AQR Capital Management LLC Grows Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

AQR Capital Management LLC lifted its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 15.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 423,808 shares of the company’s stock after buying an additional 56,935 shares during the quarter. AQR Capital Management LLC owned approximately 1.37% of Nexstar Media Group worth $66,949,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. boosted its stake in Nexstar Media Group by 27,180.2% in the 4th quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company’s stock worth $190,650,000 after buying an additional 1,202,453 shares during the last quarter. Demars Financial Group LLC boosted its position in shares of Nexstar Media Group by 16,009.5% in the fourth quarter. Demars Financial Group LLC now owns 773,737 shares of the company’s stock worth $122,227,000 after acquiring an additional 768,934 shares during the last quarter. Norges Bank acquired a new stake in shares of Nexstar Media Group in the fourth quarter worth approximately $44,460,000. Proficio Capital Partners LLC purchased a new stake in Nexstar Media Group in the fourth quarter valued at approximately $35,560,000. Finally, Invesco Ltd. increased its position in Nexstar Media Group by 185.0% during the fourth quarter. Invesco Ltd. now owns 219,561 shares of the company’s stock worth $34,684,000 after purchasing an additional 142,520 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Price Performance

NXST stock opened at $149.66 on Thursday. The stock has a 50-day simple moving average of $163.06 and a 200-day simple moving average of $162.87. The firm has a market cap of $4.57 billion, a P/E ratio of 8.66, a price-to-earnings-growth ratio of 0.45 and a beta of 1.09. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.22 by ($1.66). The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. On average, equities analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Barrington Research reissued an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Benchmark upped their price target on Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. StockNews.com downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Guggenheim boosted their target price on Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Monday, March 10th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Nexstar Media Group presently has an average rating of “Moderate Buy” and an average price target of $208.43.

Insider Buying and Selling

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $169.51, for a total transaction of $339,020.00. Following the completion of the sale, the director now owns 4,975 shares in the company, valued at $843,312.25. This trade represents a 28.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Perry A. Sook sold 32,096 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $170.67, for a total value of $5,477,824.32. Following the completion of the transaction, the chief executive officer now directly owns 806,019 shares in the company, valued at approximately $137,563,262.73. The trade was a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,105 shares of company stock valued at $6,722,463 in the last quarter. Company insiders own 6.30% of the company’s stock.

Nexstar Media Group 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.