Nexstar Media Group, Inc. (NASDAQ:NXST) Stock Holdings Reduced by Quantbot Technologies LP

Quantbot Technologies LP trimmed its stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 40.0% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 7,636 shares of the company's stock after selling 5,083 shares during the quarter. Quantbot Technologies LP's holdings in Nexstar Media Group were worth $1,263,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of NXST. Whittier Trust Co. bought a new position in Nexstar Media Group in the 2nd quarter worth approximately $27,000. Allspring Global Investments Holdings LLC increased its holdings in shares of 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 during the period. Capital Performance Advisors LLP acquired a new position in shares of Nexstar Media Group during the third quarter valued at $44,000. GAMMA Investing LLC raised its stake 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 purchasing an additional 156 shares in the last quarter. Finally, Mascoma Wealth Management LLC acquired a new stake in Nexstar Media Group in the second quarter worth about $49,000. Institutional investors and hedge funds own 95.30% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Loop Capital cut shares of Nexstar Media Group from a "buy" rating to a "hold" rating and lowered their target price for the company from $200.00 to $190.00 in a research note on Friday, November 8th. Wells Fargo & Company dropped their target price on Nexstar Media Group from $221.00 to $209.00 and set an "overweight" rating on the stock in a report on Friday, August 9th. Barrington Research restated an "outperform" rating and issued a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, November 7th. Guggenheim lowered their price target on Nexstar Media Group from $200.00 to $198.00 and set a "buy" rating on the stock in a research report on Friday, October 4th. Finally, StockNews.com upgraded Nexstar Media Group from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $198.50.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST traded down $0.56 during mid-day trading on Friday, reaching $170.59. The company had a trading volume of 145,935 shares, compared to its average volume of 396,657. The company has a 50-day moving average price of $169.31 and a two-hundred day moving average price of $167.04. The stock has a market cap of $5.29 billion, a PE ratio of 9.87, 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, Inc. has a 1-year low of $141.38 and a 1-year high of $191.86.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.37 billion. During the same period in the prior year, the business posted $0.70 EPS. The company's revenue for the quarter was up 20.7% compared to the same quarter last year. On average, equities analysts anticipate that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $1.69 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.96%. Nexstar Media Group's dividend payout ratio is currently 39.10%.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 1,000 shares of Nexstar Media Group stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $160.00, for a total transaction of $160,000.00. Following the transaction, the director now owns 7,975 shares of the company's stock, valued at $1,276,000. The trade was a 11.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Andrew Alford sold 3,175 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $167.82, for a total transaction of $532,828.50. Following the completion of the sale, the insider now directly owns 9,173 shares of the company's stock, valued at $1,539,412.86. This trade represents a 25.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,423 shares of company stock worth $7,916,739. 6.30% of the stock is owned by corporate insiders.

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.