Nexstar Media Group, Inc. $NXST Shares Acquired by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lifted its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 32.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,405 shares of the company’s stock after purchasing an additional 11,950 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Nexstar Media Group were worth $9,572,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of NXST. Integrated Wealth Concepts LLC acquired a new stake in Nexstar Media Group during the 1st quarter valued at approximately $499,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Nexstar Media Group by 49.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,870 shares of the company’s stock worth $2,844,000 after acquiring an additional 5,251 shares during the period. Millennium Management LLC raised its holdings in shares of Nexstar Media Group by 571.4% during the first quarter. Millennium Management LLC now owns 72,650 shares of the company’s stock worth $13,020,000 after purchasing an additional 61,830 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Nexstar Media Group by 14.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 132,809 shares of the company’s stock valued at $23,802,000 after purchasing an additional 16,637 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in Nexstar Media Group during the first quarter valued at $654,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

NXST has been the topic of several analyst reports. Citigroup cut their price target on Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft dropped their target price on Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Nexstar Media Group in a report on Monday, December 29th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Nexstar Media Group has an average rating of “Moderate Buy” and a consensus price target of $222.38.

Nexstar Media Group Stock Performance

Shares of NXST stock opened at $207.31 on Thursday. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 2.76. Nexstar Media Group, Inc. has a 12-month low of $141.66 and a 12-month high of $223.36. The business’s 50 day moving average is $202.93 and its two-hundred day moving average is $198.46. The company has a market capitalization of $6.29 billion, a P/E ratio of 12.85, a P/E/G ratio of 0.79 and a beta of 0.84.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, November 6th. The company reported $2.14 earnings per share for the quarter, missing the consensus estimate of $2.62 by ($0.48). Nexstar Media Group had a return on equity of 22.99% and a net margin of 10.02%.The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the company earned $5.27 earnings per share. The company’s quarterly revenue was down 12.3% compared to the same quarter last year. Analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.