Harbor Capital Advisors Inc. Reduces Holdings in Nexstar Media Group, Inc. $NXST

Harbor Capital Advisors Inc. decreased its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 71.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,123 shares of the company’s stock after selling 7,689 shares during the period. Harbor Capital Advisors Inc.’s holdings in Nexstar Media Group were worth $618,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in NXST. American Century Companies Inc. boosted its stake in shares of Nexstar Media Group by 25.1% during the 1st quarter. American Century Companies Inc. now owns 8,784 shares of the company’s stock worth $1,574,000 after purchasing an additional 1,764 shares during the period. Raymond James Financial Inc. lifted its stake in Nexstar Media Group by 0.6% in the first quarter. Raymond James Financial Inc. now owns 53,526 shares of the company’s stock worth $9,593,000 after purchasing an additional 337 shares during the last quarter. AlphaQuest LLC lifted its stake in Nexstar Media Group by 75.2% in the first quarter. AlphaQuest LLC now owns 736 shares of the company’s stock worth $132,000 after purchasing an additional 316 shares during the last quarter. MetLife Investment Management LLC boosted its position in shares of Nexstar Media Group by 3.0% during the first quarter. MetLife Investment Management LLC now owns 17,503 shares of the company’s stock valued at $3,137,000 after buying an additional 516 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Nexstar Media Group during the first quarter valued at approximately $1,667,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NXST. Citigroup decreased their price target on Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating for the company in a research note on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft reduced their target price on Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Nexstar Media Group in a research note on Monday, December 22nd. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $222.38.

Nexstar Media Group Trading Up 0.7%

NASDAQ NXST opened at $204.95 on Friday. Nexstar Media Group, Inc. has a one year low of $141.66 and a one year high of $223.36. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.87 and a current ratio of 1.87. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 1.63 and a beta of 0.85. The company’s 50-day simple moving average is $194.37 and its two-hundred day simple moving average is $192.80.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, November 6th. The company reported $2.14 earnings per share for the quarter, missing the consensus estimate of $2.62 by ($0.48). Nexstar Media Group had a return on equity of 22.99% and a net margin of 10.02%.The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the company posted $5.27 EPS. Nexstar Media Group’s revenue for the quarter was down 12.3% on a year-over-year basis. Equities analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th were issued a dividend of $1.86 per share. The ex-dividend date was Wednesday, November 12th. This represents a $7.44 dividend on an annualized basis and a yield of 3.6%. Nexstar Media Group’s dividend payout ratio is currently 46.13%.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.