Quest Partners LLC Makes New $666,000 Investment in Nexstar Media Group, Inc. (NASDAQ:NXST)

Quest Partners LLC acquired a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXSTFree Report) during the 4th quarter, Holdings Channel reports. The fund acquired 4,249 shares of the company’s stock, valued at approximately $666,000.

Several other hedge funds have also made changes to their positions in the business. Channing Capital Management LLC boosted its holdings in Nexstar Media Group by 738.8% in the third quarter. Channing Capital Management LLC now owns 506,212 shares of the company’s stock valued at $72,576,000 after acquiring an additional 445,859 shares during the last quarter. Norges Bank acquired a new position in shares of Nexstar Media Group during the fourth quarter worth about $51,812,000. Boston Financial Mangement LLC lifted its stake in shares of Nexstar Media Group by 156.5% during the third quarter. Boston Financial Mangement LLC now owns 238,670 shares of the company’s stock worth $34,218,000 after purchasing an additional 145,617 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Nexstar Media Group by 15,107.2% during the fourth quarter. International Assets Investment Management LLC now owns 122,570 shares of the company’s stock worth $19,213,000 after purchasing an additional 121,764 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its stake in shares of Nexstar Media Group by 71.0% during the third quarter. New York State Common Retirement Fund now owns 249,679 shares of the company’s stock worth $35,796,000 after purchasing an additional 103,636 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Trading Down 0.5 %

Shares of NASDAQ:NXST opened at $161.42 on Thursday. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 2.85. Nexstar Media Group, Inc. has a 1 year low of $132.30 and a 1 year high of $187.32. The firm has a fifty day moving average price of $166.23 and a 200 day moving average price of $162.52. The stock has a market capitalization of $5.30 billion, a PE ratio of 13.66, a P/E/G ratio of 0.59 and a beta of 1.50.

Nexstar Media Group (NASDAQ:NXSTGet Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.28 by $0.88. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the business posted $2.97 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. Analysts expect that Nexstar Media Group, Inc. will post 27.62 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a $1.69 dividend. The ex-dividend date is Thursday, May 9th. This represents a $6.76 dividend on an annualized basis and a yield of 4.19%. Nexstar Media Group’s payout ratio is presently 57.19%.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, CEO Perry A. Sook sold 31,758 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $158.66, for a total value of $5,038,724.28. Following the transaction, the chief executive officer now directly owns 636,788 shares of the company’s stock, valued at $101,032,784.08. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Perry A. Sook sold 31,758 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $158.66, for a total transaction of $5,038,724.28. Following the sale, the chief executive officer now directly owns 636,788 shares in the company, valued at $101,032,784.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gary Weitman sold 432 shares of Nexstar Media Group stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $167.43, for a total transaction of $72,329.76. Following the sale, the insider now directly owns 10,902 shares of the company’s stock, valued at approximately $1,825,321.86. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,373 shares of company stock valued at $7,632,777. 5.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

NXST has been the topic of a number of analyst reports. Loop Capital raised Nexstar Media Group to a “strong-buy” rating in a research report on Friday, May 10th. Barrington Research reissued an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, May 9th. Rosenblatt Securities lowered their price objective on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. TheStreet raised Nexstar Media Group from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Finally, Wells Fargo & Company raised Nexstar Media Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $190.00 to $221.00 in a report on Monday, May 13th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $206.00.

View Our Latest Analysis on Nexstar Media Group

Nexstar Media Group Company Profile

(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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