Harvest Fund Management Co. Ltd Boosts Holdings in Nexstar Media Group, Inc. $NXST

Harvest Fund Management Co. Ltd boosted its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 767.8% in the fourth quarter, HoldingsChannel reports. The fund owned 3,662 shares of the company’s stock after purchasing an additional 3,240 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Nexstar Media Group were worth $744,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Measured Wealth Private Client Group LLC purchased a new position in shares of Nexstar Media Group in the third quarter worth $28,000. Torren Management LLC purchased a new position in shares of Nexstar Media Group in the fourth quarter worth $28,000. WPG Advisers LLC raised its holdings in shares of Nexstar Media Group by 65.7% in the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock worth $36,000 after buying an additional 71 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Nexstar Media Group by 164.5% in the third quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock worth $40,000 after buying an additional 125 shares during the last quarter. Finally, State of Wyoming purchased a new position in shares of Nexstar Media Group in the second quarter worth $54,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Key Stories Impacting Nexstar Media Group

Here are the key news stories impacting Nexstar Media Group this week:

• Positive Sentiment: Brokerages currently maintain a consensus Buy rating on Nexstar Media Group, with a Street-average price target well above the stock’s recent trading range, suggesting analysts still see upside. Nexstar Media Group, Inc. (NASDAQ:NXST) Receives Consensus Recommendation of “Buy” from Brokerages
• Positive Sentiment: The company’s recent presentation at the Gabelli Sports & Media Symposium may have helped keep attention on the business and its strategy, which can support investor confidence. Nexstar Media Group, Inc. (NXST) Presents at Gabelli 18th Annual Sports & Media Symposium Transcript
• Neutral Sentiment: Nexstar also recently paid its quarterly dividend, reinforcing the stock’s income profile, though the payout ratio remains elevated and may limit enthusiasm. 3 Value Stocks with Room to Run
• Negative Sentiment: Several insiders, including EVP Lee Ann Gliha, Blake Russell, Gary Weitman, Andrew Alford, Brett Jenkins, Sean Compton, Dana Zimmer, and Lindsey Knapp, sold shares in recent filings. While the company said the transactions were mainly for tax withholding tied to equity vesting, the cluster of sales can still weigh on sentiment. Nexstar Media Group insider trades

Insiders Place Their Bets

In other news, insider Dana Zimmer sold 433 shares of Nexstar Media Group stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $182.42, for a total value of $78,987.86. Following the sale, the insider owned 3,777 shares in the company, valued at $689,000.34. This trade represents a 10.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Brett Jenkins sold 397 shares of Nexstar Media Group stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $182.42, for a total transaction of $72,420.74. Following the completion of the sale, the insider owned 27,977 shares in the company, valued at approximately $5,103,564.34. This trade represents a 1.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 12,798 shares of company stock valued at $2,428,489. 6.70% of the stock is owned by company insiders.

Analyst Ratings Changes

NXST has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a report on Monday, May 11th. Barrington Research reaffirmed an “outperform” rating and issued a $290.00 price target on shares of Nexstar Media Group in a report on Tuesday, April 28th. Wall Street Zen raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Citigroup raised shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $252.00 to $220.00 in a report on Friday, April 10th. Finally, Guggenheim raised their price target on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $259.67.

Nexstar Media Group Stock Up 0.6%

NXST stock opened at $182.02 on Friday. The firm has a market cap of $5.56 billion, a PE ratio of 39.06, a P/E/G ratio of 0.45 and a beta of 0.91. The company has a debt-to-equity ratio of 5.53, a quick ratio of 1.76 and a current ratio of 1.76. The firm’s fifty day moving average is $193.11 and its 200 day moving average is $207.52. Nexstar Media Group, Inc. has a one year low of $164.00 and a one year high of $254.30.

Nexstar Media Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a $1.86 dividend. The ex-dividend date was Friday, May 15th. This represents a $7.44 annualized dividend and a dividend yield of 4.1%. Nexstar Media Group’s dividend payout ratio (DPR) is 159.66%.

About Nexstar Media Group

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.