Dynamic Technology Lab Private Ltd Takes $2.20 Million Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Dynamic Technology Lab Private Ltd bought a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 13,292 shares of the company's stock, valued at approximately $2,198,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Whittier Trust Co. acquired a new position in shares of Nexstar Media Group in the second quarter valued at $27,000. Allspring Global Investments Holdings LLC grew its holdings in shares of 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 in the last quarter. Capital Performance Advisors LLP acquired a new position in Nexstar Media Group during the 3rd quarter worth approximately $44,000. UMB Bank n.a. raised its holdings in shares of Nexstar Media Group by 117.8% in the third quarter. UMB Bank n.a. now owns 294 shares of the company's stock valued at $49,000 after purchasing an additional 159 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Nexstar Media Group by 112.2% during the second quarter. GAMMA Investing LLC now owns 295 shares of the company's stock worth $49,000 after purchasing an additional 156 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Nexstar Media Group Stock Performance

NASDAQ NXST traded up $1.04 during trading on Monday, hitting $170.79. 119,410 shares of the company's stock traded hands, compared to its average volume of 328,852. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 0.20 and a beta of 1.48. 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 business has a 50 day moving average of $168.98 and a 200-day moving average of $167.16. Nexstar Media Group, Inc. has a 12-month low of $141.38 and a 12-month high of $191.86.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing analysts' consensus estimates of $5.51 by ($0.24). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the business earned $0.70 earnings per share. Nexstar Media Group's revenue was up 20.7% on a year-over-year basis. As a group, equities research analysts anticipate that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

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

Insider Buying and Selling

In other Nexstar Media Group news, CEO Perry A. Sook sold 12,239 shares of Nexstar Media Group stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $190.28, for a total value of $2,328,836.92. Following the completion of the transaction, the chief executive officer now directly owns 674,694 shares of the company's stock, valued at approximately $128,380,774.32. The trade was a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles Thomas Mcmillen sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $160.00, for a total transaction of $160,000.00. Following the sale, the director now owns 7,975 shares in the company, valued at approximately $1,276,000. The trade was a 11.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,288 shares of company stock valued at $8,239,072 over the last quarter. Corporate insiders own 6.30% of the company's stock.

Analyst Ratings Changes

NXST has been the topic of a number of analyst reports. Loop Capital cut Nexstar Media Group from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $200.00 to $190.00 in a research note 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. Barrington Research reissued an "outperform" rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, November 7th. Wells Fargo & Company lowered their price objective on Nexstar Media Group from $221.00 to $209.00 and set an "overweight" rating for the company in a research note on Friday, August 9th. Finally, StockNews.com upgraded shares of Nexstar Media Group from a "hold" rating to a "buy" rating in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $198.50.

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.