Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Bought by American National Bank & Trust

American National Bank & Trust lifted its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 329.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,024 shares of the company's stock after purchasing an additional 2,320 shares during the quarter. American National Bank & Trust's holdings in Nexstar Media Group were worth $542,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in shares of Nexstar Media Group by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,331,355 shares of the company's stock worth $210,314,000 after purchasing an additional 4,704 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Nexstar Media Group by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,102,126 shares of the company's stock worth $174,103,000 after purchasing an additional 18,675 shares during the last quarter. Demars Financial Group LLC lifted its position in shares of Nexstar Media Group by 16,009.5% during the fourth quarter. Demars Financial Group LLC now owns 773,737 shares of the company's stock worth $122,227,000 after purchasing an additional 768,934 shares during the last quarter. Northern Trust Corp lifted its position in shares of Nexstar Media Group by 22.3% during the fourth quarter. Northern Trust Corp now owns 463,139 shares of the company's stock worth $73,162,000 after purchasing an additional 84,367 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Nexstar Media Group by 15.5% during the fourth quarter. AQR Capital Management LLC now owns 423,808 shares of the company's stock worth $66,949,000 after purchasing an additional 56,935 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO Michael Biard sold 2,182 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $173.59, for a total value of $378,773.38. Following the sale, the chief operating officer now owns 7,218 shares in the company, valued at $1,252,972.62. This represents a 23.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew Alford sold 3,768 shares of the company's stock in a transaction that occurred on 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 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. Over the last 90 days, insiders sold 21,274 shares of company stock valued at $3,711,819. 6.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

NXST has been the topic of several research reports. Guggenheim raised their price target on Nexstar Media Group from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Wells Fargo & Company cut their price target on Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Rosenblatt Securities restated a "buy" rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Monday, March 10th. Benchmark cut their price target on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Finally, Wall Street Zen lowered 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 issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $205.71.

Nexstar Media Group Stock Down 0.6%

NXST traded down $1.02 on Thursday, hitting $164.71. The company had a trading volume of 318,869 shares, compared to its average volume of 389,446. The stock has a fifty day moving average price of $161.10 and a 200-day moving average price of $162.10. Nexstar Media Group, Inc. has a 12-month low of $141.66 and a 12-month high of $191.86. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 9.53, a P/E/G ratio of 0.45 and a beta of 1.06.

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

Nexstar Media Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend was Monday, May 19th. Nexstar Media Group's dividend payout ratio is presently 37.69%.

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.