Latest Stocks: BNP Paribas Arbitrage SA Buys 58,455 Shares of Nexstar Media Group Inc (NXST)

Latest Stocks: BNP Paribas Arbitrage SA Buys 58,455 Shares of Nexstar Media Group Inc (NXST)

BNP Paribas Arbitrage SA increased its position in shares of Nexstar Media Group Inc (NASDAQ:NXST) by 5,561.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,506 shares of the company’s stock after buying an additional 58,455 shares during the period. BNP Paribas Arbitrage SA owned approximately 0.13% of Nexstar Media Group worth $4,174,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in Nexstar Media Group by 1.0% in the first quarter. Bank of New York Mellon Corp now owns 2,098,247 shares of the company’s stock worth $147,191,000 after buying an additional 21,029 shares during the last quarter. US Bancorp DE boosted its stake in shares of Nexstar Media Group by 8,630.5% in the first quarter. US Bancorp DE now owns 10,302 shares of the company’s stock valued at $723,000 after buying an additional 10,184 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of Nexstar Media Group by 4.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 6,630 shares of the company’s stock valued at $465,000 after buying an additional 311 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Nexstar Media Group by 60.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 16,750 shares of the company’s stock valued at $1,175,000 after buying an additional 6,307 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Nexstar Media Group by 39.3% in the first quarter. Great West Life Assurance Co. Can now owns 4,828 shares of the company’s stock valued at $338,000 after buying an additional 1,363 shares in the last quarter.

Nexstar Media Group Inc (NASDAQ NXST) opened at 58.10 on Tuesday. The company has a market cap of $2.74 billion, a P/E ratio of 26.99 and a beta of 2.22. Nexstar Media Group Inc has a 12 month low of $44.75 and a 12 month high of $73.90. The stock has a 50 day moving average of $62.39 and a 200-day moving average of $64.73.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Tuesday, May 9th. The company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.71. Nexstar Media Group had a return on equity of 64.45% and a net margin of 9.39%. The company had revenue of $540.32 million for the quarter, compared to analyst estimates of $525.76 million. During the same quarter in the prior year, the firm posted $0.69 EPS. Nexstar Media Group’s quarterly revenue was up 111.3% compared to the same quarter last year. Equities research analysts expect that Nexstar Media Group Inc will post $3.35 EPS for the current year. The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 26th. Shareholders of record on Friday, May 12th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.07%. The ex-dividend date was Wednesday, May 10th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 38.59%.

Several analysts have recently commented on the stock. Jefferies Group LLC reissued a “buy” rating and set a $80.00 price target (up from $60.00) on shares of Nexstar Media Group in a research note on Friday, March 3rd. Royal Bank of Canada assumed coverage on shares of Nexstar Media Group in a report on Tuesday, March 14th. They issued an “outperform” rating and a $83.00 price objective on the stock. Benchmark Co. restated a “buy” rating and issued a $89.00 price objective (up from $70.00) on shares of Nexstar Media Group in a report on Wednesday, March 1st. Wedbush increased their target price on shares of Nexstar Media Group from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, March 1st. Finally, Zacks Investment Research upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Friday, May 5th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $75.63. In other Nexstar Media Group news, Director John R. Muse sold 5,516 shares of the company’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $70.06, for a total value of $386,450.96. Following the transaction, the director now owns 7,405 shares of the company’s stock, valued at approximately $518,794.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Elizabeth Ryder sold 1,000 shares of the company’s stock in a transaction on Friday, March 24th. The shares were sold at an average price of $70.00, for a total value of $70,000.00. Following the completion of the transaction, the executive vice president now directly owns 3,210 shares in the company, valued at approximately $224,700. The disclosure for this sale can be found here. Insiders sold a total of 46,147 shares of company stock worth $3,234,500 in the last ninety days. 7.80% of the stock is currently owned by corporate insiders.

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