Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Purchased by Millennium Management LLC

Millennium Management LLC grew its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 1,857.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 23,827 shares of the company’s stock after buying an additional 22,610 shares during the quarter. Millennium Management LLC’s holdings in Nexstar Media Group were worth $3,956,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Chicago Partners Investment Group LLC acquired a new stake in shares of Nexstar Media Group in the fourth quarter valued at approximately $232,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Nexstar Media Group in the first quarter valued at about $2,111,000. Vanguard Group Inc. boosted its stake in shares of Nexstar Media Group by 3.9% during the first quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock worth $580,689,000 after buying an additional 127,783 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Nexstar Media Group by 116.3% during the first quarter. BNP Paribas Financial Markets now owns 30,384 shares of the company’s stock worth $5,235,000 after buying an additional 16,338 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. acquired a new position in Nexstar Media Group in the 2nd quarter valued at about $570,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Guggenheim decreased their price objective on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. StockNews.com downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Wells Fargo & Company cut their price objective 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. Finally, Barrington Research reissued an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Nexstar Media Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.14.

Insiders Place Their Bets

In other Nexstar Media Group news, insider Andrew Alford sold 3,175 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were 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 in the company, valued at $1,539,412.86. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Andrew Alford sold 3,175 shares of Nexstar Media Group stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $167.82, for a total transaction of $532,828.50. Following the transaction, the insider now owns 9,173 shares in the company, valued at approximately $1,539,412.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Lee Ann Gliha sold 984 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total transaction of $155,107.92. Following the sale, the chief financial officer now directly owns 8,107 shares of the company’s stock, valued at approximately $1,277,906.41. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,112 shares of company stock worth $6,887,029 over the last three months. 5.90% of the stock is owned by insiders.

Nexstar Media Group Price Performance

NXST stock opened at $169.67 on Monday. The stock has a market capitalization of $5.59 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 0.19 and a beta of 1.49. The stock’s fifty day simple moving average is $165.53 and its 200-day simple moving average is $165.80. Nexstar Media Group, Inc. has a 52-week low of $133.55 and a 52-week high of $187.27. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 2.92.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data 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 company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the company earned $2.64 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. Equities research analysts expect that Nexstar Media Group, Inc. will post 25.72 EPS for the current year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date was Friday, August 9th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 57.19%.

Nexstar Media Group 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.