Bridgewater Associates LP Sells 18,048 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Bridgewater Associates LP lowered its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 52.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 16,203 shares of the company’s stock after selling 18,048 shares during the quarter. Bridgewater Associates LP’s holdings in Nexstar Media Group were worth $2,679,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. raised its stake in shares of Nexstar Media Group by 8.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 2,378 shares of the company’s stock worth $410,000 after purchasing an additional 188 shares during the last quarter. GAMMA Investing LLC lifted its stake in Nexstar Media Group by 112.2% during the 2nd 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 period. Harbor Capital Advisors Inc. boosted its holdings in shares of Nexstar Media Group by 299.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 3,851 shares of the company’s stock valued at $639,000 after acquiring an additional 2,886 shares during the last quarter. CWM LLC boosted its holdings in shares of Nexstar Media Group by 60.7% during the 2nd quarter. CWM LLC now owns 1,178 shares of the company’s stock valued at $196,000 after acquiring an additional 445 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC grew its stake in shares of Nexstar Media Group by 3.0% in the second quarter. Linden Thomas Advisory Services LLC now owns 4,704 shares of the company’s stock worth $781,000 after acquiring an additional 138 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $160.00, for a total value of $160,000.00. Following the sale, the director now owns 7,975 shares in the company, valued at $1,276,000. The trade was a 11.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director D Geoffrey Armstrong sold 2,000 shares of Nexstar Media Group stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $166.38, for a total value of $332,760.00. Following the completion of the sale, the director now directly owns 7,250 shares in the company, 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. In the last 90 days, insiders have sold 45,423 shares of company stock valued at $7,916,739. 6.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NXST shares. Barrington Research restated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, November 7th. Wells Fargo & Company lowered their target price on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft cut their price target on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Benchmark reissued a “buy” rating and issued a $215.00 price objective on shares of Nexstar Media Group in a report on Friday, November 8th. Finally, Guggenheim reduced their target price on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $198.50.

Nexstar Media Group Price Performance

Shares of NASDAQ:NXST opened at $170.59 on Friday. The firm’s 50 day simple moving average is $169.31 and its two-hundred day simple moving average is $167.13. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. The company has a market capitalization of $5.29 billion, a P/E ratio of 9.87, a P/E/G ratio of 0.20 and a beta of 1.48. Nexstar Media Group, Inc. has a 1-year low of $141.38 and a 1-year high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results 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 firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate 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 company posted $0.70 EPS. Research analysts expect that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently announced 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. This represents a $6.76 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend was Friday, November 15th. Nexstar Media Group’s dividend 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.