Trexquant Investment LP Acquires 47,289 Shares of Nexstar Media Group, Inc. $NXST

Key Points

• Trexquant Investment LP significantly increased its stake in Nexstar Media Group by 436.9%, acquiring an additional 47,289 shares to own approximately 0.19% of the company valued at $10.4 million.
• Analysts have a generally positive outlook on Nexstar Media Group, with multiple price target upgrades, including Guggenheim raising the target from **$220.00** to **$250.00** and a consensus average price target of **$225.00**.
• Nexstar Media Group recently declared a quarterly dividend of **$1.86 per share**, representing an annualized yield of **3.6%** with a payout ratio of **38.63%**.

Trexquant Investment LP raised its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 436.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,112 shares of the company's stock after acquiring an additional 47,289 shares during the quarter. Trexquant Investment LP owned about 0.19% of Nexstar Media Group worth $10,415,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of NXST. Whipplewood Advisors LLC boosted its position in Nexstar Media Group by 830.3% during the first quarter. Whipplewood Advisors LLC now owns 307 shares of the company's stock valued at $55,000 after acquiring an additional 274 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in 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 valued at $69,000 after acquiring an additional 367 shares during the last quarter. First Horizon Advisors Inc. boosted its position in Nexstar Media Group by 62.3% during the first quarter. First Horizon Advisors Inc. now owns 401 shares of the company's stock valued at $72,000 after acquiring an additional 154 shares during the last quarter. Versant Capital Management Inc boosted its position in Nexstar Media Group by 2,126.3% during the first quarter. Versant Capital Management Inc now owns 423 shares of the company's stock valued at $76,000 after acquiring an additional 404 shares during the last quarter. Finally, SBI Securities Co. Ltd. boosted its position in shares of Nexstar Media Group by 186.7% during 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. Institutional investors own 95.30% of the company's stock.

Nexstar Media Group Stock Performance

Nexstar Media Group stock traded up $2.73 during mid-day trading on Wednesday, reaching $205.69. The company's stock had a trading volume of 125,873 shares, compared to its average volume of 420,937. Nexstar Media Group, Inc. has a 12-month low of $141.66 and a 12-month high of $223.36. The company has a market capitalization of $6.24 billion, a P/E ratio of 10.68, a PEG ratio of 1.52 and a beta of 1.04. 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 firm's fifty day moving average price is $190.49 and its two-hundred day moving average price is $173.65.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its quarterly earnings data 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. Nexstar Media Group had a net margin of 11.90% and a return on equity of 28.40%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period in the previous year, the business earned $3.54 EPS. Nexstar Media Group's revenue was down 3.2% compared to the same quarter last year. Sell-side analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Friday, August 15th. Nexstar Media Group's dividend payout ratio (DPR) is 38.63%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, insider Andrew Alford sold 757 shares of Nexstar Media Group stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total transaction of $125,094.25. Following the completion of the sale, the insider directly owned 10,528 shares of the company's stock, valued at approximately $1,739,752. The trade was a 6.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Dana Zimmer sold 889 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $165.25, for a total transaction of $146,907.25. Following the completion of the sale, the insider directly owned 6,201 shares of the company's stock, valued at $1,024,715.25. This represents a 12.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,209 shares of company stock valued at $860,787 in the last ninety days. 6.70% of the stock is 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.