Greenland Capital Management LP Boosts Holdings in Nexstar Media Group, Inc. $NXST

Greenland Capital Management LP grew its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 238.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,308 shares of the company’s stock after purchasing an additional 23,463 shares during the period. Greenland Capital Management LP owned approximately 0.11% of Nexstar Media Group worth $5,761,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Empowered Funds LLC grew its holdings in shares of Nexstar Media Group by 4.1% during the second quarter. Empowered Funds LLC now owns 68,847 shares of the company’s stock worth $11,907,000 after purchasing an additional 2,691 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of Nexstar Media Group by 4.6% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 43,457 shares of the company’s stock valued at $7,516,000 after buying an additional 1,916 shares in the last quarter. Kingsview Wealth Management LLC raised its position in shares of Nexstar Media Group by 20.4% during the 2nd quarter. Kingsview Wealth Management LLC now owns 70,635 shares of the company’s stock valued at $12,216,000 after buying an additional 11,981 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its holdings in shares of Nexstar Media Group by 189.1% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 21,605 shares of the company’s stock worth $3,737,000 after acquiring an additional 14,133 shares during the last quarter. Finally, Cetera Investment Advisers grew its position in Nexstar Media Group by 24.9% in the second quarter. Cetera Investment Advisers now owns 5,570 shares of the company’s stock worth $963,000 after acquiring an additional 1,110 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Price Performance

Shares of Nexstar Media Group stock opened at $186.64 on Wednesday. The business has a 50 day moving average of $196.18 and a 200 day moving average of $187.54. Nexstar Media Group, Inc. has a 52 week low of $141.66 and a 52 week high of $223.36. The company has a market cap of $5.66 billion, a PE ratio of 9.69, a P/E/G ratio of 1.40 and a beta of 0.99. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 2.80.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, November 6th. The company reported $2.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.48). The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Nexstar Media Group had a net margin of 11.90% and a return on equity of 28.40%. The firm’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.27 earnings per share. As a group, equities research analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th will be issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Wednesday, November 12th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 46.13%.

Analysts Set New Price Targets

Several brokerages have issued reports on NXST. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nexstar Media Group in a research note on Monday. Wells Fargo & Company boosted their target price on Nexstar Media Group from $206.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Zacks Research raised Nexstar Media Group to a “hold” rating in a research note on Friday, August 8th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Finally, Guggenheim raised their price target on shares of Nexstar Media Group from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $225.00.

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.