Crestline Management LP Takes $435,000 Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Crestline Management LP purchased a new position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,755 shares of the company's stock, valued at approximately $435,000.

A number of other large investors also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. bought a new stake in Nexstar Media Group in the 4th quarter worth approximately $25,000. Wilmington Savings Fund Society FSB bought a new position in shares of Nexstar Media Group during the 3rd quarter valued at approximately $33,000. Jones Financial Companies Lllp increased its position in shares of Nexstar Media Group by 15.3% during the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company's stock valued at $87,000 after purchasing an additional 73 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Nexstar Media Group by 99.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 786 shares of the company's stock valued at $124,000 after purchasing an additional 392 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its position in shares of Nexstar Media Group by 31.0% during the 4th quarter. Venturi Wealth Management LLC now owns 883 shares of the company's stock valued at $139,000 after purchasing an additional 209 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Nexstar Media Group Stock Up 0.1%

Shares of NXST stock traded up $0.17 during mid-day trading on Wednesday, hitting $174.59. The stock had a trading volume of 463,279 shares, compared to its average volume of 391,192. Nexstar Media Group, Inc. has a 12-month low of $141.66 and a 12-month high of $191.86. The firm has a market capitalization of $5.33 billion, a P/E ratio of 10.10, a price-to-earnings-growth ratio of 0.45 and a beta of 1.06. The firm's 50-day moving average is $162.47 and its two-hundred day moving average is $162.22. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.11. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The business had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same period in the prior year, the business earned $5.16 EPS. The business's revenue for the quarter was down 3.9% compared to the same quarter last year. On average, analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be issued a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 4.26%. The ex-dividend date of this dividend is Monday, May 19th. Nexstar Media Group's dividend payout ratio is 37.69%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NXST shares. StockNews.com downgraded Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Wells Fargo & Company cut their target price on Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Loop Capital raised Nexstar Media Group from a "hold" rating to a "buy" rating and upped their price objective for the company from $190.00 to $200.00 in a research report on Friday, February 28th. Barrington Research reaffirmed an "outperform" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Tuesday. Finally, Guggenheim upped their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the company a "buy" rating in a research report on Friday, February 28th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $205.71.

Insiders Place Their Bets

In related news, CEO Perry A. Sook sold 32,096 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $170.67, for a total transaction of $5,477,824.32. Following the completion of the sale, the chief executive officer now directly owns 806,019 shares in the company, valued at $137,563,262.73. This represents a 3.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Gary Weitman sold 1,241 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $177.21, for a total value of $219,917.61. Following the sale, the insider now owns 3,975 shares of the company's stock, valued at $704,409.75. This trade represents a 23.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,105 shares of company stock worth $6,722,463. 6.30% of the stock is currently owned by company insiders.

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.