Entropy Technologies LP Acquires New Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Entropy Technologies LP acquired a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,200 shares of the company’s stock, valued at approximately $506,000.

A number of other institutional investors also recently bought and sold shares of NXST. GAMMA Investing LLC grew its stake in shares of Nexstar Media Group by 58.6% during the 3rd quarter. GAMMA Investing LLC now owns 468 shares of the company’s stock worth $77,000 after purchasing an additional 173 shares during the period. CWM LLC grew its stake in Nexstar Media Group by 231.2% in the 3rd quarter. CWM LLC now owns 3,902 shares of the company’s stock valued at $645,000 after acquiring an additional 2,724 shares during the period. CX Institutional grew its stake in Nexstar Media Group by 5.0% in the 3rd quarter. CX Institutional now owns 1,396 shares of the company’s stock valued at $231,000 after acquiring an additional 67 shares during the period. Creative Planning grew its stake in Nexstar Media Group by 43.8% in the 3rd quarter. Creative Planning now owns 6,925 shares of the company’s stock valued at $1,145,000 after acquiring an additional 2,108 shares during the period. Finally, nVerses Capital LLC purchased a new position in Nexstar Media Group in the 3rd quarter valued at $231,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Nexstar Media Group

In related news, Director John R. Muse sold 2,385 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $170.16, for a total transaction of $405,831.60. Following the sale, the director now owns 25,978 shares of the company’s stock, valued at $4,420,416.48. This trade represents a 8.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Perry A. Sook sold 35,205 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $162.13, for a total value of $5,707,786.65. Following the sale, the chief executive officer now directly owns 674,694 shares in the company, valued at approximately $109,388,138.22. The trade was a 4.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,209 shares of company stock worth $21,499,239 over the last 90 days. 6.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on NXST. StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Barrington Research reiterated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, November 7th. Guggenheim reiterated a “buy” rating on shares of Nexstar Media Group in a report on Wednesday, January 22nd. Loop Capital lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating and reduced their price objective for the company from $200.00 to $190.00 in a report on Friday, November 8th. Finally, Benchmark reaffirmed a “buy” rating and issued a $215.00 target price on shares of Nexstar Media Group in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $204.29.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST opened at $149.75 on Thursday. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a twelve month low of $147.25 and a twelve month high of $191.86. The stock has a 50 day moving average of $157.74 and a two-hundred day moving average of $164.87. The stock has a market cap of $4.65 billion, a P/E ratio of 8.66, a P/E/G ratio of 0.44 and a beta of 1.45.

Nexstar Media Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 4.97%. The ex-dividend date of this dividend is Wednesday, February 12th. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s dividend payout ratio is 39.10%.

Nexstar Media Group Company 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.