Bank of New York Mellon Corp lessened its stake in shares of Nexstar Media Group Inc (NASDAQ:NXST) by 4.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,207,126 shares of the company’s stock after selling 56,657 shares during the period. Bank of New York Mellon Corp owned approximately 2.65% of Nexstar Media Group worth $88,603,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. GAM Holding AG purchased a new stake in Nexstar Media Group during the 2nd quarter valued at $593,000. Caerus Investors LLC purchased a new stake in Nexstar Media Group in the second quarter worth $2,196,000. King Luther Capital Management Corp purchased a new stake in Nexstar Media Group in the second quarter worth $2,079,000. Allianz Asset Management GmbH increased its stake in Nexstar Media Group by 43.6% in the first quarter. Allianz Asset Management GmbH now owns 24,294 shares of the company’s stock worth $1,616,000 after purchasing an additional 7,377 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in Nexstar Media Group by 12.1% in the second quarter. PNC Financial Services Group Inc. now owns 10,932 shares of the company’s stock worth $801,000 after purchasing an additional 1,178 shares during the period.
In other news, Director Lisbeth Mcnabb sold 1,400 shares of the stock in a transaction on Friday, September 14th. The stock was sold at an average price of $80.70, for a total transaction of $112,980.00. Following the transaction, the director now owns 1,725 shares of the company’s stock, valued at approximately $139,207.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Blake Russell sold 7,262 shares of the stock in a transaction on Wednesday, September 26th. The stock was sold at an average price of $82.90, for a total value of $602,019.80. Following the transaction, the executive vice president now directly owns 31,950 shares in the company, valued at approximately $2,648,655. The disclosure for this sale can be found here. Insiders have sold a total of 21,950 shares of company stock worth $1,796,747 in the last three months. Corporate insiders own 6.40% of the company’s stock.
NXST stock opened at $81.01 on Friday. The company has a debt-to-equity ratio of 2.59, a quick ratio of 2.43 and a current ratio of 2.43. Nexstar Media Group Inc has a twelve month low of $60.30 and a twelve month high of $89.75. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 1.00 and a beta of 1.76.
Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, November 8th. The company reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.15. Nexstar Media Group had a return on equity of 17.28% and a net margin of 22.07%. The business had revenue of $693.00 million for the quarter, compared to the consensus estimate of $676.34 million. During the same quarter in the prior year, the company earned $0.98 EPS. The business’s revenue was up 13.3% compared to the same quarter last year. Sell-side analysts predict that Nexstar Media Group Inc will post 8.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 16th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Thursday, November 15th. Nexstar Media Group’s payout ratio is 37.69%.
A number of analysts have weighed in on the company. ValuEngine lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Evercore ISI assumed coverage on Nexstar Media Group in a research note on Tuesday, July 31st. They issued an “in-line” rating and a $87.00 target price on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $87.00 target price on shares of Nexstar Media Group in a research note on Tuesday, July 24th. BidaskClub upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 18th. Finally, Stephens set a $94.00 target price on Nexstar Media Group and gave the stock a “buy” rating in a research note on Thursday, August 9th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $91.70.
Nexstar Media Group Company Profile
Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. It focuses on the acquisition, development, and operation of television stations and interactive community Websites in medium-sized markets. The company offers free over-the-air programming to television viewing audiences.
Further Reading: Understanding Analyst Ratings
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