Pathstone Holdings LLC Increases Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Pathstone Holdings LLC lifted its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 6.7% in the third quarter, Holdings Channel.com reports. The fund owned 22,009 shares of the company’s stock after purchasing an additional 1,388 shares during the period. Pathstone Holdings LLC’s holdings in Nexstar Media Group were worth $3,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. lifted its stake in Nexstar Media Group by 8.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,378 shares of the company’s stock worth $410,000 after purchasing an additional 188 shares in the last quarter. Redwood Investment Management LLC raised its position in shares of Nexstar Media Group by 5.5% in the first quarter. Redwood Investment Management LLC now owns 31,490 shares of the company’s stock worth $5,425,000 after buying an additional 1,644 shares in the last quarter. EMC Capital Management grew its position in Nexstar Media Group by 35.8% during the first quarter. EMC Capital Management now owns 3,116 shares of the company’s stock worth $537,000 after buying an additional 821 shares in the last quarter. Granite Group Advisors LLC increased its stake in Nexstar Media Group by 5.1% in the 1st quarter. Granite Group Advisors LLC now owns 1,489 shares of the company’s stock worth $257,000 after acquiring an additional 72 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Nexstar Media Group by 112.2% in the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock valued at $49,000 after acquiring an additional 156 shares in the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft cut their price objective on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a report on Friday, August 9th. Guggenheim decreased their price target on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Benchmark reaffirmed a “buy” rating and set a $215.00 price objective on shares of Nexstar Media Group in a report on Friday, November 8th. Barrington Research reiterated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, November 7th. Finally, Loop Capital downgraded Nexstar Media Group from a “buy” rating to a “hold” rating and lowered their price target for the company from $200.00 to $190.00 in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.50.

Nexstar Media Group Trading Up 0.4 %

NASDAQ NXST opened at $169.75 on Monday. The stock has a 50-day moving average of $168.98 and a 200-day moving average of $167.16. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a 1-year low of $141.38 and a 1-year high of $191.86. The firm has a market cap of $5.27 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 0.20 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period last year, the company posted $0.70 EPS. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group’s payout ratio is 39.10%.

Insider Activity

In related news, CEO Perry A. Sook sold 12,239 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $190.28, for a total value of $2,328,836.92. Following the completion of the sale, the chief executive officer now owns 674,694 shares of the company’s stock, valued at $128,380,774.32. This trade represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Rachel Morgan sold 6,196 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $171.30, for a total transaction of $1,061,374.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,903 shares of company stock valued at $7,833,240. Insiders own 6.30% of the company’s stock.

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.