Headlands Technologies LLC Increases Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Headlands Technologies LLC boosted its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 203.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,209 shares of the company’s stock after buying an additional 1,480 shares during the quarter. Headlands Technologies LLC’s holdings in Nexstar Media Group were worth $349,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NXST. SBI Securities Co. Ltd. acquired a new stake in Nexstar Media Group in the fourth quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Nexstar Media Group in the 3rd quarter valued at approximately $33,000. Jones Financial Companies Lllp raised its holdings in shares of Nexstar Media Group by 15.3% in the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock valued at $87,000 after purchasing an additional 73 shares in the last quarter. Quarry LP lifted its position in shares of Nexstar Media Group by 111.1% during the 3rd quarter. Quarry LP now owns 627 shares of the company’s stock worth $104,000 after purchasing an additional 330 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of Nexstar Media Group by 99.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 786 shares of the company’s stock worth $124,000 after purchasing an additional 392 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insider Transactions at Nexstar Media Group

In other news, CEO Perry A. Sook sold 32,096 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 806,019 shares in the company, valued at $137,563,262.73. The trade was a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles Thomas Mcmillen sold 2,000 shares of the firm’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 completion of the sale, the director now owns 4,975 shares of the company’s stock, valued at approximately $843,312.25. The trade was a 28.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,105 shares of company stock worth $6,722,463 over the last 90 days. 6.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NXST shares. Rosenblatt Securities restated a “buy” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Monday, March 10th. StockNews.com cut Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Guggenheim upped their price target on Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a report on Friday, February 28th. Barrington Research reissued an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Wednesday, March 5th. Finally, Loop Capital upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating and upped their target price for the company from $190.00 to $200.00 in a report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $208.43.

Nexstar Media Group Stock Down 8.1 %

Shares of NASDAQ:NXST opened at $153.42 on Friday. Nexstar Media Group, Inc. has a 1-year low of $146.04 and a 1-year high of $191.86. 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 stock has a market cap of $4.68 billion, a P/E ratio of 8.87, a P/E/G ratio of 0.45 and a beta of 1.09. The firm has a fifty day moving average price of $164.06 and a 200 day moving average price of $164.89.

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

Nexstar Media Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a $1.86 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.85%. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s payout ratio is presently 34.56%.

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.