" and an average price target of $198.50.

Nexstar Media Group Trading Down 0.5 %

Shares of NASDAQ NXST traded down $0.92 during midday trading on Friday, reaching $170.17. 179,077 shares of the stock were exchanged, compared to its average volume of 357,562. Nexstar Media Group, Inc. has a twelve month low of $141.56 and a twelve month high of $191.86. The stock has a market capitalization of $5.28 billion, a P/E ratio of 9.84, a PEG ratio of 0.21 and a beta of 1.45. The company has a 50 day simple moving average of $169.93 and a 200 day simple moving average of $167.10. 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 announced its quarterly earnings results on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. Nexstar Media Group's revenue was up 20.7% on a year-over-year basis. As a group, equities analysts expect that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend was Friday, November 15th. Nexstar Media Group's dividend payout ratio (DPR) is 39.10%.

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.