Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP boosted its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 27.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,287 shares of the company’s stock after acquiring an additional 928 shares during the period. Quantinno Capital Management LP’s holdings in Nexstar Media Group were worth $709,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NXST. Copeland Capital Management LLC raised its position in Nexstar Media Group by 18.1% during the third quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock worth $90,567,000 after acquiring an additional 83,829 shares during the last quarter. AQR Capital Management LLC raised its position in Nexstar Media Group by 72.0% during the second quarter. AQR Capital Management LLC now owns 199,811 shares of the company’s stock worth $32,769,000 after acquiring an additional 83,637 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Nexstar Media Group by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock worth $220,189,000 after acquiring an additional 62,331 shares during the last quarter. Long Focus Capital Management LLC raised its position 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 during the last quarter. Finally, Payden & Rygel raised its position in Nexstar Media Group by 40.4% during 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.

Wall Street Analysts Forecast Growth

NXST has been the subject of a number of analyst reports. 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. StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Barrington Research reissued an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, November 7th. Loop Capital lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $200.00 to $190.00 in a research report on Friday, November 8th. Finally, Guggenheim cut 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. 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 presently has an average rating of “Moderate Buy” and a consensus price target of $204.29.

Nexstar Media Group Price Performance

Nexstar Media Group stock opened at $164.60 on Friday. 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 $147.25 and a 1 year high of $191.86. The firm has a 50 day moving average price of $170.11 and a 200 day moving average price of $167.33. The company has a market cap of $5.11 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 0.20 and a beta of 1.45.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data 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 return on equity of 26.03% and a net margin of 11.39%. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the prior year, the firm earned $0.70 earnings per share. Nexstar Media Group’s quarterly revenue was up 20.7% compared to the same quarter last year. Sell-side analysts predict that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a dividend of $1.69 per share. The ex-dividend date was Friday, November 15th. This represents a $6.76 annualized dividend and a yield of 4.11%. Nexstar Media Group’s dividend payout ratio is currently 39.10%.

Insiders Place Their Bets

In other news, CEO Perry A. Sook sold 12,239 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $190.28, for a total value of $2,328,836.92. Following the completion of the transaction, the chief executive officer now directly owns 674,694 shares in the company, valued at approximately $128,380,774.32. This represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director D Geoffrey Armstrong sold 2,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $166.38, for a total transaction of $332,760.00. Following the completion of the transaction, the director now owns 7,250 shares of the company’s stock, valued at $1,206,255. This trade represents a 21.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,798 shares of company stock worth $7,989,464 over the last ninety days. 6.30% of the stock is owned by company insiders.

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.