Edgestream Partners L.P. Has $1.12 Million Stock Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Edgestream Partners L.P. trimmed its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 77.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,104 shares of the company’s stock after selling 23,985 shares during the quarter. Edgestream Partners L.P.’s holdings in Nexstar Media Group were worth $1,122,000 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. Pacer Advisors Inc. increased its holdings in Nexstar Media Group by 27,180.2% in the fourth quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company’s stock worth $190,650,000 after purchasing an additional 1,202,453 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Nexstar Media Group in the fourth quarter worth approximately $35,560,000. Raymond James Financial Inc. bought a new stake in Nexstar Media Group in the fourth quarter worth approximately $8,402,000. Payden & Rygel increased its holdings in Nexstar Media Group by 40.4% in the third quarter. Payden & Rygel now owns 110,200 shares of the company’s stock worth $18,222,000 after purchasing an additional 31,700 shares in the last quarter. Finally, World Investment Advisors LLC bought a new stake in Nexstar Media Group in the third quarter worth approximately $3,747,000. 95.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NXST has been the subject of a number of research analyst reports. Benchmark lifted their target price on Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Guggenheim raised their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Monday. Barrington Research reissued an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Finally, Loop Capital raised Nexstar Media Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $190.00 to $200.00 in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $208.43.

Nexstar Media Group Stock Down 4.5 %

Shares of NASDAQ:NXST opened at $169.06 on Wednesday. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of 9.78, a PEG ratio of 0.45 and a beta of 1.47. 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, Inc. has a 12-month low of $146.04 and a 12-month high of $191.86. The business’s 50 day moving average is $157.22 and its 200 day moving average is $163.76.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.22 by ($1.66). The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. On average, sell-side analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a dividend of $1.86 per share. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.44 annualized dividend and a dividend yield of 4.40%. Nexstar Media Group’s payout ratio is presently 34.56%.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, CEO Perry A. Sook sold 52,808 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $157.41, for a total value of $8,312,507.28. Following the transaction, the chief executive officer now owns 674,694 shares of the company’s stock, valued at approximately $106,203,582.54. The trade was a 7.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles Thomas Mcmillen sold 750 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $159.93, for a total value of $119,947.50. Following the completion of the transaction, the director now directly owns 6,975 shares in the company, valued at approximately $1,115,511.75. This represents a 9.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 161,455 shares of company stock valued at $26,158,403 over the last 90 days. Insiders own 6.30% of the company’s stock.

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.