Cetera Trust Company N.A Purchases New Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Cetera Trust Company N.A bought a new position in Nexstar Media Group, Inc. (NASDAQ:NXST) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,425 shares of the company’s stock, valued at approximately $223,000.

Several other large investors also recently modified their holdings of the business. BlackRock Inc. grew its position in shares of Nexstar Media Group by 0.8% in the 1st quarter. BlackRock Inc. now owns 3,397,336 shares of the company’s stock worth $586,584,000 after buying an additional 27,714 shares during the last quarter. State Street Corp increased its position in Nexstar Media Group by 0.5% during the 1st quarter. State Street Corp now owns 1,038,998 shares of the company’s stock valued at $179,393,000 after purchasing an additional 5,325 shares during the period. Morgan Stanley lifted its position in shares of Nexstar Media Group by 2.9% in the 3rd quarter. Morgan Stanley now owns 1,014,676 shares of the company’s stock worth $145,474,000 after purchasing an additional 28,975 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Nexstar Media Group by 9.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 716,393 shares of the company’s stock valued at $135,026,000 after purchasing an additional 60,217 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Nexstar Media Group by 44.3% during the third quarter. JPMorgan Chase & Co. now owns 607,631 shares of the company’s stock valued at $87,116,000 after buying an additional 186,486 shares during the period. 95.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NXST has been the topic of several research reports. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, March 7th. Rosenblatt Securities dropped their price target on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. Finally, TheStreet upgraded Nexstar Media Group from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $193.83.

Insider Transactions at Nexstar Media Group

In related news, EVP Michael Strober sold 1,000 shares of Nexstar Media Group stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $167.49, for a total transaction of $167,490.00. Following the transaction, the executive vice president now owns 1,076 shares in the company, valued at approximately $180,219.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Sean Compton sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $162.61, for a total value of $487,830.00. Following the transaction, the insider now directly owns 9,489 shares of the company’s stock, valued at approximately $1,543,006.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael Strober sold 1,000 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $167.49, for a total transaction of $167,490.00. Following the completion of the sale, the executive vice president now owns 1,076 shares in the company, valued at approximately $180,219.24. The disclosure for this sale can be found here. Insiders sold a total of 46,508 shares of company stock valued at $7,487,950 over the last three months. Corporate insiders own 5.90% of the company’s stock.

Nexstar Media Group Trading Up 2.0 %

NASDAQ NXST opened at $165.25 on Monday. Nexstar Media Group, Inc. has a 12 month low of $132.30 and a 12 month high of $187.32. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 2.90. The stock’s fifty day moving average price is $165.83 and its 200-day moving average price is $158.53. The stock has a market cap of $5.52 billion, a P/E ratio of 17.16, a P/E/G ratio of 0.62 and a beta of 1.50.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $3.32 earnings per share for the quarter, missing analysts’ consensus estimates of $4.42 by ($1.10). Nexstar Media Group had a return on equity of 14.06% and a net margin of 7.03%. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the firm earned $8.04 earnings per share. Nexstar Media Group’s revenue was down 12.3% on a year-over-year basis. As a group, equities analysts forecast that Nexstar Media Group, Inc. will post 26.73 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were given a $1.69 dividend. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.35. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend was Thursday, February 8th. Nexstar Media Group’s dividend payout ratio is presently 70.20%.

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.