MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Takes $1.68 Million Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,619 shares of the company's stock, valued at approximately $1,677,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. KBC Group NV grew its position in shares of Nexstar Media Group by 1,801.8% in the fourth quarter. KBC Group NV now owns 17,230 shares of the company's stock valued at $2,722,000 after purchasing an additional 16,324 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of Nexstar Media Group in the fourth quarter valued at approximately $506,000. Barclays PLC grew its position in shares of Nexstar Media Group by 16.8% in the third quarter. Barclays PLC now owns 45,051 shares of the company's stock valued at $7,448,000 after purchasing an additional 6,475 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Nexstar Media Group in the fourth quarter valued at approximately $1,264,000. Finally, Pacer Advisors Inc. grew its position in shares of Nexstar Media Group by 27,180.2% in the fourth quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company's stock valued at $190,650,000 after purchasing an additional 1,202,453 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Nexstar Media Group news, insider Dana Zimmer sold 916 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $173.59, for a total transaction of $159,008.44. Following the transaction, the insider now owns 4,225 shares of the company's stock, valued at $733,417.75. This trade represents a 17.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gary Weitman sold 1,241 shares of the firm's stock in a transaction on 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 approximately $704,409.75. This represents a 23.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,288 shares of company stock valued at $8,845,948 over the last quarter. Company insiders own 6.70% of the company's stock.

Nexstar Media Group Trading Down 0.5%

NASDAQ:NXST traded down $0.91 during trading hours on Thursday, reaching $171.31. 27,537 shares of the company were exchanged, compared to its average volume of 390,036. 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 firm has a market cap of $5.23 billion, a price-to-earnings ratio of 9.91, a PEG ratio of 0.45 and a beta of 1.06. Nexstar Media Group, Inc. has a 52-week low of $141.66 and a 52-week high of $191.86. The stock has a 50 day simple moving average of $162.46 and a 200 day simple moving average of $162.01.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $3.37 earnings per share for the quarter, topping analysts' consensus estimates of $3.26 by $0.11. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. Nexstar Media Group's revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $5.16 earnings per share. As a group, analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date is Monday, May 19th. Nexstar Media Group's dividend payout ratio is currently 37.69%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NXST. Wells Fargo & Company lowered their price target on shares of Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Barrington Research restated an "outperform" rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Tuesday, May 13th. Guggenheim raised their target price on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Wall Street Zen lowered shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, Rosenblatt Securities restated a "buy" rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Monday, March 10th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $205.71.

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.