Bayforest Capital Ltd Has $498,000 Stock Position in Nexstar Media Group, Inc. $NXST

Key Points

• Bayforest Capital Ltd increased its holdings in Nexstar Media Group by 97.2%, acquiring an additional 1,369 shares in the first quarter, raising its total to 2,777 shares worth approximately $498,000.
• Several large investors also significantly boosted their stakes in Nexstar Media Group, with Whipplewood Advisors increasing holdings by 830.3% and Caitong International Asset Management raising theirs by 2,293.8%.
• Nexstar Media Group delivered a better-than-expected earnings report, with earnings per share of $3.06, surpassing analyst estimates and generating quarterly revenue of $1.23 billion.

Bayforest Capital Ltd lifted its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 97.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,777 shares of the company's stock after purchasing an additional 1,369 shares during the quarter. Bayforest Capital Ltd's holdings in Nexstar Media Group were worth $498,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. D.A. Davidson & CO. bought a new stake in shares of Nexstar Media Group during the 1st quarter worth $323,000. Crossmark Global Holdings Inc. bought a new stake in shares of Nexstar Media Group during the 1st quarter worth $219,000. Foster & Motley Inc. boosted its holdings in shares of Nexstar Media Group by 8.5% during the 1st quarter. Foster & Motley Inc. now owns 41,063 shares of the company's stock worth $7,359,000 after buying an additional 3,202 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Nexstar Media Group by 1.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 34,484 shares of the company's stock worth $6,180,000 after buying an additional 624 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Nexstar Media Group during the 1st quarter worth $218,000. 95.30% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Dana Zimmer sold 889 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total value of $146,907.25. Following the completion of the transaction, the insider owned 6,201 shares in the company, valued at approximately $1,024,715.25. This represents a 12.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Andrew Alford sold 757 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total transaction of $125,094.25. Following the completion of the transaction, the insider owned 10,528 shares of the company's stock, valued at approximately $1,739,752. This represents a 6.71% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,209 shares of company stock worth $860,787. Insiders own 6.70% of the company's stock.

Wall Street Analysts Forecast Growth

NXST has been the subject of several recent analyst reports. Zacks Research raised shares of Nexstar Media Group to a "hold" rating in a report on Friday, August 8th. Guggenheim upped their price objective on shares of Nexstar Media Group from $220.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Barrington Research reaffirmed an "outperform" rating and set a $225.00 price objective on shares of Nexstar Media Group in a report on Tuesday, August 19th. Wells Fargo & Company increased 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. Finally, Benchmark increased their price target on shares of Nexstar Media Group from $220.00 to $225.00 and gave the company a "buy" rating in a report on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $225.00.

Nexstar Media Group Stock Performance

Nexstar Media Group stock traded up $0.73 during mid-day trading on Friday, reaching $206.95. The company had a trading volume of 301,153 shares, compared to its average volume of 364,465. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 2.80. Nexstar Media Group, Inc. has a 52 week low of $141.66 and a 52 week high of $223.36. The company has a 50 day moving average of $195.15 and a 200-day moving average of $176.43. The firm has a market cap of $6.27 billion, a price-to-earnings ratio of 10.75, a PEG ratio of 1.53 and a beta of 1.04.

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

Nexstar Media Group Announces Dividend

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

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.