Seven Eight Capital LP Acquires 3,578 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Seven Eight Capital LP raised its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 150.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,959 shares of the company’s stock after purchasing an additional 3,578 shares during the period. Seven Eight Capital LP’s holdings in Nexstar Media Group were worth $989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. BNP Paribas Financial Markets increased its position in shares of Nexstar Media Group by 31.2% during the 4th quarter. BNP Paribas Financial Markets now owns 14,046 shares of the company’s stock valued at $2,202,000 after purchasing an additional 3,338 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Nexstar Media Group by 41.1% in the fourth quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock valued at $46,000 after acquiring an additional 86 shares during the period. Norges Bank bought a new stake in shares of Nexstar Media Group in the 4th quarter worth about $51,812,000. D.A. Davidson & CO. boosted its stake in shares of Nexstar Media Group by 18.6% during the 4th quarter. D.A. Davidson & CO. now owns 21,933 shares of the company’s stock worth $3,438,000 after purchasing an additional 3,442 shares during the period. Finally, Corient Private Wealth LLC grew its holdings in Nexstar Media Group by 0.9% during the 4th quarter. Corient Private Wealth LLC now owns 16,533 shares of the company’s stock valued at $2,591,000 after purchasing an additional 143 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft dropped their target price on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Wells Fargo & Company cut their price objective on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Benchmark reiterated a “buy” rating and set a $225.00 target price on shares of Nexstar Media Group in a research report on Friday, August 9th. Barrington Research restated an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, August 8th. Finally, StockNews.com lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Tuesday. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Nexstar Media Group presently has a consensus rating of “Moderate Buy” and an average price target of $201.67.

Nexstar Media Group Stock Performance

NXST stock opened at $166.40 on Friday. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.78 and a quick ratio of 1.78. Nexstar Media Group, Inc. has a 1-year low of $132.30 and a 1-year high of $187.27. The business has a 50-day moving average price of $169.72 and a 200 day moving average price of $165.78. The company has a market capitalization of $5.48 billion, a P/E ratio of 14.08, a PEG ratio of 0.18 and a beta of 1.50.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $4.48 by ($0.94). The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. Nexstar Media Group’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.64 EPS. As a group, equities research analysts forecast that Nexstar Media Group, Inc. will post 25.72 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend was Friday, August 9th. Nexstar Media Group’s payout ratio is 57.19%.

Insider Buying and Selling

In other Nexstar Media Group news, CFO Lee Ann Gliha sold 984 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total value of $155,107.92. Following the completion of the transaction, the chief financial officer now directly owns 8,107 shares in the company, valued at $1,277,906.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Jay M. Grossman sold 10,000 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $170.70, for a total transaction of $1,707,000.00. Following the transaction, the director now directly owns 54,625 shares in the company, valued at approximately $9,324,487.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Lee Ann Gliha sold 984 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total value of $155,107.92. Following the completion of the sale, the chief financial officer now owns 8,107 shares of the company’s stock, valued at $1,277,906.41. The disclosure for this sale can be found here. Insiders sold 30,426 shares of company stock worth $5,116,478 in the last three months. 5.90% of the stock is owned by insiders.

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.