EntryPoint Capital LLC Takes $340,000 Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

EntryPoint Capital LLC bought a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,154 shares of the company's stock, valued at approximately $340,000.

Several other large investors also recently modified their holdings of NXST. LPL Financial LLC grew its position in shares of Nexstar Media Group by 9.8% during the fourth quarter. LPL Financial LLC now owns 20,506 shares of the company's stock worth $3,166,000 after buying an additional 1,828 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Nexstar Media Group in the fourth quarter valued at $1,264,000. AXQ Capital LP bought a new position in Nexstar Media Group during the 4th quarter valued at $408,000. Hillsdale Investment Management Inc. acquired a new position in Nexstar Media Group during the 4th quarter worth $790,000. Finally, Sei Investments Co. grew its holdings in Nexstar Media Group by 2.2% during the 4th quarter. Sei Investments Co. now owns 40,138 shares of the company's stock worth $6,341,000 after acquiring an additional 859 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NXST has been the topic of a number of recent analyst reports. Benchmark upped their target price on shares of Nexstar Media Group from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Rosenblatt Securities restated a "buy" rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Monday, March 10th. Loop Capital upgraded Nexstar Media Group from a "hold" rating to a "buy" rating and lifted their target price for the stock from $190.00 to $200.00 in a research report on Friday, February 28th. Guggenheim boosted their price target on Nexstar Media Group from $210.00 to $220.00 and gave the company a "buy" rating in a report on Friday, February 28th. Finally, StockNews.com cut Nexstar Media Group from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $208.43.

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Insiders Place Their Bets

In other Nexstar Media Group news, insider Andrew Alford sold 3,768 shares of the business's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.98, for a total transaction of $685,700.64. Following the completion of the transaction, the insider now owns 5,405 shares in the company, valued at approximately $983,601.90. The trade was a 41.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles Thomas Mcmillen sold 2,000 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $169.51, for a total value of $339,020.00. Following the transaction, the director now directly owns 4,975 shares in the company, valued at $843,312.25. This trade represents a 28.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,105 shares of company stock worth $6,722,463. Insiders own 6.30% of the company's stock.

Nexstar Media Group Stock Performance

Shares of NASDAQ NXST traded up $2.77 during mid-day trading on Monday, hitting $179.22. The company had a trading volume of 373,895 shares, compared to its average volume of 351,744. Nexstar Media Group, Inc. has a 12 month low of $146.04 and a 12 month high of $191.86. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 0.45 and a beta of 1.47. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. The firm's 50 day simple moving average is $162.89 and its two-hundred day simple moving average is $164.76.

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

Nexstar Media Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 4.15%. This is a positive change from Nexstar Media Group's previous quarterly dividend of $1.69. The ex-dividend date of this dividend was Wednesday, February 12th. Nexstar Media Group's payout ratio is presently 34.56%.

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.