Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Bank of America Corp DE

Bank of America Corp DE decreased its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 31.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 146,821 shares of the company's stock after selling 68,798 shares during the quarter. Bank of America Corp DE owned about 0.47% of Nexstar Media Group worth $23,193,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NXST. KBC Group NV raised 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 buying an additional 16,324 shares during the last quarter. Entropy Technologies LP purchased a new stake in Nexstar Media Group in the 4th quarter worth approximately $506,000. Barclays PLC raised its holdings 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 last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Nexstar Media Group during the 4th quarter worth $1,264,000. Finally, Pacer Advisors Inc. lifted its stake in shares of Nexstar Media Group by 27,180.2% during the 4th quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company's stock worth $190,650,000 after purchasing an additional 1,202,453 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Nexstar Media Group

In other news, insider Gary Weitman sold 1,241 shares of Nexstar Media Group stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $177.21, for a total value of $219,917.61. Following the completion of the transaction, the insider now directly owns 3,975 shares of the company's stock, valued at approximately $704,409.75. The trade was a 23.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Sean Compton sold 1,088 shares of Nexstar Media Group stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $175.53, for a total transaction of $190,976.64. Following the completion of the transaction, the insider now directly owns 12,096 shares of the company's stock, valued at $2,123,210.88. This trade represents a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 43,558 shares of company stock valued at $7,504,098. Corporate insiders own 6.70% of the company's stock.

Nexstar Media Group Trading Up 0.0%

NASDAQ NXST traded up $0.05 during mid-day trading on Friday, hitting $171.51. The company's stock had a trading volume of 311,671 shares, compared to its average volume of 391,265. The stock's fifty day simple moving average is $162.75 and its two-hundred day simple moving average is $162.14. Nexstar Media Group, Inc. has a 52-week low of $141.66 and a 52-week high of $191.86. 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 capitalization of $5.23 billion, a P/E ratio of 9.92, a price-to-earnings-growth ratio of 0.45 and a beta of 1.06.

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

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be issued 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 payout ratio is 37.69%.

Analysts Set New Price Targets

NXST has been the subject of several analyst reports. Guggenheim upped their target price 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. Barrington Research restated an "outperform" rating and issued a $200.00 price target on shares of Nexstar Media Group in a report on Tuesday, May 13th. Rosenblatt Securities reiterated a "buy" rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Monday, March 10th. Benchmark decreased their target price on shares of Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company lowered 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 report on Thursday, May 1st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Nexstar Media Group has a consensus rating of "Moderate Buy" and an average target price of $205.71.

About Nexstar Media Group

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.