Seven Eight Capital LP Buys New Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Seven Eight Capital LP bought a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,381 shares of the company’s stock, valued at approximately $410,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of NXST. Vanguard Group Inc. grew its stake in shares of Nexstar Media Group by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock worth $580,689,000 after purchasing an additional 127,783 shares during the last quarter. LSV Asset Management increased its holdings in shares of Nexstar Media Group by 5.5% in the fourth quarter. LSV Asset Management now owns 1,384,505 shares of the company’s stock valued at $217,021,000 after buying an additional 72,462 shares in the last quarter. Copeland Capital Management LLC lifted its position in shares of Nexstar Media Group by 3.4% during the 4th quarter. Copeland Capital Management LLC now owns 519,567 shares of the company’s stock valued at $81,442,000 after acquiring an additional 16,928 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Nexstar Media Group by 392.6% during the 4th quarter. Point72 Asset Management L.P. now owns 450,351 shares of the company’s stock worth $70,593,000 after acquiring an additional 358,920 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Nexstar Media Group in the 4th quarter worth $51,812,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group Stock Down 1.5 %

Nexstar Media Group stock traded down $2.68 during trading hours on Wednesday, hitting $175.00. The company had a trading volume of 225,137 shares, compared to its average volume of 347,933. The firm’s fifty day moving average is $163.54 and its 200-day moving average is $166.26. The firm has a market capitalization of $5.76 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 0.64 and a beta of 1.50. Nexstar Media Group, Inc. has a fifty-two week low of $132.30 and a fifty-two week high of $187.32. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.80 and a quick ratio of 1.80.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, May 9th. The company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.28 by $0.88. Nexstar Media Group had a return on equity of 17.18% and a net margin of 8.29%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the company earned $2.97 earnings per share. Nexstar Media Group’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, research analysts forecast that Nexstar Media Group, Inc. will post 27.62 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were paid a $1.69 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.76 annualized dividend and a dividend yield of 3.86%. Nexstar Media Group’s payout ratio is 57.19%.

Insider Buying and Selling

In other Nexstar Media Group news, insider Gary Weitman sold 432 shares of Nexstar Media Group stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $167.43, for a total value of $72,329.76. Following the completion of the sale, the insider now directly owns 10,902 shares in the company, valued at $1,825,321.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Gary Weitman sold 432 shares of Nexstar Media Group stock in a transaction on Monday, May 20th. The shares were sold at an average price of $167.43, for a total value of $72,329.76. Following the completion of the sale, the insider now owns 10,902 shares of the company’s stock, valued at approximately $1,825,321.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Blake Russell sold 433 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $167.43, for a total transaction of $72,497.19. Following the completion of the sale, the executive vice president now owns 25,537 shares of the company’s stock, valued at $4,275,659.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,826 shares of company stock worth $1,080,597. Insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Loop Capital upgraded Nexstar Media Group to a “strong-buy” rating in a research report on Friday, May 10th. Benchmark reissued a “buy” rating and issued a $225.00 target price on shares of Nexstar Media Group in a research report on Thursday, June 20th. Wells Fargo & Company upgraded shares of Nexstar Media Group from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $190.00 to $221.00 in a research report on Monday, May 13th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Tuesday. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.67.

Nexstar Media Group 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.