Zions Bancorporation N.A. Purchases 2,155 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Zions Bancorporation N.A. grew its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 17.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,381 shares of the company's stock after purchasing an additional 2,155 shares during the quarter. Zions Bancorporation N.A.'s holdings in Nexstar Media Group were worth $2,272,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its position in Nexstar Media Group by 67.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 26,239 shares of the company's stock worth $4,339,000 after buying an additional 10,603 shares in the last quarter. SGL Investment Advisors Inc. acquired a new position in shares of Nexstar Media Group during the third quarter valued at $3,758,000. Holocene Advisors LP boosted its holdings in Nexstar Media Group by 680.9% in the third 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. KBC Group NV increased its position in Nexstar Media Group by 1,801.8% in the fourth quarter. KBC Group NV now owns 17,230 shares of the company's stock worth $2,722,000 after purchasing an additional 16,324 shares during the period. Finally, FORA Capital LLC bought a new stake in Nexstar Media Group during the 3rd quarter worth about $712,000. Institutional investors own 95.30% of the company's stock.

Nexstar Media Group Trading Down 1.7 %

NASDAQ:NXST traded down $3.04 on Friday, reaching $176.45. The company's stock had a trading volume of 410,199 shares, compared to its average volume of 351,655. Nexstar Media Group, Inc. has a 1-year low of $146.04 and a 1-year high of $191.86. The business's 50-day moving average price is $162.36 and its two-hundred day moving average price is $164.61. The firm has a market cap of $5.38 billion, a PE ratio of 10.21, a PEG ratio of 0.45 and a beta of 1.47. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68.

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

Nexstar Media Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a $1.86 dividend. This is an increase from Nexstar Media Group's previous quarterly dividend of $1.69. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.44 annualized dividend and a dividend yield of 4.22%. Nexstar Media Group's dividend payout ratio (DPR) is currently 34.56%.

Analyst Ratings Changes

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

Insider Activity

In other news, insider Gary Weitman sold 1,241 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $177.21, for a total transaction of $219,917.61. Following the completion of the transaction, the insider now directly owns 3,975 shares in the company, valued at $704,409.75. This represents a 23.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Andrew Alford sold 3,768 shares of Nexstar Media Group stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total value of $685,700.64. Following the completion of the sale, the insider now directly owns 5,405 shares in the company, valued at approximately $983,601.90. This represents a 41.08 % decrease in their position. 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 over the last three months. Corporate insiders own 6.30% of the company's stock.

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.