Brevan Howard Capital Management LP Has $987,000 Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Brevan Howard Capital Management LP reduced its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 39.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,249 shares of the company's stock after selling 4,086 shares during the period. Brevan Howard Capital Management LP's holdings in Nexstar Media Group were worth $987,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NXST. Bridgefront Capital LLC lifted its holdings in shares of Nexstar Media Group by 112.0% during the fourth quarter. Bridgefront Capital LLC now owns 2,593 shares of the company's stock valued at $410,000 after acquiring an additional 1,370 shares during the period. Algert Global LLC boosted its position in Nexstar Media Group by 61.2% in the fourth quarter. Algert Global LLC now owns 5,424 shares of the company's stock valued at $857,000 after buying an additional 2,059 shares in the last quarter. AXA S.A. grew its stake in Nexstar Media Group by 10.7% during the fourth quarter. AXA S.A. now owns 14,584 shares of the company's stock worth $2,304,000 after buying an additional 1,405 shares during the last quarter. Gallagher Fiduciary Advisors LLC increased its holdings in shares of Nexstar Media Group by 25.3% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 4,755 shares of the company's stock worth $751,000 after buying an additional 961 shares in the last quarter. Finally, Parvin Asset Management LLC acquired a new position in shares of Nexstar Media Group in the 4th quarter worth approximately $158,000. Institutional investors own 95.30% of the company's stock.

Nexstar Media Group Stock Up 0.3 %

NXST stock traded up $0.56 during mid-day trading on Friday, hitting $164.87. 549,552 shares of the company were exchanged, compared to its average volume of 389,305. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. Nexstar Media Group, Inc. has a 1-year low of $141.66 and a 1-year high of $191.86. The firm's 50 day simple moving average is $162.50 and its 200 day simple moving average is $162.11. The firm has a market cap of $5.03 billion, a P/E ratio of 9.54, a P/E/G ratio of 0.45 and a beta of 1.06.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $3.37 EPS for the quarter, topping analysts' consensus estimates of $3.26 by $0.11. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm's quarterly revenue was down 3.9% on a year-over-year basis. During the same period last year, the business posted $5.16 earnings per share. On average, sell-side analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a dividend of $1.86 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $7.44 annualized dividend and a dividend yield of 4.51%. Nexstar Media Group's dividend payout ratio is currently 34.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Rosenblatt Securities reaffirmed a "buy" rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Monday, March 10th. Barrington Research restated an "outperform" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Wednesday, March 5th. Benchmark reduced their price target on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. StockNews.com lowered Nexstar Media Group from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, Guggenheim lifted their price objective on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, Nexstar Media Group currently has a consensus rating of "Moderate Buy" and an average price target of $205.71.

Insider Buying and Selling

In related news, CEO Perry A. Sook sold 32,096 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $170.67, for a total transaction of $5,477,824.32. Following the completion of the transaction, the chief executive officer now owns 806,019 shares in the company, valued at approximately $137,563,262.73. This represents a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gary Weitman sold 1,241 shares of Nexstar Media Group stock in a transaction on Friday, March 7th. The shares were sold at an average price of $177.21, for a total transaction of $219,917.61. Following the completion of the sale, the insider now owns 3,975 shares in the company, valued at $704,409.75. The trade was a 23.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,105 shares of company stock worth $6,722,463. 6.30% of the stock is owned by corporate insiders.

Nexstar Media Group 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.