FORA Capital LLC bought a new position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,308 shares of the company's stock, valued at approximately $712,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Brooklyn Investment Group bought a new stake in shares of Nexstar Media Group in the 3rd quarter valued at about $25,000. Whittier Trust Co. purchased a new stake in shares of Nexstar Media Group during the 2nd quarter worth $27,000. Allspring Global Investments Holdings LLC boosted its position 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 valued at $44,000 after purchasing an additional 259 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Nexstar Media Group in the third quarter valued at about $44,000. Finally, GAMMA Investing LLC lifted its position in shares of Nexstar Media Group by 112.2% during the second quarter. GAMMA Investing LLC now owns 295 shares of the company's stock valued at $49,000 after buying an additional 156 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.
Nexstar Media Group Stock Performance
Nexstar Media Group stock traded down $0.56 during mid-day trading on Friday, hitting $170.59. The company had a trading volume of 145,935 shares, compared to its average volume of 328,116. The company's fifty day moving average is $169.23 and its 200-day moving average is $167.15. Nexstar Media Group, Inc. has a 12-month low of $141.38 and a 12-month high of $191.86. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of 9.90, a P/E/G ratio of 0.20 and a beta of 1.48. 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 (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). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the company posted $0.70 EPS. The company's revenue was up 20.7% on a year-over-year basis. Equities research analysts predict that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.
Nexstar Media Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $1.69 dividend. This represents a $6.76 annualized dividend 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%.
Analyst Ratings Changes
A number of analysts have recently weighed in on the company. StockNews.com upgraded Nexstar Media Group from a "hold" rating to a "buy" rating in a research note on Friday, November 8th. Loop Capital lowered Nexstar Media Group from a "buy" rating to a "hold" rating and reduced their target price for the stock from $200.00 to $190.00 in a research note on Friday, November 8th. Benchmark reiterated a "buy" rating and set a $215.00 price target on shares of Nexstar Media Group in a research note on Friday, November 8th. Guggenheim reduced their price objective on Nexstar Media Group from $200.00 to $198.00 and set a "buy" rating for the company in a research note on Friday, October 4th. Finally, Barrington Research reiterated an "outperform" rating and issued a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Nexstar Media Group presently has a consensus rating of "Moderate Buy" and an average target price of $198.50.
View Our Latest Stock Analysis on Nexstar Media Group
Insider Activity
In other Nexstar Media Group news, CEO Perry A. Sook sold 12,239 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $190.28, for a total transaction of $2,328,836.92. Following the completion of the transaction, the chief executive officer now owns 674,694 shares of the company's stock, valued at $128,380,774.32. This represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brett Jenkins sold 4,331 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $170.64, for a total value of $739,041.84. Following the completion of the transaction, the insider now owns 25,540 shares in the company, valued at approximately $4,358,145.60. This trade represents a 14.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,423 shares of company stock worth $7,916,739 over the last three months. 6.30% of the stock is currently owned by corporate insiders.
Nexstar Media Group Company Profile
(
Free Report)
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.
See Also
![Institutional Ownership by Quarter for Nexstar Media Group (NASDAQ:NXST)](https://www.marketbeat.com/scripts/SECFilingChart.ashx?Prefix=NASDAQ&Symbol=NXST)
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