UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 12.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 116,172 shares of the company's stock after acquiring an additional 12,695 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.37% of Nexstar Media Group worth $18,352,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Jones Financial Companies Lllp increased its position in shares of Nexstar Media Group by 15.3% during the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company's stock worth $87,000 after acquiring an additional 73 shares during the last quarter. Mariner LLC grew its stake in Nexstar Media Group by 5.3% during the 4th quarter. Mariner LLC now owns 2,300 shares of the company's stock valued at $363,000 after purchasing an additional 115 shares in the last quarter. Focus Partners Wealth grew its stake in Nexstar Media Group by 7.3% during the 4th quarter. Focus Partners Wealth now owns 1,726 shares of the company's stock valued at $273,000 after purchasing an additional 117 shares in the last quarter. Xponance Inc. increased its holdings in Nexstar Media Group by 3.1% during the 4th quarter. Xponance Inc. now owns 4,719 shares of the company's stock worth $745,000 after purchasing an additional 142 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Nexstar Media Group in the 4th quarter valued at approximately $25,000. Institutional investors and hedge funds own 95.30% of the company's stock.
Nexstar Media Group Stock Performance
Nexstar Media Group stock traded down $3.12 during mid-day trading on Monday, reaching $167.30. The company's stock had a trading volume of 251,751 shares, compared to its average volume of 390,484. 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 twelve month low of $141.66 and a twelve month high of $191.86. The business has a 50 day moving average price of $161.79 and a 200-day moving average price of $162.00. The firm has a market cap of $5.10 billion, a price-to-earnings ratio of 9.68, a PEG ratio of 0.45 and a beta of 1.06.
Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $3.26 by $0.11. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the business posted $5.16 EPS. The company's quarterly revenue was down 3.9% on a year-over-year basis. Sell-side 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 announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be issued a $1.86 dividend. The ex-dividend date is Monday, May 19th. This represents a $7.44 dividend on an annualized basis and a yield of 4.45%. Nexstar Media Group's dividend payout ratio is currently 37.69%.
Wall Street Analyst Weigh In
NXST has been the subject of a number of recent analyst reports. Benchmark decreased their price target on shares of Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Guggenheim increased their price objective on shares of 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 dropped their target price on shares of Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Wall Street Zen lowered shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, Barrington Research reaffirmed an "outperform" rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Tuesday, May 13th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $205.71.
Check Out Our Latest Stock Analysis on Nexstar Media Group
Insider Buying and Selling at Nexstar Media Group
In other news, insider Andrew Alford sold 3,768 shares of the company's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total transaction of $685,700.64. Following the completion of the transaction, the insider now owns 5,405 shares in the company, valued at approximately $983,601.90. This represents a 41.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles Thomas Mcmillen sold 2,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $169.51, for a total transaction of $339,020.00. Following the completion of the sale, the director now directly owns 4,975 shares in the company, valued at approximately $843,312.25. This trade represents a 28.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,288 shares of company stock worth $8,845,948 over the last ninety days. Company insiders own 6.70% of the company's stock.
About Nexstar Media Group
(
Free Report)
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.
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