Seven Eight Capital LP Increases Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Seven Eight Capital LP lifted its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 150.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,959 shares of the company’s stock after acquiring an additional 3,578 shares during the period. Seven Eight Capital LP’s holdings in Nexstar Media Group were worth $989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Whittier Trust Co. acquired a new position in shares of Nexstar Media Group in the second quarter valued at about $27,000. EverSource Wealth Advisors LLC raised its position in Nexstar Media Group by 632.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock worth $32,000 after buying an additional 177 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Nexstar Media Group by 3,700.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after acquiring an additional 259 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of Nexstar Media Group by 41.1% in the 4th quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock valued at $46,000 after acquiring an additional 86 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Nexstar Media Group by 112.2% in the second quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock worth $49,000 after acquiring an additional 156 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insider Buying and Selling at Nexstar Media Group

In other news, CFO Lee Ann Gliha sold 984 shares of Nexstar Media Group stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total transaction of $155,107.92. Following the transaction, the chief financial officer now owns 8,107 shares in the company, valued at approximately $1,277,906.41. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Lee Ann Gliha sold 984 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total transaction of $155,107.92. Following the completion of the sale, the chief financial officer now directly owns 8,107 shares in the company, valued at $1,277,906.41. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Sean Compton sold 3,930 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $160.61, for a total transaction of $631,197.30. Following the completion of the transaction, the insider now owns 10,684 shares in the company, valued at $1,715,957.24. The disclosure for this sale can be found here. Insiders sold a total of 30,426 shares of company stock worth $5,116,478 in the last three months. 5.90% of the stock is owned by corporate insiders.

Nexstar Media Group Price Performance

Nexstar Media Group stock opened at $166.40 on Friday. The company has a fifty day simple moving average of $169.72 and a 200-day simple moving average of $165.78. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 0.18 and a beta of 1.50. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 2.92. Nexstar Media Group, Inc. has a 52-week low of $132.30 and a 52-week high of $187.27.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, August 8th. The company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.48 by ($0.94). Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the company posted $2.64 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. On average, equities analysts anticipate that Nexstar Media Group, Inc. will post 25.72 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend was Friday, August 9th. Nexstar Media Group’s dividend payout ratio (DPR) is currently 57.19%.

Analysts Set New Price Targets

A number of research firms recently issued reports on NXST. Wells Fargo & Company decreased their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Barrington Research reissued an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their target price on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Benchmark reissued a “buy” rating and issued a $225.00 price target on shares of Nexstar Media Group in a report on Friday, August 9th. Finally, StockNews.com cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $201.67.

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.