Quantbot Technologies LP Buys 10,693 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Quantbot Technologies LP grew its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 140.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,329 shares of the company’s stock after buying an additional 10,693 shares during the period. Quantbot Technologies LP’s holdings in Nexstar Media Group were worth $2,895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its position in shares of Nexstar Media Group by 1.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company’s stock valued at $1,073,000 after buying an additional 68 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Nexstar Media Group by 15.3% during the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock valued at $87,000 after buying an additional 73 shares during the last quarter. Natixis Advisors LLC raised its position in shares of Nexstar Media Group by 1.2% during the third quarter. Natixis Advisors LLC now owns 10,185 shares of the company’s stock valued at $1,684,000 after buying an additional 117 shares during the last quarter. Davis Capital Management raised its position in shares of Nexstar Media Group by 2.0% during the fourth quarter. Davis Capital Management now owns 6,270 shares of the company’s stock valued at $990,000 after buying an additional 122 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its position in shares of Nexstar Media Group by 5.8% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 2,518 shares of the company’s stock valued at $398,000 after buying an additional 137 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Trading Down 0.2 %

NXST stock opened at $176.99 on Friday. 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 twelve month low of $146.04 and a twelve month high of $191.86. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of 10.24, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47. The firm’s fifty day simple moving average is $159.66 and its two-hundred day simple moving average is $164.04.

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

Nexstar Media Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a $1.86 dividend. The ex-dividend date was Wednesday, February 12th. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. This represents a $7.44 dividend on an annualized basis and a yield of 4.20%. Nexstar Media Group’s payout ratio is currently 34.56%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NXST shares. Rosenblatt Securities restated a “buy” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research report on Monday, March 10th. Guggenheim boosted their price target on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Benchmark boosted their price target on shares of Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Barrington Research restated an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research report on Wednesday, March 5th. Finally, Loop Capital upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $190.00 to $200.00 in a research report on Friday, February 28th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Nexstar Media Group has an average rating of “Moderate Buy” and an average target price of $208.43.

Insiders Place Their Bets

In related news, CEO Perry A. Sook sold 52,808 shares of the stock in a transaction that occurred on 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 transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gary Weitman sold 1,241 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $177.21, for a total value of $219,917.61. Following the completion of the sale, the insider now owns 3,975 shares in the company, valued at approximately $704,409.75. This represents a 23.79 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 126,250 shares of company stock worth $20,450,616. 6.30% of the stock is owned by corporate insiders.

About Nexstar Media Group

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.