Holocene Advisors LP Boosts Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Holocene Advisors LP raised its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 680.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,219 shares of the company's stock after purchasing an additional 15,014 shares during the quarter. Holocene Advisors LP owned about 0.06% of Nexstar Media Group worth $2,847,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in Nexstar Media Group during the 3rd quarter valued at approximately $25,000. Whittier Trust Co. purchased a new stake in shares of Nexstar Media Group during the second quarter worth approximately $27,000. True Wealth Design LLC acquired a new stake in shares of Nexstar Media Group during the third quarter worth $30,000. Allspring Global Investments Holdings LLC grew its position in Nexstar Media Group by 3,700.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company's stock valued at $44,000 after buying an additional 259 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in Nexstar Media Group in the 3rd quarter valued at $44,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nexstar Media Group

In related news, CEO Perry A. Sook sold 12,239 shares of the company's stock in a transaction on Thursday, November 7th. The stock was 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 in the company, valued at approximately $128,380,774.32. This represents a 1.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Charles Thomas Mcmillen sold 1,000 shares of Nexstar Media Group stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $160.00, for a total value of $160,000.00. Following the completion of the sale, the director now owns 7,975 shares of the company's stock, valued at $1,276,000. This trade represents a 11.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,423 shares of company stock worth $7,916,739. 6.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on NXST. Benchmark restated a "buy" rating and issued a $215.00 target price on shares of Nexstar Media Group in a research note on Friday, November 8th. Barrington Research restated an "outperform" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, November 7th. 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 research report on Friday, November 8th. Wells Fargo & Company reduced their price target on Nexstar Media Group from $221.00 to $209.00 and set an "overweight" rating for the company in a report on Friday, August 9th. Finally, StockNews.com raised Nexstar Media Group from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, Nexstar Media Group has an average rating of "Moderate Buy" and a consensus target price of $198.50.

Nexstar Media Group Price Performance

Shares of NXST stock traded down $0.92 during mid-day trading on Friday, reaching $170.17. The stock had a trading volume of 179,077 shares, compared to its average volume of 326,141. The company has a market cap of $5.28 billion, a P/E ratio of 9.90, a price-to-earnings-growth ratio of 0.20 and a beta of 1.45. 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, Inc. has a 12-month low of $141.56 and a 12-month high of $191.86. The business has a 50-day simple moving average of $169.85 and a 200 day simple moving average of $167.08.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing the consensus estimate of $5.51 by ($0.24). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.37 billion. During the same quarter last year, the business posted $0.70 earnings per share. The business's revenue was up 20.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date was Friday, November 15th. Nexstar Media Group's payout ratio is currently 39.10%.

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.