AlphaQuest LLC Buys 2,398 Shares of Nexstar Media Group, Inc. $NXST

AlphaQuest LLC boosted its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 325.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,134 shares of the company’s stock after purchasing an additional 2,398 shares during the quarter. AlphaQuest LLC’s holdings in Nexstar Media Group were worth $542,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Caitlin John LLC bought a new stake in Nexstar Media Group during the second quarter worth approximately $263,000. Lynx Investment Advisory bought a new stake in Nexstar Media Group during the first quarter worth approximately $311,000. D.A. Davidson & CO. bought a new stake in Nexstar Media Group during the first quarter worth approximately $323,000. Wedge Capital Management L L P NC boosted its position in Nexstar Media Group by 110.7% during the second quarter. Wedge Capital Management L L P NC now owns 29,751 shares of the company’s stock worth $5,145,000 after purchasing an additional 15,628 shares during the period. Finally, Crossmark Global Holdings Inc. bought a new stake in Nexstar Media Group during the first quarter worth approximately $219,000. Institutional investors own 95.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on NXST shares. Wells Fargo & Company increased their price objective on Nexstar Media Group from $206.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Guggenheim increased their price objective on Nexstar Media Group from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Barrington Research reissued an “outperform” rating and issued a $225.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, August 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Nexstar Media Group in a research report on Wednesday, October 8th. Finally, Benchmark upped their target price on Nexstar Media Group from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $225.00.

Nexstar Media Group Stock Performance

Shares of NASDAQ:NXST opened at $191.17 on Wednesday. Nexstar Media Group, Inc. has a twelve month low of $141.66 and a twelve month high of $223.36. The firm has a market cap of $5.80 billion, a PE ratio of 9.93, a price-to-earnings-growth ratio of 1.42 and a beta of 1.01. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.69 and a current ratio of 1.69. The business has a fifty day moving average of $200.47 and a 200-day moving average of $182.99.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, August 7th. The company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.95 by $0.11. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.21 billion. Nexstar Media Group had a return on equity of 28.40% and a net margin of 11.90%.The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company posted $3.54 earnings per share. On average, equities research analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $1.86 dividend. The ex-dividend date was Friday, August 15th. This represents a $7.44 annualized dividend and a yield of 3.9%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 38.63%.

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.