Susquehanna Fundamental Investments LLC Purchases New Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Susquehanna Fundamental Investments LLC purchased a new position in Nexstar Media Group, Inc. (NASDAQ:NXST) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,600 shares of the company’s stock, valued at approximately $598,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Research Global Investors purchased a new stake in shares of Nexstar Media Group in the 1st quarter worth $92,323,000. Point72 Asset Management L.P. lifted its stake in Nexstar Media Group by 392.6% in the fourth quarter. Point72 Asset Management L.P. now owns 450,351 shares of the company’s stock worth $70,593,000 after acquiring an additional 358,920 shares during the period. Vanguard Group Inc. grew its holdings in Nexstar Media Group by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock worth $580,689,000 after acquiring an additional 127,783 shares in the last quarter. Payden & Rygel Investment Group bought a new position in Nexstar Media Group during the 1st quarter worth about $15,144,000. Finally, Global Assets Advisory LLC purchased a new position in Nexstar Media Group during the 1st quarter valued at about $14,421,000. 95.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NXST has been the topic of a number of recent research reports. Wells Fargo & Company dropped their price objective 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. StockNews.com downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Friday. Deutsche Bank Aktiengesellschaft decreased their price objective on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Benchmark reissued a “buy” rating and set a $225.00 price target on shares of Nexstar Media Group in a research report on Friday, August 9th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Nexstar Media Group has an average rating of “Moderate Buy” and an average price target of $201.67.

Nexstar Media Group Price Performance

Shares of NXST opened at $162.64 on Friday. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.78 and a quick ratio of 1.78. The company’s fifty day moving average price is $167.80 and its 200-day moving average price is $165.87. Nexstar Media Group, Inc. has a 1-year low of $132.30 and a 1-year high of $187.27. The firm has a market capitalization of $5.36 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 0.19 and a beta of 1.49.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly 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). The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.64 EPS. On average, equities research analysts predict that Nexstar Media Group, Inc. will post 25.72 EPS for the current year.

Nexstar Media Group Dividend Announcement

The firm 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 4.16%. The ex-dividend date was Friday, August 9th. Nexstar Media Group’s dividend payout ratio is presently 57.19%.

Insiders Place Their Bets

In other news, Director Charles Thomas Mcmillen sold 250 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $164.44, for a total value of $41,110.00. Following the sale, the director now owns 7,725 shares in the company, valued at $1,270,299. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Nexstar Media Group news, insider Gary Weitman sold 7,261 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $164.80, for a total value of $1,196,612.80. Following the completion of the transaction, the insider now directly owns 5,216 shares of the company’s stock, valued at $859,596.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles Thomas Mcmillen sold 250 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $164.44, for a total transaction of $41,110.00. Following the sale, the director now directly owns 7,725 shares in the company, valued at approximately $1,270,299. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,112 shares of company stock valued at $6,887,029. 5.90% of the stock is owned by insiders.

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.