Dynamic Technology Lab Private Ltd Buys New Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Dynamic Technology Lab Private Ltd purchased a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,292 shares of the company’s stock, valued at approximately $2,198,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CX Institutional lifted its holdings in shares of Nexstar Media Group by 5.0% during the 3rd quarter. CX Institutional now owns 1,396 shares of the company’s stock valued at $231,000 after purchasing an additional 67 shares during the last quarter. Granite Group Advisors LLC increased its position in shares of Nexstar Media Group by 5.1% in the first quarter. Granite Group Advisors LLC now owns 1,489 shares of the company’s stock valued at $257,000 after buying an additional 72 shares in the last quarter. Blue Trust Inc. raised its position in Nexstar Media Group by 7.3% during the third quarter. Blue Trust Inc. now owns 1,088 shares of the company’s stock worth $181,000 after acquiring an additional 74 shares during the period. Klein Pavlis & Peasley Financial Inc. increased its stake in Nexstar Media Group by 0.6% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,903 shares of the company’s stock worth $2,308,000 after buying an additional 87 shares in the last quarter. Finally, SummerHaven Investment Management LLC boosted its holdings in shares of Nexstar Media Group by 2.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 4,217 shares of the company’s stock worth $700,000 after purchasing an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Price Performance

Shares of Nexstar Media Group stock opened at $169.75 on Monday. Nexstar Media Group, Inc. has a fifty-two week low of $141.38 and a fifty-two week high of $191.86. The company has a market cap of $5.27 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 0.20 and a beta of 1.48. 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 firm has a fifty day moving average price of $168.98 and a two-hundred day moving average price of $167.16.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the firm earned $0.70 earnings per share. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. Analysts expect that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.

Nexstar Media Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders 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 yield of 3.98%. The ex-dividend date is Friday, November 15th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 39.10%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on NXST shares. Deutsche Bank Aktiengesellschaft cut their target price on shares of 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 cut Nexstar Media Group from a “buy” rating to a “hold” rating and cut their price target for the stock from $200.00 to $190.00 in a research note on Friday, November 8th. Guggenheim cut their price target 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. Benchmark reaffirmed a “buy” rating and set a $215.00 price target on shares of Nexstar Media Group in a research note on Friday, November 8th. Finally, Wells Fargo & Company dropped their price target on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and an average price target of $198.50.

Insider Buying and Selling at Nexstar Media Group

In other news, EVP Rachel Morgan sold 6,196 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $171.30, for a total value of $1,061,374.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew Alford sold 3,175 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $167.82, for a total value of $532,828.50. Following the completion of the sale, the insider now owns 9,173 shares in the company, valued at $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. Insiders have sold a total of 44,903 shares of company stock worth $7,833,240 over 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.