Commerce Bank Has $10.75 Million Stock Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Commerce Bank grew its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 2.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,602 shares of the company’s stock after acquiring an additional 1,936 shares during the period. Commerce Bank owned 0.20% of Nexstar Media Group worth $10,753,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NXST. EverSource Wealth Advisors LLC increased its holdings in Nexstar Media Group by 632.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock worth $32,000 after buying an additional 177 shares during the last quarter. Assetmark Inc. increased its stake in shares of Nexstar Media Group by 1.3% during the 4th quarter. Assetmark Inc. now owns 62,672 shares of the company’s stock worth $9,824,000 after purchasing an additional 787 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Nexstar Media Group during the 4th quarter worth $666,000. Corient Private Wealth LLC raised its holdings in shares of Nexstar Media Group by 0.9% during the 4th quarter. Corient Private Wealth LLC now owns 16,533 shares of the company’s stock valued at $2,591,000 after purchasing an additional 143 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its holdings in Nexstar Media Group by 18.6% in the fourth quarter. D.A. Davidson & CO. now owns 21,933 shares of the company’s stock worth $3,438,000 after purchasing an additional 3,442 shares in the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nexstar Media Group

In related news, EVP Blake Russell sold 433 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $167.43, for a total transaction of $72,497.19. Following the completion of the sale, the executive vice president now owns 25,537 shares in the company, valued at approximately $4,275,659.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Blake Russell sold 433 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $167.43, for a total value of $72,497.19. Following the transaction, the executive vice president now owns 25,537 shares in the company, valued at $4,275,659.91. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sean Compton sold 3,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $162.61, for a total value of $487,830.00. Following the sale, the insider now directly owns 9,489 shares of the company’s stock, valued at $1,543,006.29. The disclosure for this sale can be found here. Insiders have sold 48,848 shares of company stock worth $7,877,745 over the last three months. Company insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Benchmark reaffirmed a “buy” rating and issued a $225.00 price target on shares of Nexstar Media Group in a research report on Friday, May 10th. Wells Fargo & Company raised Nexstar Media Group from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $190.00 to $221.00 in a research report on Monday, May 13th. Loop Capital raised shares of Nexstar Media Group to a “strong-buy” rating in a research report on Friday, May 10th. Barrington Research reiterated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, May 9th. Finally, TheStreet raised shares of Nexstar Media Group from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $206.00.

Nexstar Media Group Stock Performance

Shares of NASDAQ NXST traded up $0.62 during mid-day trading on Friday, hitting $158.25. The company had a trading volume of 346,509 shares, compared to its average volume of 318,293. Nexstar Media Group, Inc. has a 12 month low of $132.30 and a 12 month high of $187.32. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.80 and a quick ratio of 1.80. The firm has a market cap of $5.20 billion, a P/E ratio of 13.39, a PEG ratio of 0.57 and a beta of 1.50. The business’s 50-day simple moving average is $165.95 and its 200-day simple moving average is $162.51.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, May 9th. The company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.28 by $0.88. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. Nexstar Media Group had a return on equity of 17.18% and a net margin of 8.29%. Nexstar Media Group’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.97 EPS. As a group, analysts predict that Nexstar Media Group, Inc. will post 27.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were paid a $1.69 dividend. This represents a $6.76 annualized dividend and a yield of 4.27%. The ex-dividend date was Thursday, May 9th. Nexstar Media Group’s dividend payout ratio is 57.19%.

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.