Walleye Capital LLC Has $15.04 Million Stock Holdings in Nexstar Media Group, Inc. $NXST

Walleye Capital LLC decreased its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 28.6% during the 1st quarter, Holdings Channel reports. The firm owned 83,172 shares of the company’s stock after selling 33,375 shares during the quarter. Walleye Capital LLC’s holdings in Nexstar Media Group were worth $15,040,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in NXST. Torren Management LLC acquired a new position in Nexstar Media Group in the fourth quarter valued at approximately $28,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Nexstar Media Group in the 3rd quarter valued at $28,000. WPG Advisers LLC lifted its position in shares of Nexstar Media Group by 65.7% during the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after acquiring an additional 71 shares during the period. State of Wyoming acquired a new position in shares of Nexstar Media Group during the 2nd quarter valued at $54,000. Finally, Danske Bank A S bought a new position in Nexstar Media Group during the third quarter worth $59,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Insider Activity

In other news, COO Michael Biard sold 1,227 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $174.21, for a total transaction of $213,755.67. Following the completion of the sale, the chief operating officer directly owned 17,105 shares of the company’s stock, valued at $2,979,862.05. The trade was a 6.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Charles Thomas Mcmillen sold 1,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $180.00, for a total transaction of $180,000.00. Following the completion of the sale, the director owned 5,658 shares in the company, valued at $1,018,440. This represents a 15.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 22,813 shares of company stock valued at $4,174,731. 7.00% of the stock is currently owned by insiders.

Nexstar Media Group Stock Performance

Shares of NXST stock opened at $181.89 on Thursday. The firm has a market capitalization of $5.55 billion, a PE ratio of 39.03, a price-to-earnings-growth ratio of 0.46 and a beta of 0.91. The firm has a fifty day simple moving average of $179.05 and a two-hundred day simple moving average of $202.47. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53. Nexstar Media Group, Inc. has a 12 month low of $154.47 and a 12 month high of $254.30.

Nexstar Media Group Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Zacks Research downgraded shares of Nexstar Media Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Wells Fargo & Company reduced their target price on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Barrington Research reaffirmed an “outperform” rating and issued a $290.00 target price on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Nexstar Media Group currently has an average rating of “Moderate Buy” and a consensus target price of $259.67.

Nexstar Media Group Company Profile

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.