QVT Financial LP Has $19.21 Million Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

QVT Financial LP decreased its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 26.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 121,587 shares of the company's stock after selling 44,148 shares during the quarter. Nexstar Media Group comprises approximately 1.7% of QVT Financial LP's holdings, making the stock its 7th largest position. QVT Financial LP owned approximately 0.39% of Nexstar Media Group worth $19,207,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its position in Nexstar Media Group by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,331,355 shares of the company's stock valued at $210,314,000 after buying an additional 4,704 shares during the period. Pacer Advisors Inc. raised its position in Nexstar Media Group by 27,180.2% during the fourth quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company's stock valued at $190,650,000 after buying an additional 1,202,453 shares during the period. Charles Schwab Investment Management Inc. raised its position in Nexstar Media Group by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,102,126 shares of the company's stock valued at $174,103,000 after buying an additional 18,675 shares during the period. Demars Financial Group LLC raised its position in Nexstar Media Group by 16,009.5% during the fourth quarter. Demars Financial Group LLC now owns 773,737 shares of the company's stock valued at $122,227,000 after buying an additional 768,934 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Nexstar Media Group by 5.0% during the fourth quarter. Bank of New York Mellon Corp now owns 403,728 shares of the company's stock valued at $63,777,000 after buying an additional 19,116 shares during the period. Institutional investors and hedge funds own 95.30% of the company's stock.

Insider Buying and Selling

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 2,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $169.51, for a total transaction of $339,020.00. Following the sale, the director now directly owns 4,975 shares of the company's stock, valued at $843,312.25. This represents a 28.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew Alford sold 3,768 shares of the stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.98, for a total transaction of $685,700.64. Following the completion of the sale, the insider now directly owns 5,405 shares in the company, valued at approximately $983,601.90. The trade was a 41.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,105 shares of company stock valued at $6,722,463 over the last 90 days. Company insiders own 6.30% of the company's stock.

Nexstar Media Group Stock Down 2.8 %

NASDAQ:NXST traded down $4.17 on Thursday, hitting $145.50. 281,153 shares of the company's stock were exchanged, compared to its average volume of 377,353. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. The firm has a 50-day moving average price of $163.06 and a 200-day moving average price of $162.87. The company has a market cap of $4.44 billion, a P/E ratio of 8.39, a price-to-earnings-growth ratio of 0.45 and a beta of 1.09. Nexstar Media Group, Inc. has a 52 week low of $141.66 and a 52 week high of $191.86.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported $7.56 earnings per share for the quarter, missing analysts' consensus estimates of $9.22 by ($1.66). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.48 billion. As a group, analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on NXST. Wells Fargo & Company decreased their target price on shares of Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating for the company in a research report on Thursday. Barrington Research restated an "outperform" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Benchmark boosted their price objective on shares of Nexstar Media Group from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Loop Capital upgraded shares of Nexstar Media Group from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $190.00 to $200.00 in a research note on Friday, February 28th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Monday, March 10th. 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.com, the stock has an average rating of "Moderate Buy" and an average price target of $207.14.

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.