Bank of New York Mellon Corp Has $67.44 Million Position in Nexstar Media Group, Inc. $NXST

Bank of New York Mellon Corp cut its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 0.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 389,956 shares of the company’s stock after selling 1,516 shares during the period. Bank of New York Mellon Corp’s holdings in Nexstar Media Group were worth $67,443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of NXST. IFP Advisors Inc grew its stake in Nexstar Media Group by 375.0% in the 2nd quarter. IFP Advisors Inc now owns 152 shares of the company’s stock valued at $26,000 after buying an additional 120 shares during the last quarter. LRI Investments LLC bought a new stake in shares of Nexstar Media Group during the second quarter worth approximately $43,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Nexstar Media Group by 2,293.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 383 shares of the company’s stock worth $69,000 after acquiring an additional 367 shares during the period. SBI Securities Co. Ltd. grew its position in shares of Nexstar Media Group by 186.7% in the first quarter. SBI Securities Co. Ltd. now owns 453 shares of the company’s stock valued at $81,000 after purchasing an additional 295 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Nexstar Media Group by 38.9% during the second quarter. GAMMA Investing LLC now owns 514 shares of the company’s stock worth $89,000 after purchasing an additional 144 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Barrington Research restated an “outperform” rating and issued a $225.00 price target on shares of Nexstar Media Group in a research note on Tuesday, August 19th. Wells Fargo & Company lifted their target price on Nexstar Media Group from $206.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Guggenheim boosted their target price on shares of Nexstar Media Group from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Zacks Research upgraded shares of Nexstar Media Group to a “hold” rating in a research note on Friday, August 8th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Nexstar Media Group in a research report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Nexstar Media Group has a consensus rating of “Moderate Buy” and an average target price of $225.00.

Nexstar Media Group Stock Performance

NASDAQ:NXST opened at $190.65 on Monday. The company has a market cap of $5.78 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 1.40 and a beta of 0.99. Nexstar Media Group, Inc. has a fifty-two week low of $141.66 and a fifty-two week high of $223.36. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.69 and a current ratio of 1.69. The stock has a fifty day moving average price of $198.72 and a 200-day moving average price of $185.71.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, November 6th. The company reported $2.14 EPS for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.48). Nexstar Media Group had a net margin of 11.90% and a return on equity of 28.40%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the firm earned $5.27 EPS. The firm’s revenue for the quarter was down 12.3% compared to the same quarter last year. As a group, equities analysts anticipate that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th will be issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, November 12th. Nexstar Media Group’s dividend payout ratio is 46.13%.

Nexstar Media Group Company Profile

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.