Marshall Wace LLP Buys Shares of 1,500 Nexstar Media Group, Inc. (NASDAQ:NXST)

Marshall Wace LLP purchased a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,500 shares of the company’s stock, valued at approximately $249,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Nexstar Media Group by 3.9% during the first quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock valued at $580,689,000 after acquiring an additional 127,783 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Nexstar Media Group by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock worth $220,189,000 after buying an additional 62,331 shares in the last quarter. Capital Research Global Investors bought a new position in Nexstar Media Group in the first quarter worth approximately $92,323,000. Bank of New York Mellon Corp raised its stake in Nexstar Media Group by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 418,815 shares of the company’s stock worth $69,528,000 after buying an additional 2,145 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Nexstar Media Group by 2.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 278,714 shares of the company’s stock worth $43,688,000 after buying an additional 7,514 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Insider Activity

In other news, Director Charles Thomas Mcmillen sold 250 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $164.44, for a total transaction of $41,110.00. Following the sale, the director now directly owns 7,725 shares of the company’s stock, valued at $1,270,299. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 250 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $164.44, for a total value of $41,110.00. Following the sale, the director now directly owns 7,725 shares of the company’s stock, valued at approximately $1,270,299. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jay M. Grossman sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $170.70, for a total transaction of $1,707,000.00. Following the completion of the sale, the director now directly owns 54,625 shares in the company, valued at approximately $9,324,487.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,112 shares of company stock valued at $6,887,029 over the last ninety days. 5.90% of the stock is currently owned by insiders.

Nexstar Media Group Stock Performance

Shares of NXST stock opened at $169.67 on Friday. The business’s fifty day simple moving average is $165.53 and its 200-day simple moving average is $165.84. The company has a market cap of $5.59 billion, a PE ratio of 14.35, a PEG ratio of 0.19 and a beta of 1.49. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 2.92. Nexstar Media Group, Inc. has a 12-month low of $133.55 and a 12-month high of $187.27.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. Nexstar Media Group’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $2.64 earnings per share. Analysts expect that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend was Friday, August 9th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 57.19%.

Wall Street Analyst Weigh In

NXST has been the subject of a number of recent research reports. Barrington Research reissued an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, August 8th. Wells Fargo & Company reduced their price objective on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, August 9th. StockNews.com downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Finally, Guggenheim reduced their price objective on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Nexstar Media Group has an average rating of “Moderate Buy” and a consensus target price of $201.14.

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.