Ieq Capital LLC Raises Stock Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Ieq Capital LLC increased its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 63.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,887 shares of the company’s stock after acquiring an additional 1,121 shares during the period. Ieq Capital LLC’s holdings in Nexstar Media Group were worth $456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new position in Nexstar Media Group in the 3rd quarter worth $25,000. True Wealth Design LLC purchased a new position in Nexstar Media Group in the 3rd quarter worth $30,000. Wilmington Savings Fund Society FSB purchased a new position in Nexstar Media Group in the 3rd quarter worth $33,000. Capital Performance Advisors LLP purchased a new position in Nexstar Media Group in the 3rd quarter worth $44,000. Finally, Quarry LP raised its stake in Nexstar Media Group by 111.1% in the 3rd quarter. Quarry LP now owns 627 shares of the company’s stock worth $104,000 after acquiring an additional 330 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on NXST shares. StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Loop Capital downgraded Nexstar Media Group from a “buy” rating to a “hold” rating and cut their price target for the stock from $200.00 to $190.00 in a research report on Friday, November 8th. Guggenheim reaffirmed a “buy” rating on shares of Nexstar Media Group in a research report on Wednesday, January 22nd. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, November 7th. Finally, Benchmark reaffirmed a “buy” rating and set a $215.00 price target 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $204.29.

Insider Activity

In related news, CEO Perry A. Sook sold 37,025 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $160.14, for a total value of $5,929,183.50. Following the transaction, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at approximately $108,045,497.16. This trade represents a 5.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Charles Thomas Mcmillen sold 750 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $159.93, for a total transaction of $119,947.50. Following the completion of the transaction, the director now directly owns 6,975 shares in the company, valued at $1,115,511.75. This represents a 9.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,493 shares of company stock worth $20,354,366 in the last ninety days. Company insiders own 6.30% of the company’s stock.

Nexstar Media Group Price Performance

NASDAQ:NXST opened at $146.34 on Thursday. Nexstar Media Group, Inc. has a 52 week low of $146.04 and a 52 week high of $191.86. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The stock has a market capitalization of $4.54 billion, a PE ratio of 8.46, a price-to-earnings-growth ratio of 0.45 and a beta of 1.45. The stock’s 50-day moving average price is $154.97 and its 200-day moving average price is $163.29.

Nexstar Media Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a dividend of $1.86 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. This represents a $7.44 dividend on an annualized basis and a dividend yield of 5.08%. Nexstar Media Group’s dividend payout ratio (DPR) is 43.03%.

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.