Capital Performance Advisors LLP Makes New $44,000 Investment in Nexstar Media Group, Inc. (NASDAQ:NXST)

Capital Performance Advisors LLP purchased a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 266 shares of the company’s stock, valued at approximately $44,000.

A number of other hedge funds have also modified their holdings of NXST. Whittier Trust Co. purchased a new stake in Nexstar Media Group in the 2nd quarter valued at about $27,000. Allspring Global Investments Holdings LLC lifted its holdings 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 worth $44,000 after acquiring an additional 259 shares during the last quarter. GAMMA Investing LLC lifted 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 worth $49,000 after acquiring an additional 156 shares during the last quarter. Mascoma Wealth Management LLC purchased a new position in shares of Nexstar Media Group during the 2nd quarter worth approximately $49,000. Finally, Quarry LP increased its holdings in Nexstar Media Group by 77.8% in the 2nd quarter. Quarry LP now owns 297 shares of the company’s stock valued at $49,000 after purchasing an additional 130 shares during the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Nexstar Media Group Stock Down 11.9 %

NXST stock opened at $166.04 on Monday. The company’s 50 day moving average price is $168.54 and its 200 day moving average price is $166.99. The firm has a market capitalization of $5.36 billion, a price-to-earnings ratio of 9.60, a PEG ratio of 0.19 and a beta of 1.48. Nexstar Media Group, Inc. has a fifty-two week low of $140.92 and a fifty-two week high of $191.86. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78.

Nexstar Media Group (NASDAQ:NXST) last announced 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 firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 25.72%. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.70 earnings per share. On average, equities research analysts anticipate that Nexstar Media Group, Inc. will post 25.72 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group’s dividend payout ratio is presently 39.10%.

Insiders Place Their Bets

In other news, insider Andrew Alford sold 3,175 shares of the stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $167.82, for a total value of $532,828.50. Following the transaction, the insider now owns 9,173 shares in the company, valued at approximately $1,539,412.86. This represents 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. 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 sale, the insider now directly owns 9,173 shares in the company, valued at $1,539,412.86. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gary Weitman sold 7,261 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $164.80, for a total transaction of $1,196,612.80. Following the completion of the transaction, the insider now owns 5,216 shares of the company’s stock, valued at $859,596.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,112 shares of company stock valued at $6,887,029 in the last ninety days. Insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

NXST has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft decreased their price target on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Barrington Research reissued an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday. Benchmark reaffirmed a “buy” rating and issued a $215.00 target price on shares of Nexstar Media Group in a research report on Friday. Wells Fargo & Company reduced their price target on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Finally, StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $198.50.

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.