MQS Management LLC Buys Shares of 2,172 Nexstar Media Group, Inc. (NASDAQ:NXST)

MQS Management LLC acquired a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,172 shares of the company’s stock, valued at approximately $359,000.

Several other hedge funds and other institutional investors have also made changes to their positions in NXST. Vanguard Group Inc. increased its stake in shares of 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 acquiring an additional 127,783 shares during the period. Cornercap Investment Counsel Inc. acquired a new stake in shares of Nexstar Media Group during the 2nd quarter valued at $570,000. Bessemer Group Inc. boosted its stake in shares of Nexstar Media Group by 24.3% during the 1st quarter. Bessemer Group Inc. now owns 81,875 shares of the company’s stock worth $14,106,000 after acquiring an additional 15,982 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Nexstar Media Group by 72.0% in the 2nd quarter. AQR Capital Management LLC now owns 199,811 shares of the company’s stock worth $32,769,000 after acquiring an additional 83,637 shares during the last quarter. Finally, Parcion Private Wealth LLC grew its holdings in shares of Nexstar Media Group by 13.4% in the 3rd quarter. Parcion Private Wealth LLC now owns 31,115 shares of the company’s stock worth $5,145,000 after acquiring an additional 3,680 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Benchmark reiterated a “buy” rating and issued a $215.00 price target on shares of Nexstar Media Group in a research report on Friday, November 8th. Loop Capital lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $200.00 to $190.00 in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft decreased their target price on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Guggenheim dropped their price target on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Finally, StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $198.50.

Nexstar Media Group Trading Up 0.1 %

Shares of NXST stock opened at $166.18 on Friday. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The firm has a fifty day moving average of $168.61 and a 200-day moving average of $167.11. Nexstar Media Group, Inc. has a 52-week low of $141.38 and a 52-week high of $191.86. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of 9.61, a P/E/G ratio of 0.19 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data on Thursday, November 7th. The company reported $5.27 earnings per share 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 the consensus estimate of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.70 earnings per share. On average, equities research analysts forecast that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group’s dividend payout ratio (DPR) is currently 39.10%.

Insider Activity at Nexstar Media Group

In related news, COO Michael Biard sold 2,458 shares of the firm’s stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 3,792 shares of the company’s stock, valued at $641,909.76. This trade represents a 39.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael Strober sold 1,076 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.50, for a total value of $180,230.00. The disclosure for this sale can be found here. Insiders sold 48,437 shares of company stock valued at $8,429,561 in the last ninety days. Insiders own 6.30% of the company’s stock.

Nexstar Media Group Profile

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.