MQS Management LLC Makes New Investment in Nexstar Media Group, Inc. (NASDAQ:NXST)

MQS Management LLC purchased a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) during the 3rd quarter, Holdings Channel reports. The fund purchased 2,172 shares of the company’s stock, valued at approximately $359,000.

Other large investors have also made changes to their positions in the company. Whittier Trust Co. acquired a new position in Nexstar Media Group during the 2nd quarter valued at about $27,000. Allspring Global Investments Holdings LLC raised its stake in shares of Nexstar Media Group by 3,700.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock worth $44,000 after buying an additional 259 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Nexstar Media Group in the third quarter valued at approximately $44,000. GAMMA Investing LLC grew its holdings in Nexstar Media Group by 112.2% during the 2nd 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. Finally, Mascoma Wealth Management LLC bought a new stake in Nexstar Media Group in the second quarter valued at about $49,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analyst Ratings Changes

NXST has been the subject of several analyst reports. StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Guggenheim lowered their target price on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Barrington Research reissued an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Wells Fargo & Company reduced their target price on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $198.50.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, insider Andrew Alford sold 3,175 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $167.82, for a total value of $532,828.50. Following the completion of the transaction, the insider now directly owns 9,173 shares in the company, valued at $1,539,412.86. This trade represents a 25.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Perry A. Sook sold 12,239 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 674,694 shares in the company, valued at approximately $128,380,774.32. This represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,437 shares of company stock valued at $8,429,561. Corporate insiders own 6.30% of the company’s stock.

Nexstar Media Group Stock Performance

NXST opened at $166.18 on Friday. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of 9.61, a P/E/G ratio of 0.19 and a beta of 1.48. The business’s 50-day moving average price is $168.61 and its two-hundred day moving average price is $167.11. Nexstar Media Group, Inc. has a 1 year low of $141.38 and a 1 year high of $191.86. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) 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 firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the business posted $0.70 EPS. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. Equities analysts expect that Nexstar Media Group, Inc. will post 25.72 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group’s payout ratio is 39.10%.

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.