Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Nexstar Media Group, Inc. (NASDAQ:NXST – Free Report) by 1.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,876 shares of the company’s stock after acquiring an additional 147 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Nexstar Media Group were worth $1,533,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Column Capital Advisors LLC boosted its holdings in Nexstar Media Group by 55.4% in the fourth quarter. Column Capital Advisors LLC now owns 174 shares of the company’s stock worth $30,000 after acquiring an additional 62 shares in the last quarter. LSV Asset Management boosted its holdings in Nexstar Media Group by 9.4% in the fourth quarter. LSV Asset Management now owns 1,309,370 shares of the company’s stock worth $229,179,000 after acquiring an additional 112,910 shares in the last quarter. Shelton Capital Management bought a new position in Nexstar Media Group in the fourth quarter worth approximately $335,000. Fiducient Advisors LLC bought a new position in Nexstar Media Group in the fourth quarter worth approximately $319,000. Finally, Gabelli Funds LLC lifted its holdings in shares of Nexstar Media Group by 1.7% in the fourth quarter. Gabelli Funds LLC now owns 65,050 shares of the company’s stock valued at $11,386,000 after purchasing an additional 1,100 shares in the last quarter. Institutional investors own 97.44% of the company’s stock.
Insider Activity at Nexstar Media Group
In other Nexstar Media Group news, EVP Blake Russell sold 626 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $161.81, for a total value of $101,293.06. Following the completion of the sale, the executive vice president now directly owns 33,793 shares of the company’s stock, valued at $5,468,045.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Nexstar Media Group news, EVP Rachel Morgan sold 937 shares of the firm’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $163.77, for a total value of $153,452.49. Following the completion of the sale, the executive vice president now directly owns 2,813 shares of the company’s stock, valued at $460,685.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Blake Russell sold 626 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $161.81, for a total value of $101,293.06. Following the completion of the transaction, the executive vice president now directly owns 33,793 shares of the company’s stock, valued at $5,468,045.33. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,443 shares of company stock valued at $4,778,645. 5.90% of the stock is owned by insiders.
Nexstar Media Group Stock Performance
Nexstar Media Group (NASDAQ:NXST – Get Free Report) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $2.64 EPS for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.24). The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Nexstar Media Group had a net margin of 13.31% and a return on equity of 29.41%. The business’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the business posted $5.56 earnings per share. As a group, sell-side analysts forecast that Nexstar Media Group, Inc. will post 13.15 earnings per share for the current year.
Nexstar Media Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Thursday, August 10th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Wednesday, August 9th. Nexstar Media Group’s payout ratio is 29.65%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on the company. StockNews.com assumed coverage on Nexstar Media Group in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Barrington Research restated an “outperform” rating and issued a $235.00 target price on shares of Nexstar Media Group in a report on Tuesday, August 8th. Finally, Guggenheim raised their target price on Nexstar Media Group from $216.00 to $220.00 in a report on Thursday, June 29th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $219.40.
Read Our Latest Report on NXST
About Nexstar Media Group
Nexstar Media Group, Inc, a television broadcasting and digital media company, focuses on the acquisition, development, and operation of television stations and interactive community websites and digital media services in the United States. The company offers free programming to television viewing audiences.
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