Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Purchased by Quest Partners LLC

Quest Partners LLC raised its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 661.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,672 shares of the company's stock after purchasing an additional 7,533 shares during the period. Quest Partners LLC's holdings in Nexstar Media Group were worth $1,434,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Whittier Trust Co. acquired a new position in shares of Nexstar Media Group in the 2nd quarter valued at $27,000. Allspring Global Investments Holdings LLC increased its position in shares of 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 acquiring an additional 259 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Nexstar Media Group in the 3rd quarter valued at $44,000. UMB Bank n.a. boosted its holdings in Nexstar Media Group by 117.8% in the third quarter. UMB Bank n.a. now owns 294 shares of the company's stock valued at $49,000 after purchasing an additional 159 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Nexstar Media Group by 112.2% in 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 during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NXST has been the topic of several recent research reports. StockNews.com raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Loop Capital lowered shares of Nexstar Media Group from a "buy" rating to a "hold" rating and lowered their price target for the company from $200.00 to $190.00 in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft lowered 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. Guggenheim lowered their target price on shares of Nexstar Media Group from $200.00 to $198.00 and set a "buy" rating on the stock in a research note on Friday, October 4th. Finally, Wells Fargo & Company lowered their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an "overweight" rating on the stock in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $198.50.

Insider Transactions at Nexstar Media Group

In other news, EVP Rachel Morgan sold 6,196 shares of Nexstar Media Group stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $171.30, for a total transaction of $1,061,374.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew Alford sold 3,175 shares of Nexstar Media Group stock in a transaction 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 sale, the insider now directly owns 9,173 shares of the company's stock, valued at approximately $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. Insiders sold 47,361 shares of company stock worth $8,249,331 in the last 90 days. Insiders own 6.30% of the company's stock.

Nexstar Media Group Price Performance

NXST stock traded up $3.31 during mid-day trading on Wednesday, reaching $166.83. The company's stock had a trading volume of 330,289 shares, compared to its average volume of 329,723. The stock has a market cap of $5.18 billion, a PE ratio of 9.46, a P/E/G ratio of 0.19 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 fifty-two week low of $141.38 and a fifty-two week high of $191.86. The company's 50 day moving average is $168.64 and its two-hundred day moving average is $167.14.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing analysts' consensus estimates of $5.51 by ($0.24). The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm's revenue was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.70 EPS. Equities research analysts expect that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $1.69 per share. The ex-dividend date is Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.05%. Nexstar Media Group's dividend payout ratio is currently 39.10%.

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.