BNP Paribas Financial Markets Acquires 3,338 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

BNP Paribas Financial Markets increased its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 31.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,046 shares of the company’s stock after purchasing an additional 3,338 shares during the quarter. BNP Paribas Financial Markets’ holdings in Nexstar Media Group were worth $2,202,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in NXST. Channing Capital Management LLC raised its position in shares of Nexstar Media Group by 738.8% during the third quarter. Channing Capital Management LLC now owns 506,212 shares of the company’s stock valued at $72,576,000 after buying an additional 445,859 shares during the last quarter. Boston Financial Mangement LLC boosted its holdings in shares of Nexstar Media Group by 156.5% during the 3rd quarter. Boston Financial Mangement LLC now owns 238,670 shares of the company’s stock valued at $34,218,000 after purchasing an additional 145,617 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Nexstar Media Group by 15,107.2% during the fourth quarter. International Assets Investment Management LLC now owns 122,570 shares of the company’s stock valued at $19,213,000 after purchasing an additional 121,764 shares in the last quarter. New York State Common Retirement Fund increased its holdings in shares of Nexstar Media Group by 71.0% in the third quarter. New York State Common Retirement Fund now owns 249,679 shares of the company’s stock worth $35,796,000 after purchasing an additional 103,636 shares during the last quarter. Finally, LSV Asset Management lifted its position in shares of Nexstar Media Group by 5.5% in the fourth quarter. LSV Asset Management now owns 1,384,505 shares of the company’s stock worth $217,021,000 after buying an additional 72,462 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Nexstar Media Group Stock Performance

Shares of NASDAQ:NXST opened at $158.25 on Friday. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 2.85. Nexstar Media Group, Inc. has a 12 month low of $132.30 and a 12 month high of $187.32. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 0.57 and a beta of 1.50. The firm’s 50-day moving average is $165.95 and its 200 day moving average is $162.51.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, May 9th. The company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.28 by $0.88. Nexstar Media Group had a return on equity of 17.18% and a net margin of 8.29%. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the prior year, the firm posted $2.97 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. Research analysts predict that Nexstar Media Group, Inc. will post 27.62 EPS for the current year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were given a dividend of $1.69 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.76 annualized dividend and a dividend yield of 4.27%. Nexstar Media Group’s dividend payout ratio (DPR) is 57.19%.

Insider Transactions at Nexstar Media Group

In related news, Director Charles Thomas Mcmillen sold 1,475 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $166.08, for a total value of $244,968.00. Following the transaction, the director now owns 6,175 shares of the company’s stock, valued at approximately $1,025,544. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Charles Thomas Mcmillen sold 1,475 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $166.08, for a total value of $244,968.00. Following the transaction, the director now owns 6,175 shares of the company’s stock, valued at $1,025,544. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Gary Weitman sold 432 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $167.43, for a total value of $72,329.76. Following the transaction, the insider now owns 10,902 shares in the company, valued at $1,825,321.86. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,848 shares of company stock worth $7,877,745. 5.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on NXST shares. Benchmark reaffirmed a “buy” rating and issued a $225.00 price objective on shares of Nexstar Media Group in a research note on Friday, May 10th. TheStreet raised shares of Nexstar Media Group from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Barrington Research reiterated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, May 9th. Wells Fargo & Company upgraded shares of Nexstar Media Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $190.00 to $221.00 in a report on Monday, May 13th. Finally, Loop Capital raised shares of Nexstar Media Group to a “strong-buy” rating in a report on Friday, May 10th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.00.

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.