Entropy Technologies LP Acquires Shares of 3,200 Nexstar Media Group, Inc. (NASDAQ:NXST)

Entropy Technologies LP bought a new position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,200 shares of the company's stock, valued at approximately $506,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. CX Institutional lifted its position in shares of Nexstar Media Group by 5.0% during the 3rd quarter. CX Institutional now owns 1,396 shares of the company's stock valued at $231,000 after buying an additional 67 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Nexstar Media Group by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company's stock valued at $1,073,000 after purchasing an additional 68 shares during the period. Blue Trust Inc. raised its stake in Nexstar Media Group by 7.3% during the 3rd quarter. Blue Trust Inc. now owns 1,088 shares of the company's stock valued at $181,000 after purchasing an additional 74 shares during the period. Natixis Advisors LLC increased its stake in Nexstar Media Group by 1.2% in the 3rd quarter. Natixis Advisors LLC now owns 10,185 shares of the company's stock worth $1,684,000 after acquiring an additional 117 shares during the last quarter. Finally, Davis Capital Management increased its stake in Nexstar Media Group by 2.0% in the 4th quarter. Davis Capital Management now owns 6,270 shares of the company's stock worth $990,000 after acquiring an additional 122 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Nexstar Media Group

In other news, CEO Perry A. Sook sold 52,808 shares of the company's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $157.41, for a total value of $8,312,507.28. Following the sale, the chief executive officer now owns 674,694 shares in the company, valued at $106,203,582.54. This represents a 7.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John R. Muse sold 2,385 shares of the company's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $170.16, for a total value of $405,831.60. Following the completion of the sale, the director now owns 25,978 shares in the company, valued at $4,420,416.48. The trade was a 8.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,209 shares of company stock valued at $21,499,239 in the last ninety days. Corporate insiders own 6.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NXST shares. Loop Capital cut Nexstar Media Group from a "buy" rating to a "hold" rating and dropped their target price for the stock from $200.00 to $190.00 in a report on Friday, November 8th. Barrington Research restated an "outperform" rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, November 7th. StockNews.com upgraded Nexstar Media Group from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Guggenheim reiterated a "buy" rating on shares of Nexstar Media Group in a report on Wednesday, January 22nd. Finally, Benchmark reiterated a "buy" rating and issued a $215.00 target price on shares of Nexstar Media Group in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Nexstar Media Group currently has an average rating of "Moderate Buy" and an average target price of $204.29.

Nexstar Media Group Stock Up 1.7 %

NASDAQ:NXST traded up $2.58 during mid-day trading on Friday, hitting $153.34. 278,985 shares of the company's stock traded hands, compared to its average volume of 259,050. The company has a fifty day moving average of $156.99 and a 200 day moving average of $164.29. Nexstar Media Group, Inc. has a twelve month low of $147.25 and a twelve month high of $191.86. The company has a market capitalization of $4.76 billion, a P/E ratio of 8.87, a P/E/G ratio of 0.44 and a beta of 1.45. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68.

Nexstar Media Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be given a dividend of $1.86 per share. This is a positive change from Nexstar Media Group's previous quarterly dividend of $1.69. This represents a $7.44 annualized dividend and a yield of 4.85%. The ex-dividend date is Wednesday, February 12th. Nexstar Media Group's dividend payout ratio is currently 39.10%.

Nexstar Media Group 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.