Tidal Investments LLC Purchases 1,178 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Tidal Investments LLC increased its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 57.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,217 shares of the company’s stock after acquiring an additional 1,178 shares during the quarter. Tidal Investments LLC’s holdings in Nexstar Media Group were worth $532,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in Nexstar Media Group in the third quarter worth approximately $25,000. Whittier Trust Co. bought a new position in Nexstar Media Group in the 2nd quarter worth $27,000. True Wealth Design LLC bought a new position in Nexstar Media Group in the 3rd quarter worth $30,000. Wilmington Savings Fund Society FSB purchased a new position in Nexstar Media Group during the third quarter valued at $33,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Nexstar Media Group by 3,700.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after purchasing an additional 259 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Barrington Research restated an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, November 7th. Guggenheim decreased their price objective on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Loop Capital cut Nexstar Media Group from a “buy” rating to a “hold” rating and decreased their price target for the company from $200.00 to $190.00 in a report on Friday, November 8th. Finally, Benchmark restated a “buy” rating and issued a $215.00 price objective on shares of Nexstar Media Group in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $204.29.

Nexstar Media Group Stock Performance

Nexstar Media Group stock opened at $158.49 on Monday. The company’s 50-day moving average price is $169.52 and its 200-day moving average price is $167.40. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The company has a market cap of $4.92 billion, a PE ratio of 9.17, a price-to-earnings-growth ratio of 0.20 and a beta of 1.45. Nexstar Media Group, Inc. has a twelve month low of $147.25 and a twelve month high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing the consensus estimate of $5.51 by ($0.24). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the firm earned $0.70 earnings per share. The company’s revenue was up 20.7% compared to the same quarter last year. On average, equities research analysts forecast that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend was Friday, November 15th. Nexstar Media Group’s dividend payout ratio is currently 39.10%.

Insider Transactions at Nexstar Media Group

In other news, CEO Perry A. Sook sold 35,205 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $162.13, for a total value of $5,707,786.65. Following the sale, the chief executive officer now directly owns 674,694 shares in the company, valued at approximately $109,388,138.22. This represents a 4.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Andrew Alford sold 3,175 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $167.82, for a total value of $532,828.50. Following the sale, the insider now directly owns 9,173 shares of the company’s stock, valued at $1,539,412.86. This represents a 25.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,221 shares of company stock worth $11,184,773. 6.30% of the stock is currently owned by insiders.

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.