Blueshift Asset Management LLC Takes $206,000 Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Blueshift Asset Management LLC purchased a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 1,247 shares of the company’s stock, valued at approximately $206,000.

Other hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group purchased a new position in Nexstar Media Group in the third quarter worth $25,000. Whittier Trust Co. acquired a new stake in shares of Nexstar Media Group during the second quarter valued at $27,000. Allspring Global Investments Holdings LLC boosted 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 valued at $44,000 after acquiring an additional 259 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Nexstar Media Group during the third quarter valued at $44,000. Finally, GAMMA Investing LLC boosted its stake in shares of Nexstar Media Group by 112.2% during the second quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock valued at $49,000 after acquiring an additional 156 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Nexstar Media Group

In related news, insider Brett Jenkins sold 4,331 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $170.64, for a total transaction of $739,041.84. Following the completion of the transaction, the insider now owns 25,540 shares of the company’s stock, valued at $4,358,145.60. This trade represents a 14.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Andrew Alford sold 3,175 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $167.82, for a total value of $532,828.50. Following the sale, the insider now directly owns 9,173 shares of the company’s stock, valued at approximately $1,539,412.86. This represents a 25.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,423 shares of company stock valued at $7,916,739. 6.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the company. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Wells Fargo & Company decreased their price target on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft decreased their price target on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Loop Capital lowered Nexstar Media Group from a “buy” rating to a “hold” rating and decreased their price target for the stock from $200.00 to $190.00 in a research note on Friday, November 8th. Finally, Barrington Research reissued an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Nexstar Media Group presently has a consensus rating of “Moderate Buy” and an average price target of $198.50.

Nexstar Media Group Price Performance

NXST stock opened at $170.59 on Friday. 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 52-week low of $141.38 and a 52-week high of $191.86. The stock’s 50 day moving average is $169.23 and its two-hundred day moving average is $167.15. The company has a market capitalization of $5.29 billion, a PE ratio of 9.90, a P/E/G ratio of 0.20 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.51 by ($0.24). The business had revenue of $1.37 billion for 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 revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.70 earnings per share. Analysts predict 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 paid 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 3.96%. Nexstar Media Group’s payout ratio is currently 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.