Crestline Management LP Acquires New Shares in Nexstar Media Group, Inc. (NASDAQ:NXST)

Crestline Management LP bought a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 2,755 shares of the company’s stock, valued at approximately $435,000.

Other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in shares of Nexstar Media Group in the fourth quarter worth about $25,000. Wilmington Savings Fund Society FSB acquired a new stake in Nexstar Media Group during the 3rd quarter worth approximately $33,000. Jones Financial Companies Lllp lifted its stake in Nexstar Media Group by 15.3% in the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock valued at $87,000 after buying an additional 73 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Nexstar Media Group by 99.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 786 shares of the company’s stock valued at $124,000 after buying an additional 392 shares during the period. Finally, Venturi Wealth Management LLC increased its position in shares of Nexstar Media Group by 31.0% during the fourth quarter. Venturi Wealth Management LLC now owns 883 shares of the company’s stock worth $139,000 after acquiring an additional 209 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NXST has been the subject of a number of research analyst reports. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Loop Capital raised Nexstar Media Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $190.00 to $200.00 in a research report on Friday, February 28th. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research report on Monday, March 10th. Benchmark decreased their price target on shares of Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company cut their price objective on shares of Nexstar Media Group from $216.00 to $200.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $205.71.

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 that occurred on Tuesday, March 4th. The shares were sold at an average price of $170.67, for a total value of $5,477,824.32. Following the completion of the transaction, the chief executive officer now directly owns 806,019 shares in the company, valued at approximately $137,563,262.73. The trade was a 3.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles Thomas Mcmillen sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $169.51, for a total transaction of $339,020.00. Following the sale, the director now owns 4,975 shares in the company, valued at $843,312.25. This represents a 28.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,105 shares of company stock valued at $6,722,463. 6.30% of the stock is currently owned by company insiders.

Nexstar Media Group Stock Performance

Shares of NXST stock opened at $164.87 on Friday. The company has a fifty day moving average price of $162.50 and a two-hundred day moving average price of $162.11. Nexstar Media Group, Inc. has a one year low of $141.66 and a one year high of $191.86. The stock has a market cap of $5.03 billion, a P/E ratio of 9.54, a P/E/G ratio of 0.45 and a beta of 1.06. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, May 8th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.11. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. Nexstar Media Group’s revenue was down 3.9% on a year-over-year basis. During the same period last year, the business posted $5.16 EPS. As a group, equities analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a dividend of $1.86 per share. The ex-dividend date is Monday, May 19th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.51%. Nexstar Media Group’s payout ratio is presently 34.56%.

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.