Bryce Point Capital LLC Invests $1.43 Million in Nexstar Media Group, Inc. (NASDAQ:NXST)

Bryce Point Capital LLC acquired a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 9,053 shares of the company's stock, valued at approximately $1,430,000.

Other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in Nexstar Media Group during the 4th quarter valued at $25,000. Wilmington Savings Fund Society FSB purchased a new position in Nexstar Media Group in the 3rd quarter valued at about $33,000. Jones Financial Companies Lllp grew its stake in shares of Nexstar Media Group by 15.3% during the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company's stock valued at $87,000 after acquiring an additional 73 shares in the last quarter. Quarry LP increased its position in shares of Nexstar Media Group by 111.1% during the third quarter. Quarry LP now owns 627 shares of the company's stock worth $104,000 after acquiring an additional 330 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of Nexstar Media Group by 99.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 786 shares of the company's stock worth $124,000 after acquiring an additional 392 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

Nexstar Media Group Stock Performance

Shares of Nexstar Media Group stock traded down $13.54 during trading hours on Friday, reaching $153.42. The company's stock had a trading volume of 930,637 shares, compared to its average volume of 358,800. Nexstar Media Group, Inc. has a one year low of $146.04 and a one year high of $191.86. The company's 50 day simple moving average is $164.06 and its 200 day simple moving average is $164.89. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The stock has a market cap of $4.68 billion, a P/E ratio of 8.87, a price-to-earnings-growth ratio of 0.45 and a beta of 1.09.

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Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported $7.56 earnings per share for the quarter, missing the consensus estimate of $9.22 by ($1.66). The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. As a group, analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a dividend of $1.86 per share. The ex-dividend date was Wednesday, February 12th. This represents a $7.44 dividend on an annualized basis and a yield of 4.85%. This is a positive change from Nexstar Media Group's previous quarterly dividend of $1.69. Nexstar Media Group's payout ratio is currently 34.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. StockNews.com downgraded Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Guggenheim lifted their price target on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Rosenblatt Securities reiterated a "buy" rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Monday, March 10th. Benchmark boosted their target price on shares of Nexstar Media Group from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Finally, Barrington Research restated an "outperform" rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Wednesday, March 5th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $208.43.

Insider Activity at Nexstar Media Group

In related news, insider Andrew Alford sold 3,768 shares of Nexstar Media Group stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total value of $685,700.64. Following the sale, the insider now directly owns 5,405 shares in the company, valued at $983,601.90. This trade represents a 41.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gary Weitman sold 1,241 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $177.21, for a total transaction of $219,917.61. Following the completion of the transaction, the insider now owns 3,975 shares of the company's stock, valued at approximately $704,409.75. This trade represents a 23.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,105 shares of company stock worth $6,722,463 in the last 90 days. 6.30% of the stock is currently owned by company insiders.

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.