Commerce Bank Sells 1,064 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Commerce Bank lessened its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 86,805 shares of the company’s stock after selling 1,064 shares during the period. Commerce Bank’s holdings in Nexstar Media Group were worth $14,353,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of NXST. GSA Capital Partners LLP increased its position in Nexstar Media Group by 211.2% during the third quarter. GSA Capital Partners LLP now owns 6,195 shares of the company’s stock valued at $1,024,000 after acquiring an additional 4,204 shares during the last quarter. Vanguard Group Inc. increased its position in Nexstar Media Group by 3.9% during the first quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock valued at $580,689,000 after acquiring an additional 127,783 shares during the last quarter. Cornercap Investment Counsel Inc. bought a new position in Nexstar Media Group during the second quarter valued at $570,000. AQR Capital Management LLC increased its position in Nexstar Media Group by 72.0% during the second quarter. AQR Capital Management LLC now owns 199,811 shares of the company’s stock valued at $32,769,000 after acquiring an additional 83,637 shares during the last quarter. Finally, Parcion Private Wealth LLC increased its position in Nexstar Media Group by 13.4% during the third quarter. Parcion Private Wealth LLC now owns 31,115 shares of the company’s stock valued at $5,145,000 after acquiring an additional 3,680 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Insiders Place Their Bets

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $160.00, for a total value of $160,000.00. Following the completion of the transaction, the director now directly owns 7,975 shares in the company, valued at approximately $1,276,000. The trade was a 11.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Perry A. Sook sold 12,239 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $190.28, for a total transaction of $2,328,836.92. Following the completion of the transaction, the chief executive officer now owns 674,694 shares of the company’s stock, valued at $128,380,774.32. This represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,903 shares of company stock worth $7,833,240. 6.30% of the stock is owned by corporate insiders.

Nexstar Media Group Stock Up 2.0 %

NASDAQ:NXST opened at $166.83 on Thursday. Nexstar Media Group, Inc. has a 1-year low of $141.38 and a 1-year high of $191.86. The company has a 50-day moving average of $168.76 and a 200 day moving average of $167.14. The firm has a market cap of $5.18 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 0.19 and a beta of 1.48. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period last year, the company earned $0.70 earnings per share. The firm’s revenue was up 20.7% compared to the same quarter last year. As a group, research analysts anticipate that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $1.69 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a yield of 4.05%. Nexstar Media Group’s dividend payout ratio is presently 39.10%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NXST. Loop Capital cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $200.00 to $190.00 in a research report on Friday, November 8th. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Wells Fargo & Company lowered their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Guggenheim lowered their target price on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $198.50.

About Nexstar Media Group

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.