GSA Capital Partners LLP Increases Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Key Points

• GSA Capital Partners LLP increased its stake in Nexstar Media Group by 475.9% during Q1, owning 12,145 shares worth approximately $2.18 million.
• Nexstar reported $3.37 earnings per share for the last quarter, surpassing analyst estimates, but its revenue decreased by 3.9% year-over-year.
• The company declared a quarterly dividend of $1.86 per share, equating to an annualized yield of 3.89%, with a payout ratio of 37.69%.

GSA Capital Partners LLP grew its stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 475.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,145 shares of the company's stock after purchasing an additional 10,036 shares during the period. GSA Capital Partners LLP's holdings in Nexstar Media Group were worth $2,177,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Nexstar Media Group by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,331,355 shares of the company's stock valued at $210,314,000 after purchasing an additional 4,704 shares in the last quarter. Demars Financial Group LLC raised its position in Nexstar Media Group by 13.6% during the first quarter. Demars Financial Group LLC now owns 879,253 shares of the company's stock worth $157,580,000 after acquiring an additional 105,516 shares in the last quarter. Northern Trust Corp lifted its holdings in Nexstar Media Group by 22.3% during the 4th quarter. Northern Trust Corp now owns 463,139 shares of the company's stock valued at $73,162,000 after purchasing an additional 84,367 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Nexstar Media Group by 15.5% during the 4th quarter. AQR Capital Management LLC now owns 423,808 shares of the company's stock valued at $66,949,000 after purchasing an additional 56,935 shares during the last quarter. Finally, Brown Advisory Inc. lifted its holdings in Nexstar Media Group by 58.3% during the 1st quarter. Brown Advisory Inc. now owns 352,165 shares of the company's stock valued at $63,115,000 after purchasing an additional 129,647 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NXST shares. Wells Fargo & Company reduced their price target on Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Benchmark reduced their price target on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Finally, Barrington Research restated an "outperform" rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $205.71.

Nexstar Media Group Price Performance

Nexstar Media Group stock traded down $3.05 during midday trading on Friday, hitting $184.06. 108,185 shares of the company's stock were exchanged, compared to its average volume of 419,278. The company has a market cap of $5.62 billion, a P/E ratio of 9.32, a PEG ratio of 1.34 and a beta of 1.04. The stock has a 50-day moving average price of $176.60 and a two-hundred day moving average price of $166.17. Nexstar Media Group, Inc. has a 52-week low of $141.66 and a 52-week high of $192.36. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.74 and a current ratio of 1.74.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $3.26 by $0.11. Nexstar Media Group had a return on equity of 29.21% and a net margin of 12.21%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the business posted $5.16 EPS. The company's revenue was down 3.9% compared to the same quarter last year. On average, equities research analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 4.0%. Nexstar Media Group's dividend payout ratio is presently 37.69%.

Insider Activity at Nexstar Media Group

In related news, EVP Blake Russell sold 507 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 transaction of $83,781.75. Following the sale, the executive vice president directly owned 24,826 shares in the company, valued at approximately $4,102,496.50. This represents a 2.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dana Zimmer sold 889 shares of the business'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 value of $146,907.25. Following the sale, the insider owned 6,201 shares of the company's stock, valued at approximately $1,024,715.25. The trade was a 12.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,474 shares of company stock valued at $3,666,988 in the last quarter. 6.70% of the stock is currently owned by insiders.

Nexstar Media Group Company 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.