Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Acquired by Bridgefront Capital LLC

Bridgefront Capital LLC increased its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 112.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,593 shares of the company’s stock after purchasing an additional 1,370 shares during the quarter. Bridgefront Capital LLC’s holdings in Nexstar Media Group were worth $410,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. KBC Group NV boosted its position in Nexstar Media Group by 1,801.8% in the 4th quarter. KBC Group NV now owns 17,230 shares of the company’s stock valued at $2,722,000 after buying an additional 16,324 shares during the last quarter. Entropy Technologies LP purchased a new position in Nexstar Media Group in the fourth quarter valued at about $506,000. Barclays PLC grew its stake in Nexstar Media Group by 16.8% during the 3rd quarter. Barclays PLC now owns 45,051 shares of the company’s stock valued at $7,448,000 after purchasing an additional 6,475 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Nexstar Media Group during the 4th quarter worth approximately $1,264,000. Finally, Pacer Advisors Inc. raised its position in shares of 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 valued at $190,650,000 after purchasing an additional 1,202,453 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group Stock Performance

Shares of NASDAQ NXST opened at $154.52 on Wednesday. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The firm’s 50-day moving average price is $163.03 and its two-hundred day moving average price is $162.29. Nexstar Media Group, Inc. has a 52-week low of $141.66 and a 52-week high of $191.86. The stock has a market capitalization of $4.71 billion, a P/E ratio of 8.94, a P/E/G ratio of 0.45 and a beta of 1.06.

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 net margin of 11.39% and a return on equity of 26.03%. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.48 billion. As a group, sell-side analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a dividend of $1.86 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $7.44 annualized dividend and a dividend yield of 4.81%. Nexstar Media Group’s dividend payout ratio is presently 34.56%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NXST. Barrington Research reissued an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Wednesday, March 5th. Rosenblatt Securities reissued a “buy” rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Monday, March 10th. Guggenheim upped their target price on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Loop Capital upgraded Nexstar Media Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $190.00 to $200.00 in a research note on Friday, February 28th. Finally, Benchmark cut their price objective on Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $205.71.

Insider Buying and Selling

In related news, insider Andrew Alford sold 3,768 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.98, for a total transaction of $685,700.64. Following the sale, the insider now owns 5,405 shares of the company’s stock, valued at $983,601.90. The trade was a 41.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Perry A. Sook sold 32,096 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 806,019 shares of the company’s stock, 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 sold 39,105 shares of company stock valued at $6,722,463 in the last three months. 6.30% of the stock is currently owned by corporate insiders.

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.