Bank of Montreal Can Sells 4,551 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Bank of Montreal Can trimmed its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 17.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,289 shares of the company's stock after selling 4,551 shares during the period. Bank of Montreal Can owned approximately 0.07% of Nexstar Media Group worth $3,521,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NXST. Public Employees Retirement System of Ohio grew its stake in shares of Nexstar Media Group by 2.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,188 shares of the company's stock worth $2,015,000 after acquiring an additional 310 shares in the last quarter. Barclays PLC raised its stake in Nexstar Media Group by 16.8% in the 3rd quarter. Barclays PLC now owns 45,051 shares of the company's stock valued at $7,448,000 after acquiring an additional 6,475 shares during the period. World Investment Advisors LLC acquired a new stake in Nexstar Media Group during the 3rd quarter valued at $3,747,000. Wilmington Savings Fund Society FSB bought a new position in Nexstar Media Group during the third quarter worth $33,000. Finally, Tidal Investments LLC increased its holdings in shares of Nexstar Media Group by 57.8% in the third quarter. Tidal Investments LLC now owns 3,217 shares of the company's stock valued at $532,000 after purchasing an additional 1,178 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Nexstar Media Group Trading Down 0.7 %

NASDAQ:NXST traded down $1.08 during trading hours on Monday, hitting $146.42. 439,343 shares of the company were exchanged, compared to its average volume of 372,017. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 8.47, a price-to-earnings-growth ratio of 0.45 and a beta of 1.09. The company has a fifty day simple moving average of $163.35 and a 200 day simple moving average of $163.56. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a one year low of $143.32 and a one year high of $191.86.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its 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). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.48 billion. Sell-side analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a dividend of $1.86 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This is a positive change from Nexstar Media Group's previous quarterly dividend of $1.69. This represents a $7.44 annualized dividend and a yield of 5.08%. Nexstar Media Group's dividend payout ratio is currently 34.56%.

Insider Buying and Selling at Nexstar Media Group

In other news, Director Charles Thomas Mcmillen sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $169.51, for a total transaction of $339,020.00. Following the transaction, the director now directly owns 4,975 shares of the company's stock, valued at $843,312.25. This represents a 28.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Perry A. Sook sold 32,096 shares of Nexstar Media Group stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $170.67, for a total transaction of $5,477,824.32. Following the completion of the sale, the chief executive officer now directly owns 806,019 shares of the company's stock, valued at approximately $137,563,262.73. The trade was a 3.83 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,105 shares of company stock valued at $6,722,463. Corporate insiders own 6.30% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Barrington Research reiterated an "outperform" rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Rosenblatt Securities reissued a "buy" rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Monday, March 10th. Benchmark raised their target price on shares of Nexstar Media Group from $200.00 to $225.00 and gave the company a "buy" rating in a report on Friday, February 28th. Loop Capital upgraded Nexstar Media Group from a "hold" rating to a "buy" rating and upped their price objective for the stock from $190.00 to $200.00 in a research report on Friday, February 28th. Finally, StockNews.com downgraded shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $208.43.

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.