Long Focus Capital Management LLC Has $12.64 Million Position in Nexstar Media Group, Inc. $NXST

Key Points

• Long Focus Capital Management LLC reduced its stake in Nexstar Media Group by 45.6%, now holding approximately 0.23% of the company valued at $12.6 million.
• Nexstar reported an earnings per share (EPS) of $3.06 in its latest quarter, exceeding estimates, although it showed a 3.2% year-over-year decrease in revenue.
• The company declared a quarterly dividend of $1.86 per share, representing a 3.6% dividend yield and a payout ratio of approximately 38.63%.

Long Focus Capital Management LLC lowered its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 45.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,500 shares of the company's stock after selling 59,000 shares during the quarter. Long Focus Capital Management LLC owned about 0.23% of Nexstar Media Group worth $12,635,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in NXST. Whipplewood Advisors LLC increased its stake in shares of Nexstar Media Group by 830.3% in the first quarter. Whipplewood Advisors LLC now owns 307 shares of the company's stock valued at $55,000 after purchasing an additional 274 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of Nexstar Media Group by 2,293.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 383 shares of the company's stock valued at $69,000 after purchasing an additional 367 shares during the period. First Horizon Advisors Inc. increased its stake in shares of Nexstar Media Group by 62.3% in the first quarter. First Horizon Advisors Inc. now owns 401 shares of the company's stock valued at $72,000 after purchasing an additional 154 shares during the period. Versant Capital Management Inc increased its stake in shares of Nexstar Media Group by 2,126.3% in the first quarter. Versant Capital Management Inc now owns 423 shares of the company's stock valued at $76,000 after purchasing an additional 404 shares during the period. Finally, SBI Securities Co. Ltd. increased its stake in shares of Nexstar Media Group by 186.7% in the first quarter. SBI Securities Co. Ltd. now owns 453 shares of the company's stock valued at $81,000 after purchasing an additional 295 shares during the period. Institutional investors and hedge funds own 95.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Guggenheim raised their price target on shares of Nexstar Media Group from $220.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Wells Fargo & Company raised their price objective on shares of Nexstar Media Group from $206.00 to $250.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Zacks Research upgraded shares of Nexstar Media Group to a "hold" rating in a research note on Friday, August 8th. Benchmark raised their price objective on shares of Nexstar Media Group from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Finally, Barrington Research reiterated an "outperform" rating and set a $225.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, August 19th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $225.00.

Insider Transactions at Nexstar Media Group

In related news, insider Brett Jenkins sold 610 shares of the firm'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 $100,802.50. Following the completion of the transaction, the insider owned 25,616 shares of the company's stock, valued at approximately $4,233,044. This trade represents a 2.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Lee Ann Gliha sold 757 shares of the firm'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 directly owned 12,826 shares of the company's stock, valued at $2,119,496.50. This represents a 5.57% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,209 shares of company stock worth $860,787. 6.70% of the stock is currently owned by insiders.

Nexstar Media Group Price Performance

NASDAQ:NXST traded up $2.83 during trading hours on Wednesday, reaching $205.79. 239,280 shares of the company's stock were exchanged, compared to its average volume of 421,709. The company has a market capitalization of $6.24 billion, a P/E ratio of 10.68, a price-to-earnings-growth ratio of 1.52 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 company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 2.80. The business's 50-day simple moving average is $190.49 and its two-hundred day simple moving average is $173.65.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $3.06 earnings per share for the quarter, topping analysts' consensus estimates of $2.95 by $0.11. The firm had revenue of $1.23 billion during 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 firm's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period last year, the firm posted $3.54 earnings per share. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a $1.86 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $7.44 dividend on an annualized basis and a yield of 3.6%. Nexstar Media Group's dividend payout ratio (DPR) is currently 38.63%.

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.