City Center Advisors LLC Takes Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

City Center Advisors LLC acquired a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,412 shares of the company’s stock, valued at approximately $223,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in shares of Nexstar Media Group by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock valued at $220,189,000 after buying an additional 62,331 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Nexstar Media Group by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company’s stock valued at $179,149,000 after acquiring an additional 7,117 shares in the last quarter. Copeland Capital Management LLC boosted its stake in Nexstar Media Group by 18.1% during the 3rd quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock valued at $90,567,000 after purchasing an additional 83,829 shares during the last quarter. AQR Capital Management LLC boosted its stake in Nexstar Media Group by 72.0% during the 2nd quarter. AQR Capital Management LLC now owns 199,811 shares of the company’s stock valued at $32,769,000 after purchasing an additional 83,637 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of Nexstar Media Group by 6.1% in the third quarter. New York State Common Retirement Fund now owns 189,673 shares of the company’s stock worth $31,362,000 after purchasing an additional 10,938 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Nexstar Media Group Stock Up 0.5 %

NXST opened at $151.23 on Tuesday. Nexstar Media Group, Inc. has a twelve month low of $147.25 and a twelve month high of $191.86. The company’s 50-day moving average price is $165.40 and its two-hundred day moving average price is $167.83. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of 8.75, a PEG ratio of 0.20 and a beta of 1.45. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group (NASDAQ:NXST) last announced 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). The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. Nexstar Media Group’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period last year, the company posted $0.70 earnings per share. As a group, equities analysts expect that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 4.47%. The ex-dividend date was Friday, November 15th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 39.10%.

Analysts Set New Price Targets

Several brokerages recently issued reports on NXST. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Loop Capital lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating and reduced their target price for the stock from $200.00 to $190.00 in a research note on Friday, November 8th. Barrington Research reissued an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, November 7th. Benchmark reaffirmed a “buy” rating and issued a $215.00 price objective on shares of Nexstar Media Group in a research report on Friday, November 8th. Finally, Guggenheim dropped their target price 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. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.29.

Insiders Place Their Bets

In other Nexstar Media Group news, insider Brett Jenkins sold 4,331 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $170.64, for a total value of $739,041.84. Following the completion of the transaction, the insider now owns 25,540 shares in the company, valued at $4,358,145.60. This trade represents a 14.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Perry A. Sook sold 52,808 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $157.41, for a total value of $8,312,507.28. Following the sale, the chief executive officer now 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 sold 146,448 shares of company stock worth $23,828,076 over the last quarter. 6.30% of the stock is currently owned by company 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.