Bridgewater Associates LP Reduces Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Bridgewater Associates LP lowered its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 52.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,203 shares of the company's stock after selling 18,048 shares during the quarter. Bridgewater Associates LP owned 0.05% of Nexstar Media Group worth $2,679,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Brooklyn Investment Group acquired a new stake in shares of Nexstar Media Group during the third quarter worth $25,000. Whittier Trust Co. bought a new position in shares of Nexstar Media Group during the 2nd quarter worth about $27,000. Allspring Global Investments Holdings LLC grew its stake in Nexstar Media Group by 3,700.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company's stock worth $44,000 after buying an additional 259 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Nexstar Media Group during the third quarter valued at approximately $44,000. Finally, UMB Bank n.a. raised its stake in shares of Nexstar Media Group by 117.8% during the third quarter. UMB Bank n.a. now owns 294 shares of the company's stock worth $49,000 after buying an additional 159 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on NXST shares. StockNews.com upgraded shares of Nexstar Media Group from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Loop Capital downgraded 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 report on Friday, November 8th. Benchmark reaffirmed a "buy" rating and issued a $215.00 target price on shares of Nexstar Media Group in a report on Friday, November 8th. Guggenheim reduced their price target on Nexstar Media Group from $200.00 to $198.00 and set a "buy" rating on the stock in a report on Friday, October 4th. Finally, Barrington Research reiterated an "outperform" rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, Nexstar Media Group currently has a consensus rating of "Moderate Buy" and an average target price of $198.50.

Nexstar Media Group Trading Down 0.3 %

Shares of NASDAQ:NXST traded down $0.56 on Friday, reaching $170.59. 145,935 shares of the company traded hands, compared to its average volume of 396,657. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a 52 week low of $141.38 and a 52 week high of $191.86. The business's 50-day simple moving average is $169.31 and its 200 day simple moving average is $167.04. The stock has a market capitalization of $5.29 billion, a P/E ratio of 9.87, a price-to-earnings-growth ratio of 0.20 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued 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). The firm had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The company's revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.70 EPS. As a group, equities analysts anticipate that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a dividend yield of 3.96%. The ex-dividend date was Friday, November 15th. Nexstar Media Group's dividend payout ratio is currently 39.10%.

Insider Transactions at Nexstar Media Group

In other Nexstar Media Group news, insider Andrew Alford sold 3,175 shares of Nexstar Media Group stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $167.82, for a total value of $532,828.50. Following the transaction, the insider now owns 9,173 shares in the company, valued at $1,539,412.86. The trade was a 25.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brett Jenkins sold 4,331 shares of the business's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $170.64, for a total value of $739,041.84. Following the sale, the insider now owns 25,540 shares in the company, valued at $4,358,145.60. The trade was a 14.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,423 shares of company stock worth $7,916,739. 6.30% of the stock is currently owned by insiders.

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.