GAMMA Investing LLC Buys 173 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

GAMMA Investing LLC lifted its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 58.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 468 shares of the company’s stock after acquiring an additional 173 shares during the period. GAMMA Investing LLC’s holdings in Nexstar Media Group were worth $77,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC bought a new position in shares of Nexstar Media Group during the 4th quarter valued at about $232,000. Goldman Sachs Group Inc. raised its position in Nexstar Media Group by 2.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 278,714 shares of the company’s stock worth $43,688,000 after purchasing an additional 7,514 shares during the period. Alaska Permanent Fund Corp boosted its position in Nexstar Media Group by 4.7% during the first quarter. Alaska Permanent Fund Corp now owns 15,204 shares of the company’s stock valued at $2,619,000 after buying an additional 687 shares during the period. American National Bank grew its stake in shares of Nexstar Media Group by 49.0% during the first quarter. American National Bank now owns 681 shares of the company’s stock valued at $117,000 after buying an additional 224 shares during the last quarter. Finally, BTC Capital Management Inc. bought a new position in shares of Nexstar Media Group during the first quarter valued at about $1,949,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Guggenheim decreased their price target on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Benchmark lowered their price objective on shares of Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating for the company in a report on Monday. Barrington Research reissued an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their price target on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Wells Fargo & Company reduced their price target on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $199.71.

Nexstar Media Group Stock Down 0.6 %

Shares of NXST opened at $167.50 on Wednesday. The business’s 50 day moving average is $165.44 and its 200 day moving average is $165.74. 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. The company has a market capitalization of $5.52 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 0.19 and a beta of 1.49.

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

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a dividend yield of 4.04%. The ex-dividend date was Friday, August 9th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 57.19%.

Insider Activity

In related news, CFO Lee Ann Gliha sold 984 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total value of $155,107.92. Following the sale, the chief financial officer now directly owns 8,107 shares in the company, valued at approximately $1,277,906.41. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Nexstar Media Group news, CFO Lee Ann Gliha sold 984 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total transaction of $155,107.92. Following the completion of the transaction, the chief financial officer now owns 8,107 shares in the company, valued at $1,277,906.41. This trade 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 is available through this link. Also, Director Jay M. Grossman sold 10,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now owns 54,625 shares in the company, valued at approximately $9,324,487.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,112 shares of company stock worth $6,887,029 over the last 90 days. Corporate insiders own 5.90% of the company’s stock.

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.