Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in Nexstar Media Group Inc (NASDAQ:NXST) by 68.7% during the third quarter, HoldingsChannel reports. The firm owned 3,099 shares of the company’s stock after selling 6,811 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Nexstar Media Group were worth $252,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC increased its holdings in Nexstar Media Group by 41.1% in the 3rd quarter. FMR LLC now owns 1,905,120 shares of the company’s stock valued at $155,077,000 after purchasing an additional 555,253 shares during the last quarter. BlackRock Inc. increased its holdings in Nexstar Media Group by 1.5% in the 3rd quarter. BlackRock Inc. now owns 3,059,335 shares of the company’s stock valued at $249,030,000 after purchasing an additional 44,316 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Nexstar Media Group by 7.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 11,726 shares of the company’s stock valued at $954,000 after purchasing an additional 794 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Nexstar Media Group by 50.5% in the 3rd quarter. Alliancebernstein L.P. now owns 94,676 shares of the company’s stock valued at $7,707,000 after purchasing an additional 31,752 shares during the last quarter. Finally, Jennison Associates LLC acquired a new stake in Nexstar Media Group in the 3rd quarter valued at approximately $442,000.
NASDAQ:NXST opened at $85.30 on Friday. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 1.03 and a beta of 1.75. The company has a debt-to-equity ratio of 2.34, a current ratio of 2.09 and a quick ratio of 2.09. Nexstar Media Group Inc has a 52 week low of $60.30 and a 52 week high of $89.75.
Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, November 8th. The company reported $2.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.97 by $0.15. The business had revenue of $693.00 million during the quarter, compared to the consensus estimate of $676.34 million. Nexstar Media Group had a net margin of 23.45% and a return on equity of 19.12%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 earnings per share. On average, sell-side analysts anticipate that Nexstar Media Group Inc will post 8.41 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Friday, November 16th were paid a $0.375 dividend. The ex-dividend date of this dividend was Thursday, November 15th. This represents a $1.50 annualized dividend and a dividend yield of 1.76%. Nexstar Media Group’s dividend payout ratio (DPR) is 37.69%.
Several research firms recently weighed in on NXST. Zacks Investment Research downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Saturday. Wolfe Research began coverage on shares of Nexstar Media Group in a report on Friday. They issued an “outperform” rating for the company. BidaskClub upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Wednesday. Stephens boosted their price target on shares of Nexstar Media Group from $94.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Benchmark restated a “buy” rating and issued a $115.00 price target (up previously from $96.00) on shares of Nexstar Media Group in a research note on Tuesday. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $95.80.
In related news, Director Jay M. Grossman sold 3,125 shares of the business’s stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $80.66, for a total transaction of $252,062.50. Following the completion of the transaction, the director now owns 50,000 shares in the company, valued at $4,033,000. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Keith P. Hopkins sold 1,625 shares of the business’s stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $80.35, for a total transaction of $130,568.75. Following the transaction, the senior vice president now owns 3,125 shares of the company’s stock, valued at approximately $251,093.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,925 shares of company stock valued at $1,954,553. Insiders own 6.40% of the company’s stock.
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Nexstar Media Group 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.
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