Payden & Rygel Has $18.22 Million Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Payden & Rygel raised its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 40.4% in the third quarter, Holdings Channel.com reports. The firm owned 110,200 shares of the company’s stock after buying an additional 31,700 shares during the period. Nexstar Media Group comprises approximately 1.4% of Payden & Rygel’s investment portfolio, making the stock its 28th biggest holding. Payden & Rygel’s holdings in Nexstar Media Group were worth $18,222,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Nexstar Media Group by 88.3% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,744 shares of the company’s stock valued at $807,000 after purchasing an additional 2,225 shares during the last quarter. Vanguard Group Inc. grew its position in Nexstar Media Group by 3.9% during the first quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock valued at $580,689,000 after buying an additional 127,783 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in Nexstar Media Group by 41.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 8,857 shares of the company’s stock worth $1,526,000 after buying an additional 2,591 shares during the last quarter. Seven Eight Capital LP bought a new stake in Nexstar Media Group in the first quarter worth about $410,000. Finally, Bessemer Group Inc. lifted its stake in Nexstar Media Group by 24.3% in the first quarter. Bessemer Group Inc. now owns 81,875 shares of the company’s stock valued at $14,106,000 after purchasing an additional 15,982 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Guggenheim lowered their price target on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Wells Fargo & Company decreased their price target 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. Barrington Research reissued an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, November 7th. Finally, Loop Capital lowered Nexstar Media Group from a “buy” rating to a “hold” rating and cut their target price for the stock from $200.00 to $190.00 in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.50.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, COO Michael Biard sold 2,458 shares of Nexstar Media Group stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $169.28, for a total transaction of $416,090.24. Following the sale, the chief operating officer now directly owns 3,792 shares of the company’s stock, valued at approximately $641,909.76. The trade was a 39.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Andrew Alford sold 3,175 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 9,173 shares in the company, valued at approximately $1,539,412.86. The trade was a 25.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,361 shares of company stock worth $8,249,331 over the last 90 days. 6.30% of the stock is owned by company insiders.

Nexstar Media Group Trading Up 0.3 %

Shares of Nexstar Media Group stock traded up $0.53 during trading on Wednesday, reaching $164.05. 25,209 shares of the stock were exchanged, compared to its average volume of 328,367. The stock’s fifty day moving average is $168.64 and its 200 day moving average is $167.14. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of 9.46, a price-to-earnings-growth ratio of 0.19 and a beta of 1.48. 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 1 year low of $141.38 and a 1 year high of $191.86.

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

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date 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.