Bridgewater Associates LP Lowers Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Bridgewater Associates LP cut its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 22.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,620 shares of the company's stock after selling 3,583 shares during the period. Bridgewater Associates LP's holdings in Nexstar Media Group were worth $1,994,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Pacer Advisors Inc. increased its holdings in shares of Nexstar Media Group by 27,180.2% in the 4th quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company's stock valued at $190,650,000 after acquiring an additional 1,202,453 shares during the period. Norges Bank purchased a new stake in shares of Nexstar Media Group during the fourth quarter valued at about $44,460,000. Proficio Capital Partners LLC bought a new stake in shares of Nexstar Media Group in the 4th quarter valued at about $35,560,000. Invesco Ltd. grew its position in shares of Nexstar Media Group by 185.0% in the 4th quarter. Invesco Ltd. now owns 219,561 shares of the company's stock worth $34,684,000 after buying an additional 142,520 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Nexstar Media Group during the 4th quarter worth approximately $8,402,000. 95.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Nexstar Media Group

In related news, CEO Perry A. Sook sold 32,096 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $170.67, for a total transaction of $5,477,824.32. Following the sale, the chief executive officer now owns 806,019 shares in the company, valued at approximately $137,563,262.73. This trade represents a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew Alford sold 3,768 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $983,601.90. This trade represents a 41.08 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,105 shares of company stock valued at $6,722,463. 6.30% of the stock is owned by company insiders.

Nexstar Media Group Stock Performance

NXST traded down $0.30 during trading on Wednesday, reaching $150.14. 297,142 shares of the company's stock were exchanged, compared to its average volume of 372,593. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. Nexstar Media Group, Inc. has a 1 year low of $143.32 and a 1 year high of $191.86. The company's fifty day simple moving average is $163.35 and its 200-day simple moving average is $163.47. The stock has a market capitalization of $4.58 billion, a P/E ratio of 8.68, a price-to-earnings-growth ratio of 0.45 and a beta of 1.09.

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 business had revenue of $1.49 billion for 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%. As a group, research analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal 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 a boost from Nexstar Media Group's previous quarterly dividend of $1.69. This represents a $7.44 annualized dividend and a yield of 4.96%. The ex-dividend date was Wednesday, February 12th. Nexstar Media Group's dividend payout ratio (DPR) is currently 34.56%.

Analyst Ratings Changes

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

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.