Quest Partners LLC Raises Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Quest Partners LLC lifted its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 661.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,672 shares of the company’s stock after buying an additional 7,533 shares during the period. Quest Partners LLC’s holdings in Nexstar Media Group were worth $1,434,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Whittier Trust Co. purchased a new position in Nexstar Media Group during the second quarter worth $27,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Nexstar Media Group by 3,700.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock worth $44,000 after purchasing an additional 259 shares during the period. Capital Performance Advisors LLP bought a new position in Nexstar Media Group during the 3rd quarter valued at about $44,000. UMB Bank n.a. raised its position in Nexstar Media Group by 117.8% in the 3rd quarter. UMB Bank n.a. now owns 294 shares of the company’s stock worth $49,000 after purchasing an additional 159 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Nexstar Media Group by 112.2% in the second quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock worth $49,000 after purchasing an additional 156 shares during the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Nexstar Media Group Stock Up 0.8 %

Shares of NASDAQ NXST opened at $163.52 on Wednesday. The stock has a market capitalization of $5.07 billion, a PE ratio of 9.46, a price-to-earnings-growth ratio of 0.19 and a beta of 1.48. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a 12-month low of $141.38 and a 12-month high of $191.86. The stock’s fifty day simple moving average is $168.64 and its two-hundred day simple moving average is $167.14.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the firm earned $0.70 EPS. The firm’s quarterly revenue was up 20.7% on a year-over-year basis. As a group, analysts expect that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $1.69 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $6.76 annualized dividend and a dividend yield of 4.13%. Nexstar Media Group’s payout ratio is currently 39.10%.

Wall Street Analyst Weigh In

NXST has been the topic of several recent analyst reports. Wells Fargo & Company reduced their price target on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their target price on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Guggenheim lowered their target price on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, November 7th. Finally, Benchmark reissued a “buy” rating and issued a $215.00 price objective on shares of Nexstar Media Group in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Nexstar Media Group presently has an average rating of “Moderate Buy” and an average price target of $198.50.

Insider Activity

In related news, Director Charles Thomas Mcmillen sold 250 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $164.44, for a total value of $41,110.00. Following the transaction, the director now owns 7,725 shares in the company, valued at approximately $1,270,299. This represents a 3.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Perry A. Sook sold 12,239 shares of Nexstar Media Group stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $190.28, for a total transaction of $2,328,836.92. Following the sale, the chief executive officer now owns 674,694 shares of the company’s stock, valued at approximately $128,380,774.32. The trade was a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,361 shares of company stock valued at $8,249,331 over the last ninety days. 6.30% of the stock is currently 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.