Caxton Associates LP Makes New Investment in Nexstar Media Group, Inc. (NASDAQ:NXST)

Caxton Associates LP purchased a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) during the 2nd quarter, HoldingsChannel reports. The firm purchased 5,068 shares of the company’s stock, valued at approximately $841,000.

A number of other hedge funds have also modified their holdings of the company. Whittier Trust Co. acquired a new stake in shares of Nexstar Media Group during the second quarter worth about $27,000. Allspring Global Investments Holdings LLC lifted its stake in Nexstar Media Group by 3,700.0% during 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. GAMMA Investing LLC boosted its holdings in shares of Nexstar Media Group by 112.2% in the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock valued at $49,000 after acquiring an additional 156 shares during the last quarter. Mascoma Wealth Management LLC acquired a new stake in shares of Nexstar Media Group in the second quarter worth $49,000. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of Nexstar Media Group in the first quarter worth $85,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group Stock Performance

NASDAQ NXST opened at $164.73 on Friday. The stock has a market capitalization of $5.43 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 0.19 and a beta of 1.49. The stock has a 50-day moving average of $168.70 and a 200 day moving average of $165.89. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 2.92. Nexstar Media Group, Inc. has a twelve month low of $132.30 and a twelve month high of $187.27.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $4.48 by ($0.94). Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the company earned $2.64 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Sell-side analysts anticipate that Nexstar Media Group, Inc. will post 25.72 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 4.10%. The ex-dividend date was Friday, August 9th. Nexstar Media Group’s payout ratio is 57.19%.

Analyst Ratings Changes

NXST has been the topic of several recent research reports. Benchmark reaffirmed a “buy” rating and issued a $225.00 price target on shares of Nexstar Media Group in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft dropped their target price on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, August 9th. 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 research report on Friday, August 9th. StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Barrington Research reaffirmed an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $201.67.

Insider Buying and Selling at Nexstar Media Group

In other news, insider Sean Compton sold 3,930 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $160.61, for a total transaction of $631,197.30. Following the completion of the sale, the insider now owns 10,684 shares of the company’s stock, valued at $1,715,957.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Lee Ann Gliha sold 984 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total value of $155,107.92. Following the transaction, the chief financial officer now owns 8,107 shares in the company, valued at $1,277,906.41. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sean Compton sold 3,930 shares of Nexstar Media Group stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $160.61, for a total value of $631,197.30. Following the completion of the sale, the insider now directly owns 10,684 shares in the company, valued at $1,715,957.24. The disclosure for this sale can be found here. Insiders have sold a total of 33,851 shares of company stock valued at $5,690,416 over the last ninety days. Corporate insiders own 5.90% of the company’s stock.

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.