SGL Investment Advisors Inc. Takes Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

SGL Investment Advisors Inc. acquired a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,615 shares of the company’s stock, valued at approximately $3,758,000. Nexstar Media Group accounts for 1.9% of SGL Investment Advisors Inc.’s investment portfolio, making the stock its 24th biggest holding. SGL Investment Advisors Inc. owned 0.07% of Nexstar Media Group at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Copeland Capital Management LLC boosted its holdings in shares of Nexstar Media Group by 18.1% in the 3rd quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock valued at $90,567,000 after purchasing an additional 83,829 shares in the last quarter. AQR Capital Management LLC boosted its stake in Nexstar Media Group by 72.0% in the second quarter. AQR Capital Management LLC now owns 199,811 shares of the company’s stock valued at $32,769,000 after buying an additional 83,637 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Nexstar Media Group by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock valued at $220,189,000 after acquiring an additional 62,331 shares during the last quarter. Long Focus Capital Management LLC raised its stake in Nexstar Media Group by 86.2% during the second quarter. Long Focus Capital Management LLC now owns 121,000 shares of the company’s stock worth $20,087,000 after acquiring an additional 56,000 shares in the last quarter. Finally, Payden & Rygel lifted its holdings in shares of Nexstar Media Group by 40.4% in the third quarter. Payden & Rygel now owns 110,200 shares of the company’s stock worth $18,222,000 after acquiring an additional 31,700 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Insiders Place Their Bets

In related news, insider Brett Jenkins sold 4,331 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $170.64, for a total transaction of $739,041.84. Following the completion of the sale, the insider now owns 25,540 shares in the company, valued at approximately $4,358,145.60. This trade represents a 14.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Charles Thomas Mcmillen sold 250 shares of Nexstar Media Group stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $164.44, for a total transaction of $41,110.00. Following the completion of the sale, the director now directly owns 7,725 shares in the company, valued at approximately $1,270,299. This represents a 3.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,423 shares of company stock valued at $7,916,739. Corporate insiders own 6.30% of the company’s stock.

Nexstar Media Group Stock Down 0.5 %

Shares of NASDAQ:NXST opened at $170.17 on Monday. The firm has a market cap of $5.28 billion, a P/E ratio of 9.84, a PEG ratio of 0.20 and a beta of 1.45. Nexstar Media Group, Inc. has a 52-week low of $141.56 and a 52-week high of $191.86. The business’s 50 day simple moving average is $169.93 and its two-hundred day simple moving average is $167.18. 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 (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.51 by ($0.24). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the previous year, the business posted $0.70 EPS. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, research analysts forecast that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $1.69 dividend. The ex-dividend date was Friday, November 15th. This represents a $6.76 annualized dividend and a dividend yield of 3.97%. Nexstar Media Group’s payout ratio is 39.10%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Guggenheim lowered their price objective on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Loop Capital downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating and lowered their price target for the stock from $200.00 to $190.00 in a report on Friday, November 8th. Benchmark restated a “buy” rating and set a $215.00 price objective on shares of Nexstar Media Group in a research report on Friday, November 8th. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Barrington Research restated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Nexstar Media Group presently has an average rating of “Moderate Buy” and a consensus target price of $204.29.

About Nexstar Media Group

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.