Caxton Associates LLP Takes Position in Nexstar Media Group, Inc. $NXST

Key Points

• Caxton Associates LLP has invested approximately $3.50 million in Nexstar Media Group, acquiring 19,553 shares, which brings their ownership to 0.06% of the company.
• Several other significant investors, including Jones Financial Companies Lllp and Victory Capital Management Inc., have also made substantial increases in their holdings in Nexstar during the first quarter.
• Nexstar Media Group recently announced a quarterly dividend of $1.86 per share, resulting in an annualized dividend yield of 3.6% and a payout ratio of 38.63%.

Caxton Associates LLP bought a new position 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 & Exchange Commission. The fund bought 19,553 shares of the company's stock, valued at approximately $3,504,000. Caxton Associates LLP owned approximately 0.06% of Nexstar Media Group at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in NXST. Whipplewood Advisors LLC increased its position in shares of Nexstar Media Group by 830.3% during the first quarter. Whipplewood Advisors LLC now owns 307 shares of the company's stock worth $55,000 after acquiring an additional 274 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of Nexstar Media Group by 2,293.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 383 shares of the company's stock worth $69,000 after acquiring an additional 367 shares in 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 in the last quarter. Versant Capital Management Inc increased its position in shares of Nexstar Media Group by 2,126.3% during the first quarter. Versant Capital Management Inc now owns 423 shares of the company's stock worth $76,000 after acquiring an additional 404 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its position in Nexstar Media Group by 186.7% in the 1st quarter. SBI Securities Co. Ltd. now owns 453 shares of the company's stock worth $81,000 after purchasing an additional 295 shares in the last quarter. 95.30% of the stock is owned by institutional investors.

Nexstar Media Group Stock Performance

NXST traded up $0.73 during midday 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 debt-to-equity ratio of 2.80, a quick ratio of 1.69 and a current ratio of 1.69. The stock has a market cap of $6.27 billion, a PE ratio of 10.75, a P/E/G ratio of 1.53 and a beta of 1.04. Nexstar Media Group, Inc. has a 12-month low of $141.66 and a 12-month high of $223.36. The business has a 50-day moving average price of $195.15 and a two-hundred day moving average price of $176.43.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its 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. The firm 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%. The company's quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the company earned $3.54 earnings per share. On average, sell-side analysts expect 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 was paid on Friday, August 29th. Shareholders 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 annualized dividend and a yield of 3.6%. Nexstar Media Group's dividend payout ratio is currently 38.63%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Nexstar Media Group from $206.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Zacks Research raised shares of Nexstar Media Group to a "hold" rating in a research report on Friday, August 8th. Barrington Research reaffirmed an "outperform" rating and issued a $225.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, August 19th. Benchmark upped their price objective on shares of Nexstar Media Group from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Finally, 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 research report on Wednesday, August 20th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Nexstar Media Group has a consensus rating of "Moderate Buy" and an average target price of $225.00.

Insiders Place Their Bets

In other Nexstar Media Group news, insider Dana Zimmer sold 889 shares of the 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 $146,907.25. Following the sale, the insider directly owned 6,201 shares in the company, valued at $1,024,715.25. This represents a 12.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lee Ann Gliha sold 757 shares of the 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 sale, the executive vice president owned 12,826 shares in the company, valued at $2,119,496.50. This represents a 5.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders 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.