Harbor Capital Advisors Inc. Boosts Stock Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Harbor Capital Advisors Inc. grew its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 159.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,987 shares of the company's stock after acquiring an additional 6,136 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Nexstar Media Group were worth $1,651,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in NXST. CX Institutional increased its stake in shares of Nexstar Media Group by 5.0% in the third quarter. CX Institutional now owns 1,396 shares of the company's stock worth $231,000 after buying an additional 67 shares during the period. Granite Group Advisors LLC increased its stake in shares of Nexstar Media Group by 5.1% in the first quarter. Granite Group Advisors LLC now owns 1,489 shares of the company's stock worth $257,000 after buying an additional 72 shares during the period. Blue Trust Inc. increased its stake in shares of Nexstar Media Group by 7.3% in the third quarter. Blue Trust Inc. now owns 1,088 shares of the company's stock worth $181,000 after buying an additional 74 shares during the period. Klein Pavlis & Peasley Financial Inc. increased its stake in shares of Nexstar Media Group by 0.6% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,903 shares of the company's stock worth $2,308,000 after buying an additional 87 shares during the period. Finally, SummerHaven Investment Management LLC increased its stake in shares of Nexstar Media Group by 2.3% in the second quarter. SummerHaven Investment Management LLC now owns 4,217 shares of the company's stock worth $700,000 after buying an additional 96 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. StockNews.com cut shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Friday, October 4th. Benchmark cut their price target on shares of Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating on the stock in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Nexstar Media Group from $207.00 to $205.00 and set a "buy" rating on the stock in a report on Friday, August 9th. Barrington Research reiterated an "outperform" rating and issued a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, August 8th. Finally, Wells Fargo & Company cut their price target on shares of Nexstar Media Group from $221.00 to $209.00 and set an "overweight" rating on the stock in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $199.71.

Insiders Place Their Bets

In other news, insider Gary Weitman sold 7,261 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $164.80, for a total value of $1,196,612.80. Following the completion of the sale, the insider now directly owns 5,216 shares of the company's stock, valued at $859,596.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Gary Weitman sold 7,261 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $164.80, for a total value of $1,196,612.80. Following the completion of the sale, the insider now directly owns 5,216 shares of the company's stock, valued at $859,596.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Lee Ann Gliha sold 984 shares of the firm's stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total transaction of $155,107.92. Following the transaction, the chief financial officer now directly owns 8,107 shares of the company's stock, valued at $1,277,906.41. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,112 shares of company stock worth $6,887,029. Company insiders own 6.30% of the company's stock.

Nexstar Media Group Stock Performance

Nexstar Media Group stock traded up $10.38 during midday trading on Wednesday, reaching $183.25. 719,458 shares of the company traded hands, compared to its average volume of 322,903. The firm has a market capitalization of $5.91 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 0.20 and a beta of 1.48. The business has a 50 day moving average of $167.96 and a two-hundred day moving average of $166.64. Nexstar Media Group, Inc. has a 12 month low of $140.92 and a 12 month high of $187.27. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.78 and a quick ratio of 1.78.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $4.48 by ($0.94). Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the business posted $2.64 earnings per share. The firm's revenue was up 2.3% on a year-over-year basis. As a group, research analysts predict that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $1.69 dividend. The ex-dividend date is Friday, November 15th. This represents a $6.76 annualized dividend and a yield of 3.69%. Nexstar Media Group's payout ratio is presently 53.14%.

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.