Bank of New York Mellon Corp Purchases 3,148 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Article Contents

Bank of New York Mellon Corp lifted its position in Nexstar Media Group, Inc. (NASDAQ:NXST – Get Rating) by 1.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 265,289 shares of the company’s stock after purchasing an additional 3,148 shares during the quarter. Bank of New York Mellon Corp owned about 0.70% of Nexstar Media Group worth $44,262,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Brandywine Global Investment Management LLC grew its position in Nexstar Media Group by 118.3% in the third quarter. Brandywine Global Investment Management LLC now owns 51,793 shares of the company’s stock worth $8,642,000 after acquiring an additional 28,066 shares in the last quarter. Commonwealth Equity Services LLC grew its position in Nexstar Media Group by 60.2% in the third quarter. Commonwealth Equity Services LLC now owns 21,849 shares of the company’s stock worth $3,645,000 after acquiring an additional 8,212 shares in the last quarter. Redwood Investment Management LLC purchased a new position in Nexstar Media Group in the third quarter worth about $1,264,000. Tudor Investment Corp Et Al grew its position in Nexstar Media Group by 269.5% in the third quarter. Tudor Investment Corp Et Al now owns 71,908 shares of the company’s stock worth $11,998,000 after acquiring an additional 52,448 shares in the last quarter. Finally, Signet Financial Management LLC grew its position in Nexstar Media Group by 2.6% in the third quarter. Signet Financial Management LLC now owns 3,132 shares of the company’s stock worth $523,000 after acquiring an additional 79 shares in the last quarter. 94.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Benchmark reiterated a “buy” rating and issued a $230.00 price target on shares of Nexstar Media Group in a research report on Monday, February 27th. StockNews.com lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Friday, March 3rd. Finally, Barrington Research restated an “outperform” rating and set a $235.00 target price on shares of Nexstar Media Group in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $222.00.

Insider Activity at Nexstar Media Group

In related news, Director Charles Thomas Mcmillen sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 20th. The stock was sold at an average price of $170.05, for a total value of $170,050.00. Following the completion of the sale, the director now owns 5,000 shares in the company, valued at $850,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Thomas Carter sold 1,400 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $182.92, for a total value of $256,088.00. Following the completion of the transaction, the chief operating officer now owns 80,052 shares of the company’s stock, valued at $14,643,111.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles Thomas Mcmillen sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 20th. The stock was sold at an average price of $170.05, for a total transaction of $170,050.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $850,250. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,900 shares of company stock worth $865,763. Company insiders own 5.00% of the company’s stock.

Nexstar Media Group Stock Up 2.0%

Shares of NASDAQ:NXST opened at $165.70 on Friday. Nexstar Media Group, Inc. has a 1 year low of $151.01 and a 1 year high of $217.76. The business has a 50 day simple moving average of $190.04 and a two-hundred day simple moving average of $182.84. The firm has a market capitalization of $6.09 billion, a PE ratio of 6.86, a price-to-earnings-growth ratio of 1.15 and a beta of 1.51. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.81 and a quick ratio of 1.81.

Nexstar Media Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 24th. Investors of record on Friday, February 10th were issued a $1.35 dividend. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, February 9th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.26%. Nexstar Media Group’s payout ratio is currently 22.36%.

Nexstar Media Group Profile

(Get Rating)

Nexstar Media Group, Inc is a television broadcasting and digital media company, which engages in the acquisition, development, and operation of television stations and interactive community websites and digital media services. The firm offers services free over-the-air programming which includes programs produced by networks with which the stations are affiliated, programs that the stations produce, and first-run and rerun syndicated programs that the stations acquire.