Royal Bank of Canada decreased its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 14.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,128 shares of the company's stock after selling 22,483 shares during the quarter. Royal Bank of Canada owned approximately 0.44% of Nexstar Media Group worth $21,504,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake 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 valued at $210,314,000 after purchasing an additional 4,704 shares in the last quarter. Pacer Advisors Inc. raised its holdings 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 worth $190,650,000 after buying an additional 1,202,453 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Nexstar Media Group by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,102,126 shares of the company's stock worth $174,103,000 after acquiring an additional 18,675 shares during the last quarter. Demars Financial Group LLC lifted its holdings 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 period. Finally, Northern Trust Corp lifted its stake in Nexstar Media Group by 22.3% during the 4th quarter. Northern Trust Corp now owns 463,139 shares of the company's stock valued at $73,162,000 after acquiring an additional 84,367 shares during the period. Hedge funds and other institutional investors own 95.30% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have recently commented on NXST. Wells Fargo & Company lowered their target price 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. Barrington Research reissued an "outperform" rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Tuesday, May 13th. Guggenheim raised their price target on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Benchmark lowered their price objective 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, Loop Capital raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating and increased their price target for the company from $190.00 to $200.00 in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $205.71.
View Our Latest Report on NXST
Insiders Place Their Bets
In other news, insider Dana Zimmer sold 916 shares of the business's 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 completion of the sale, the insider now owns 4,225 shares in the company, valued at approximately $733,417.75. The trade was a 17.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles Thomas Mcmillen sold 2,000 shares of Nexstar Media Group stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $169.51, for a total value of $339,020.00. Following the sale, the director now owns 4,975 shares in the company, valued at $843,312.25. This trade represents a 28.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,288 shares of company stock worth $8,845,948 in the last 90 days. Corporate insiders own 6.70% of the company's stock.
Nexstar Media Group Trading Down 0.6%
Shares of NXST stock traded down $0.98 on Friday, hitting $169.59. The stock had a trading volume of 41,590 shares, compared to its average volume of 389,819. The company's 50 day moving average price is $162.32 and its 200-day moving average price is $162.01. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year 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 $5.17 billion, a P/E ratio of 9.83, 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 EPS for the quarter, beating the consensus estimate of $3.26 by $0.11. The company had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.23 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm's revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the company posted $5.16 EPS. Analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share 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 paid 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 4.39%. Nexstar Media Group's dividend payout ratio is currently 37.69%.
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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