Nexstar Media Group, Inc. $NXST Shares Newly Purchased by CenterBook Partners LP

CenterBook Partners LP purchased a new position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 7,709 shares of the company's stock, valued at approximately $1,246,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NXST. Heritage Family Offices LLP acquired a new stake in Nexstar Media Group during the 3rd quarter valued at approximately $37,000. Covestor Ltd raised its position in shares of Nexstar Media Group by 130.2% in the 3rd quarter. Covestor Ltd now owns 297 shares of the company's stock valued at $48,000 after purchasing an additional 168 shares in the last quarter. SBI Securities Co. Ltd. boosted its stake in shares of Nexstar Media Group by 139.2% during the 3rd quarter. SBI Securities Co. Ltd. now owns 378 shares of the company's stock valued at $61,000 after buying an additional 220 shares during the last quarter. Harbor Investment Advisory LLC purchased a new position in shares of Nexstar Media Group during the 2nd quarter valued at approximately $63,000. Finally, Allworth Financial LP boosted its stake in shares of Nexstar Media Group by 35.8% during the 2nd quarter. Allworth Financial LP now owns 360 shares of the company's stock valued at $64,000 after buying an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NXST shares. Zacks Research downgraded shares of Nexstar Media Group from a "hold" rating to a "strong sell" rating in a research report on Monday, August 10th. Wall Street Zen raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating in a report on Saturday. Citigroup increased their price objective on shares of Nexstar Media Group from $215.00 to $225.00 and gave the company a "buy" rating in a research note on Monday. Wells Fargo & Company raised their price objective on shares of Nexstar Media Group from $249.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Nexstar Media Group from $255.00 to $240.00 and set a "buy" rating for the company in a report on Monday, August 10th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $257.50.

Insider Transactions at Nexstar Media Group

In other Nexstar Media Group news, COO Michael Biard sold 2,465 shares of Nexstar Media Group stock in a transaction on Monday, August 24th. The shares were sold at an average price of $185.82, for a total value of $458,046.30. Following the completion of the transaction, the chief operating officer owned 20,890 shares of the company's stock, valued at $3,881,779.80. The trade was a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Bernadette Aulestia sold 300 shares of Nexstar Media Group stock in a transaction on Monday, August 24th. The stock was sold at an average price of $186.80, for a total transaction of $56,040.00. Following the completion of the transaction, the director directly owned 4,383 shares of the company's stock, valued at approximately $818,744.40. This represents a 6.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 9,596 shares of company stock valued at $1,733,169. Company insiders own 7.00% of the company's stock.

Nexstar Media Group Trading Up 5.9%

Shares of NASDAQ NXST opened at $201.23 on Tuesday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 5.09. The stock's 50 day moving average price is $168.16 and its two-hundred day moving average price is $191.70. Nexstar Media Group, Inc. has a 52-week low of $153.17 and a 52-week high of $254.30. The stock has a market capitalization of $6.20 billion, a P/E ratio of 18.31 and a beta of 0.97.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its earnings results on Thursday, November 5th. The company reported $7.92 EPS for the quarter, missing the consensus estimate of $8.08 by ($0.16). Nexstar Media Group had a return on equity of 24.02% and a net margin of 3.20%. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the previous year, the business posted $2.14 EPS. Nexstar Media Group's revenue was up 78.0% compared to the same quarter last year. On average, analysts anticipate that Nexstar Media Group, Inc. will post 32.88 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be paid a dividend of $1.86 per share. The ex-dividend date is Friday, November 13th. This represents a $7.44 annualized dividend and a yield of 3.7%. Nexstar Media Group's dividend payout ratio (DPR) is 67.70%.

Nexstar Media Group Profile

Nexstar Media Group is a U.S. media company focused on local television broadcasting and national programming. It owns and operates local television stations across the country, many affiliated with major broadcast networks, and produces local news, sports, and other programming for viewers in their communities.

The company also operates NewsNation, a national news and entertainment network, and holds a majority interest in The CW. Its digital businesses distribute news and other content online, while advertising and fees for carrying its stations and networks are among its business activities.

Founded by Perry Sook in 1996 and headquartered in Irving, Texas, Nexstar expanded its station portfolio through acquisitions, including its 2019 acquisition of Tribune Media.

Want to see what other hedge funds are holding NXST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.