Entropy Technologies LP Purchases New Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Entropy Technologies LP acquired a new position in Nexstar Media Group, Inc. (NASDAQ:NXST) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,200 shares of the company’s stock, valued at approximately $506,000.

Other hedge funds have also made changes to their positions in the company. Brooklyn Investment Group acquired a new position in shares of Nexstar Media Group during the third quarter worth $25,000. True Wealth Design LLC acquired a new stake in shares of Nexstar Media Group during the third quarter worth approximately $30,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Nexstar Media Group in the third quarter worth $33,000. Capital Performance Advisors LLP acquired a new position in Nexstar Media Group during the 3rd quarter worth $44,000. Finally, GAMMA Investing LLC grew its stake in Nexstar Media Group by 58.6% in the third quarter. GAMMA Investing LLC now owns 468 shares of the company’s stock worth $77,000 after purchasing an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Trading Down 2.2 %

Shares of NASDAQ:NXST opened at $149.75 on Thursday. The company’s 50-day moving average price is $157.74 and its two-hundred day moving average price is $164.87. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. Nexstar Media Group, Inc. has a one year low of $147.25 and a one year high of $191.86. The stock has a market capitalization of $4.65 billion, a PE ratio of 8.66, a price-to-earnings-growth ratio of 0.44 and a beta of 1.45.

Nexstar Media Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be given a dividend of $1.86 per share. The ex-dividend date is Wednesday, February 12th. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. This represents a $7.44 annualized dividend and a yield of 4.97%. Nexstar Media Group’s payout ratio is 39.10%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Loop Capital downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating and reduced their price target for the stock from $200.00 to $190.00 in a research report on Friday, November 8th. 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. Benchmark reissued a “buy” rating and set a $215.00 target price on shares of Nexstar Media Group in a research note on Friday, November 8th. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Guggenheim restated a “buy” rating on shares of Nexstar Media Group in a report on Wednesday, January 22nd. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $204.29.

Insiders Place Their Bets

In other Nexstar Media Group news, Director Bernadette S. Aulestia sold 500 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $164.45, for a total value of $82,225.00. Following the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at $328,900. This represents a 20.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Perry A. Sook sold 52,808 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $157.41, for a total transaction of $8,312,507.28. Following the completion of the transaction, the chief executive officer now directly owns 674,694 shares in the company, valued at approximately $106,203,582.54. This represents a 7.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 134,209 shares of company stock valued at $21,499,239 in the last three months. 6.30% of the stock is currently owned by corporate insiders.

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.