Caisse DE Depot ET Placement DU Quebec Purchases Shares of 9,300 Nexstar Media Group, Inc. $NXST

Key Points

• Caisse DE Depot ET Placement DU Quebec has acquired 9,300 shares of Nexstar Media Group, valued at approximately $1,667,000.
• Nexstar recently reported earnings of $3.06 EPS, exceeding analysts' expectations, and has announced a quarterly dividend of $1.86 per share.
• Analyst ratings are positive, with a consensus target price of $225.00, indicating overall market confidence in Nexstar Media Group's performance.

Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,300 shares of the company's stock, valued at approximately $1,667,000.

Several other institutional investors have also added to or reduced their stakes in the business. Glassy Mountain Advisors Inc. lifted its holdings in Nexstar Media Group by 0.4% during the first quarter. Glassy Mountain Advisors Inc. now owns 20,497 shares of the company's stock valued at $3,674,000 after purchasing an additional 73 shares during the last quarter. HighPoint Advisor Group LLC lifted its holdings in Nexstar Media Group by 5.0% during the first quarter. HighPoint Advisor Group LLC now owns 1,930 shares of the company's stock valued at $346,000 after purchasing an additional 92 shares during the last quarter. State of Michigan Retirement System lifted its holdings in Nexstar Media Group by 1.4% during the first quarter. State of Michigan Retirement System now owns 7,000 shares of the company's stock valued at $1,255,000 after purchasing an additional 100 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in Nexstar Media Group by 1.2% during the first quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the company's stock valued at $1,470,000 after purchasing an additional 100 shares during the last quarter. Finally, Mariner LLC lifted its holdings in Nexstar Media Group by 5.3% during the fourth quarter. Mariner LLC now owns 2,300 shares of the company's stock valued at $363,000 after purchasing an additional 115 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Sean Compton sold 850 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total value of $140,462.50. Following the transaction, the insider directly owned 15,272 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lee Ann Gliha sold 757 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $165.25, for a total transaction of $125,094.25. Following the completion of the transaction, the executive vice president owned 12,826 shares in the company, valued at approximately $2,119,496.50. This trade represents a 5.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,209 shares of company stock valued at $860,787 in the last 90 days. 6.70% of the stock is owned by company insiders.

Nexstar Media Group Price Performance

Shares of NXST stock traded up $0.87 during trading on Thursday, hitting $206.66. The company had a trading volume of 201,273 shares, compared to its average volume of 436,299. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 2.80. The stock's 50-day moving average is $191.86 and its two-hundred day moving average is $174.24. The stock has a market capitalization of $6.27 billion, a price-to-earnings ratio of 10.73, a price-to-earnings-growth ratio of 1.53 and a beta of 1.04. 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 posted its quarterly earnings data on Thursday, August 7th. The company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.95 by $0.11. The company had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.21 billion. Nexstar Media Group had a net margin of 11.90% and a return on equity of 28.40%. Nexstar Media Group's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $3.54 earnings per share. As a group, analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NXST. Benchmark increased their price target on shares of Nexstar Media Group from $220.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Guggenheim increased their price target 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. Wells Fargo & Company increased their price target on shares of Nexstar Media Group from $206.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Zacks Research raised shares of Nexstar Media Group to a "hold" rating in a report on Friday, August 8th. Finally, Barrington Research reissued an "outperform" rating and issued a $225.00 price target on shares of Nexstar Media Group in a report on Tuesday, August 19th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $225.00.

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.