Point72 DIFC Ltd Takes Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Point72 DIFC Ltd bought a new position in Nexstar Media Group, Inc. (NASDAQ:NXST) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 2,346 shares of the company’s stock, valued at approximately $389,000.

Other institutional investors have also recently made changes to their positions in the company. Marshall Wace LLP bought a new stake in shares of Nexstar Media Group during the 2nd quarter valued at $249,000. King Luther Capital Management Corp grew its stake in Nexstar Media Group by 2.8% during the second quarter. King Luther Capital Management Corp now owns 34,331 shares of the company’s stock valued at $5,699,000 after acquiring an additional 944 shares in the last quarter. Bridges Investment Management Inc. bought a new stake in shares of Nexstar Media Group in the second quarter worth about $498,000. XTX Topco Ltd purchased a new stake in shares of Nexstar Media Group in the second quarter worth about $1,504,000. Finally, Seven Eight Capital LP boosted its stake in Nexstar Media Group by 150.3% during the second quarter. Seven Eight Capital LP now owns 5,959 shares of the company’s stock valued at $989,000 after buying an additional 3,578 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

NXST has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft decreased their price objective 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. Barrington Research reiterated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, August 8th. Wells Fargo & Company reduced their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Benchmark reaffirmed 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 raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Thursday. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Nexstar Media Group currently has a consensus rating of “Buy” and an average target price of $201.67.

Nexstar Media Group Stock Up 1.3 %

Shares of NASDAQ NXST opened at $164.73 on Friday. Nexstar Media Group, Inc. has a 1 year low of $132.30 and a 1 year high of $187.27. The firm has a 50-day simple moving average of $168.70 and a two-hundred day simple moving average of $165.89. The company has a market cap of $5.43 billion, a P/E ratio of 13.94, a PEG ratio of 0.19 and a beta of 1.49. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.78 and a quick ratio of 1.78.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Thursday, August 8th. The company reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the firm earned $2.64 EPS. Nexstar Media Group’s revenue was up 2.3% compared to the same quarter last year. Research analysts anticipate that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a $1.69 dividend. This represents a $6.76 annualized dividend and a yield of 4.10%. The ex-dividend date was Friday, August 9th. Nexstar Media Group’s dividend payout ratio is presently 57.19%.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 250 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $164.44, for a total value of $41,110.00. Following the transaction, the director now directly owns 7,725 shares in the company, valued at approximately $1,270,299. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Charles Thomas Mcmillen sold 250 shares of the stock in a transaction 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 transaction, the director now owns 7,725 shares of the company’s stock, valued at approximately $1,270,299. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sean Compton sold 3,930 shares of Nexstar Media Group stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $160.61, for a total value of $631,197.30. Following the completion of the sale, the insider now owns 10,684 shares of the company’s stock, valued at $1,715,957.24. The disclosure for this sale can be found here. Insiders sold 33,851 shares of company stock worth $5,690,416 in the last 90 days. 5.90% of the stock is owned by corporate 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.