Wells Fargo & Company MN Has $7.33 Million Stock Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Wells Fargo & Company MN lessened its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXSTFree Report) by 11.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 46,751 shares of the company’s stock after selling 5,875 shares during the period. Wells Fargo & Company MN owned approximately 0.14% of Nexstar Media Group worth $7,328,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. SummerHaven Investment Management LLC grew its position in Nexstar Media Group by 1.8% during the 4th quarter. SummerHaven Investment Management LLC now owns 4,066 shares of the company’s stock worth $637,000 after acquiring an additional 70 shares during the last quarter. Signaturefd LLC grew its position in Nexstar Media Group by 20.3% during the 4th quarter. Signaturefd LLC now owns 420 shares of the company’s stock worth $66,000 after acquiring an additional 71 shares during the last quarter. Fifth Third Bancorp grew its position in Nexstar Media Group by 7.8% during the 4th quarter. Fifth Third Bancorp now owns 1,122 shares of the company’s stock worth $176,000 after acquiring an additional 81 shares during the last quarter. Quadrant Capital Group LLC grew its position in Nexstar Media Group by 41.1% during the 4th quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock worth $46,000 after acquiring an additional 86 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its position in Nexstar Media Group by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 19,999 shares of the company’s stock worth $2,867,000 after acquiring an additional 91 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Loop Capital upgraded Nexstar Media Group to a “strong-buy” rating in a research report on Friday, May 10th. Barrington Research restated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, May 9th. Rosenblatt Securities lowered their target price on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. Benchmark reissued a “buy” rating and issued a $225.00 target price on shares of Nexstar Media Group in a research note on Friday, May 10th. Finally, Wells Fargo & Company raised Nexstar Media Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $190.00 to $221.00 in a research note on Monday, May 13th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Nexstar Media Group has a consensus rating of “Moderate Buy” and a consensus price target of $206.00.

Get Our Latest Research Report on NXST

Insider Transactions at Nexstar Media Group

In other Nexstar Media Group news, Director John R. Muse sold 365 shares of Nexstar Media Group stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $160.00, for a total transaction of $58,400.00. Following the transaction, the director now directly owns 27,613 shares in the company, valued at $4,418,080. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Blake Russell sold 433 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $167.43, for a total value of $72,497.19. Following the sale, the executive vice president now directly owns 25,537 shares in the company, valued at $4,275,659.91. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John R. Muse sold 365 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $160.00, for a total value of $58,400.00. Following the completion of the sale, the director now owns 27,613 shares in the company, valued at $4,418,080. The disclosure for this sale can be found here. Insiders have sold 13,009 shares of company stock worth $2,166,731 in the last three months. Insiders own 5.90% of the company’s stock.

Nexstar Media Group Stock Down 1.0 %

NASDAQ:NXST opened at $156.74 on Friday. Nexstar Media Group, Inc. has a 12-month low of $132.30 and a 12-month high of $187.32. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 2.85. The firm has a market capitalization of $5.15 billion, a P/E ratio of 13.33, a P/E/G ratio of 0.57 and a beta of 1.48. The stock’s fifty day simple moving average is $164.97 and its 200-day simple moving average is $163.32.

Nexstar Media Group (NASDAQ:NXSTGet Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the company earned $2.97 EPS. The firm’s revenue was up 2.1% on a year-over-year basis. Equities research analysts expect that Nexstar Media Group, Inc. will post 27.62 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were given a $1.69 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.76 annualized dividend and a dividend yield of 4.31%. Nexstar Media Group’s dividend payout ratio is currently 57.19%.

Nexstar Media Group Company Profile

(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.

Featured Stories

Institutional Ownership by Quarter for Nexstar Media Group (NASDAQ:NXST)

Receive News & Ratings for Nexstar Media Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nexstar Media Group and related companies with MarketBeat.com's FREE daily email newsletter.