Quarry LP Has $37,000 Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Quarry LP reduced its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 62.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 235 shares of the company’s stock after selling 392 shares during the quarter. Quarry LP’s holdings in Nexstar Media Group were worth $37,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. grew its stake in shares of Nexstar Media Group by 27,180.2% in the fourth quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company’s stock valued at $190,650,000 after acquiring an additional 1,202,453 shares in the last quarter. Demars Financial Group LLC boosted its holdings in Nexstar Media Group by 16,009.5% in the 4th quarter. Demars Financial Group LLC now owns 773,737 shares of the company’s stock valued at $122,227,000 after purchasing an additional 768,934 shares during the period. Norges Bank acquired a new position in shares of Nexstar Media Group during the 4th quarter worth approximately $44,460,000. Proficio Capital Partners LLC bought a new position in shares of Nexstar Media Group during the fourth quarter worth approximately $35,560,000. Finally, Invesco Ltd. raised its position in shares of Nexstar Media Group by 185.0% in the fourth quarter. Invesco Ltd. now owns 219,561 shares of the company’s stock valued at $34,684,000 after buying an additional 142,520 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Loop Capital upgraded Nexstar Media Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $190.00 to $200.00 in a research note on Friday, February 28th. Wells Fargo & Company decreased their price target on Nexstar Media Group from $216.00 to $200.00 and set an “overweight” rating on the stock in a research report on Thursday. StockNews.com downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Benchmark increased their price objective on shares of Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Barrington Research restated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research report on Wednesday, March 5th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $207.14.

Insider Activity

In other Nexstar Media Group news, CEO Perry A. Sook sold 32,096 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was 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 owns 806,019 shares of the company’s stock, valued at $137,563,262.73. This represents a 3.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew Alford sold 3,768 shares of Nexstar Media Group stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total value of $685,700.64. Following the sale, the insider now directly owns 5,405 shares in the company, valued at $983,601.90. The trade was a 41.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,105 shares of company stock worth $6,722,463. Insiders own 6.30% of the company’s stock.

Nexstar Media Group Stock Performance

Nexstar Media Group stock opened at $152.66 on Friday. The stock has a market cap of $4.66 billion, a PE ratio of 8.83, a P/E/G ratio of 0.45 and a beta of 1.06. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a 12-month low of $141.66 and a 12-month high of $191.86. The business’s 50-day moving average price is $163.01 and its two-hundred day moving average price is $162.54.

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

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.