Chiron Investment Management LLC Buys 1,376 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Chiron Investment Management LLC increased its stake in Nexstar Media Group, Inc. (NASDAQ:NXSTFree Report) by 63.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 3,530 shares of the company’s stock after acquiring an additional 1,376 shares during the period. Chiron Investment Management LLC’s holdings in Nexstar Media Group were worth $584,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Brooklyn Investment Group purchased a new position in shares of Nexstar Media Group during the 3rd quarter worth approximately $25,000. Whittier Trust Co. purchased a new stake in Nexstar Media Group in the second quarter worth $27,000. True Wealth Design LLC bought a new position in Nexstar Media Group in the third quarter worth $30,000. Allspring Global Investments Holdings LLC lifted its position in 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 valued at $44,000 after buying an additional 259 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in shares of Nexstar Media Group during the 3rd quarter valued at $44,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Jay M. Grossman sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $170.70, for a total value of $1,707,000.00. Following the transaction, the director now owns 54,625 shares in the company, valued at $9,324,487.50. This represents a 15.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director D Geoffrey Armstrong sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $166.38, for a total transaction of $332,760.00. Following the sale, the director now owns 7,250 shares of the company’s stock, valued at $1,206,255. This trade represents a 21.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,298 shares of company stock worth $7,907,239. 6.30% of the stock is owned by insiders.

Nexstar Media Group Stock Up 1.0 %

NXST stock opened at $169.15 on Wednesday. The stock has a market capitalization of $5.25 billion, a P/E ratio of 9.78, a P/E/G ratio of 0.20 and a beta of 1.45. 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, Inc. has a 1-year low of $142.25 and a 1-year high of $191.86. The business has a fifty day moving average price of $170.06 and a 200-day moving average price of $167.33.

Nexstar Media Group (NASDAQ:NXSTGet Free Report) last issued its earnings results 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). 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%. Nexstar Media Group’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period last year, the firm posted $0.70 EPS. Equities analysts forecast 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 disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $1.69 per share. The ex-dividend date was Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a yield of 4.00%. Nexstar Media Group’s dividend payout ratio (DPR) is 39.10%.

Analysts Set New Price Targets

Several brokerages recently issued reports on NXST. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Barrington Research reiterated an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, November 7th. Loop Capital downgraded Nexstar Media Group from a “buy” rating to a “hold” rating and cut their price target for the stock from $200.00 to $190.00 in a research note on Friday, November 8th. Guggenheim dropped their target price 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. Finally, Benchmark reaffirmed a “buy” rating and issued a $215.00 price target on shares of Nexstar Media Group in a research report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $204.29.

Get Our Latest Stock Analysis on NXST

About Nexstar Media Group

(Free Report)

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.

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Institutional Ownership by Quarter for Nexstar Media Group (NASDAQ:NXST)

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