Graham Capital Management L.P. Makes New $1 Million Investment in Nexstar Media Group, Inc. $NXST

Key Points

• Graham Capital Management L.P. has acquired 5,588 shares of Nexstar Media Group, valued at approximately $1,001,000, indicating institutional interest in the company.
• Analysts have recently increased their price targets for Nexstar Media Group, with a consensus target of $225.00 and a rating of "Moderate Buy".
• Nexstar Media Group reported earnings of $3.06 per share for the last quarter, exceeding expectations, despite a 3.2% decline in revenue compared to the previous year.

Graham Capital Management L.P. acquired a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,588 shares of the company's stock, valued at approximately $1,001,000.

A number of other large investors have also added to or reduced their stakes in NXST. Whipplewood Advisors LLC grew its stake in shares of Nexstar Media Group by 830.3% in the first quarter. Whipplewood Advisors LLC now owns 307 shares of the company's stock worth $55,000 after purchasing an additional 274 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Nexstar Media Group by 2,293.8% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 383 shares of the company's stock valued at $69,000 after acquiring an additional 367 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of Nexstar Media Group by 62.3% during the first quarter. First Horizon Advisors Inc. now owns 401 shares of the company's stock worth $72,000 after acquiring an additional 154 shares during the period. Versant Capital Management Inc increased its holdings in Nexstar Media Group by 2,126.3% during the first quarter. Versant Capital Management Inc now owns 423 shares of the company's stock valued at $76,000 after buying an additional 404 shares during the period. Finally, SBI Securities Co. Ltd. lifted its stake in shares of Nexstar Media Group by 186.7% during the first quarter. SBI Securities Co. Ltd. now owns 453 shares of the company's stock worth $81,000 after buying an additional 295 shares during the period. Hedge funds and other institutional investors own 95.30% of the company's stock.

Nexstar Media Group Trading Up 0.5%

Shares of NXST traded up $1.03 during mid-day trading on Monday, reaching $209.30. 91,986 shares of the company were exchanged, compared to its average volume of 417,163. The stock has a market capitalization of $6.35 billion, a PE ratio of 10.84, a PEG ratio of 1.55 and a beta of 1.04. The business has a 50 day simple moving average of $192.57 and a two-hundred day simple moving average of $174.90. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.69 and a current ratio of 1.69. Nexstar Media Group, Inc. has a 52 week low of $141.66 and a 52 week high of $223.36.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $3.06 EPS for the quarter, beating analysts' consensus estimates of $2.95 by $0.11. The firm had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.21 billion. Nexstar Media Group had a return on equity of 28.40% and a net margin of 11.90%.The business's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.54 EPS. On average, analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a $1.86 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $7.44 annualized dividend and a yield of 3.6%. Nexstar Media Group's dividend payout ratio is 38.63%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NXST. Zacks Research raised shares of Nexstar Media Group to a "hold" rating in a research note on Friday, August 8th. Benchmark lifted their price objective on shares of Nexstar Media Group from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Wells Fargo & Company boosted their price target on shares of Nexstar Media Group from $206.00 to $250.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Barrington Research reiterated an "outperform" rating and issued a $225.00 price target on shares of Nexstar Media Group in a research report on Tuesday, August 19th. Finally, Guggenheim upped their target price on Nexstar Media Group from $220.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $225.00.

Insider Activity

In related news, insider Sean Compton sold 850 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total transaction of $140,462.50. Following the completion of the transaction, the insider directly owned 15,272 shares of the company's stock, valued at $2,523,698. This represents a 5.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Lee Ann Gliha sold 757 shares of Nexstar Media Group stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total value of $125,094.25. Following the completion of the transaction, the executive vice president owned 12,826 shares in the company, valued at $2,119,496.50. The trade was a 5.57% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,209 shares of company stock worth $860,787. Company insiders own 6.70% of the company's stock.

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.