AlphaQuest LLC Sells 8,252 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

AlphaQuest LLC lowered its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 95.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 420 shares of the company's stock after selling 8,252 shares during the period. AlphaQuest LLC's holdings in Nexstar Media Group were worth $66,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in NXST. Wealth Enhancement Advisory Services LLC raised its holdings in Nexstar Media Group by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company's stock valued at $1,073,000 after acquiring an additional 68 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Nexstar Media Group by 15.3% in the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company's stock valued at $87,000 after purchasing an additional 73 shares in the last quarter. Natixis Advisors LLC lifted its position in Nexstar Media Group by 1.2% in the third quarter. Natixis Advisors LLC now owns 10,185 shares of the company's stock worth $1,684,000 after purchasing an additional 117 shares during the period. Davis Capital Management boosted its stake in Nexstar Media Group by 2.0% during the fourth quarter. Davis Capital Management now owns 6,270 shares of the company's stock worth $990,000 after buying an additional 122 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in Nexstar Media Group by 5.8% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 2,518 shares of the company's stock worth $398,000 after buying an additional 137 shares in the last quarter. Institutional investors own 95.30% of the company's stock.

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Analyst Ratings Changes

Several brokerages have issued reports on NXST. Guggenheim boosted their price target on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a "buy" rating in a report on Friday, February 28th. Rosenblatt Securities reissued a "buy" rating and issued a $200.00 price target on shares of Nexstar Media Group in a report on Monday, March 10th. Benchmark boosted their price target on shares of Nexstar Media Group from $200.00 to $225.00 and gave the company a "buy" rating in a report on Friday, February 28th. Barrington Research reissued an "outperform" rating and issued a $200.00 price target on shares of Nexstar Media Group in a report on Wednesday, March 5th. Finally, StockNews.com lowered shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Nexstar Media Group has an average rating of "Moderate Buy" and an average price target of $208.43.

Insider Buying and Selling

In related news, CEO Perry A. Sook sold 52,808 shares of the company's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $157.41, for a total transaction of $8,312,507.28. Following the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Lee Ann Gliha sold 330 shares of the company's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $158.23, for a total transaction of $52,215.90. Following the transaction, the chief financial officer now owns 8,610 shares in the company, valued at approximately $1,362,360.30. This trade represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 126,250 shares of company stock worth $20,450,616 in the last 90 days. Corporate insiders own 6.30% of the company's stock.

Nexstar Media Group Price Performance

Shares of NASDAQ:NXST traded down $0.39 on Friday, hitting $176.99. The stock had a trading volume of 2,599,603 shares, compared to its average volume of 341,037. Nexstar Media Group, Inc. has a twelve month low of $146.04 and a twelve month high of $191.86. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The firm's 50 day moving average price is $159.66 and its 200-day moving average price is $164.04. The company has a market capitalization of $5.40 billion, a price-to-earnings ratio of 10.24, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47.

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

Nexstar Media Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a dividend of $1.86 per share. This is an increase from Nexstar Media Group's previous quarterly dividend of $1.69. The ex-dividend date was Wednesday, February 12th. This represents a $7.44 annualized dividend and a yield of 4.20%. Nexstar Media Group's dividend payout ratio is 34.56%.

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.