Y Intercept Hong Kong Ltd Takes $821,000 Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Y Intercept Hong Kong Ltd bought a new position in Nexstar Media Group, Inc. (NASDAQ:NXST) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,967 shares of the company’s stock, valued at approximately $821,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in shares of Nexstar Media Group during the 3rd quarter worth approximately $25,000. Whittier Trust Co. bought a new stake in Nexstar Media Group in the second quarter worth $27,000. True Wealth Design LLC purchased a new stake in Nexstar Media Group during the third quarter valued at $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 purchasing an additional 259 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Nexstar Media Group in the 3rd quarter worth $44,000. 95.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Loop Capital cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating and decreased their target price for the company from $200.00 to $190.00 in a research report on Friday, November 8th. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, November 7th. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Benchmark restated a “buy” rating and issued a $215.00 price target on shares of Nexstar Media Group in a research report on Friday, November 8th. Finally, Guggenheim dropped their price objective 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. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $204.29.

Nexstar Media Group Stock Performance

NXST stock opened at $164.60 on Friday. Nexstar Media Group, Inc. has a twelve month low of $147.25 and a twelve month high of $191.86. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 0.20 and a beta of 1.45. The business’s fifty day simple moving average is $170.11 and its two-hundred day simple moving average is $167.33. 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 (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing the consensus estimate of $5.51 by ($0.24). The company 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 company’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.70 EPS. Analysts predict that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $1.69 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $6.76 annualized dividend and a yield of 4.11%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 39.10%.

Insider Buying and Selling at Nexstar Media Group

In related news, insider Andrew Alford sold 3,175 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $167.82, for a total transaction of $532,828.50. Following the transaction, the insider now directly owns 9,173 shares of the company’s stock, valued at $1,539,412.86. This trade represents a 25.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director D Geoffrey Armstrong sold 2,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $166.38, for a total value of $332,760.00. Following the sale, the director now owns 7,250 shares of the company’s stock, valued at approximately $1,206,255. This represents a 21.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,798 shares of company stock valued at $7,989,464 in the last ninety days. Corporate insiders own 6.30% of the company’s stock.

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.