Quest Partners LLC Purchases Shares of 4,249 Nexstar Media Group, Inc. (NASDAQ:NXST)

Quest Partners LLC purchased a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,249 shares of the company’s stock, valued at approximately $666,000.

Several other hedge funds have also bought and sold shares of NXST. SummerHaven Investment Management LLC boosted its stake in Nexstar Media Group by 1.8% during the fourth quarter. SummerHaven Investment Management LLC now owns 4,066 shares of the company’s stock valued at $637,000 after buying an additional 70 shares during the last quarter. Signaturefd LLC boosted its stake in Nexstar Media Group by 20.3% during the fourth quarter. Signaturefd LLC now owns 420 shares of the company’s stock valued at $66,000 after buying an additional 71 shares during the last quarter. Fifth Third Bancorp boosted its stake in Nexstar Media Group by 7.8% during the fourth quarter. Fifth Third Bancorp now owns 1,122 shares of the company’s stock valued at $176,000 after buying an additional 81 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in Nexstar Media Group by 41.1% during the fourth quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock valued at $46,000 after buying an additional 86 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its position in Nexstar Media Group by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 19,999 shares of the company’s stock valued at $2,867,000 after purchasing an additional 91 shares during the period. Institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Trading Down 0.5 %

NXST opened at $161.42 on Thursday. Nexstar Media Group, Inc. has a one year low of $132.30 and a one year high of $187.32. The business’s 50 day moving average price is $166.23 and its 200 day moving average price is $162.52. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.80 and a current ratio of 1.80. The stock has a market capitalization of $5.30 billion, a PE ratio of 13.66, a P/E/G ratio of 0.59 and a beta of 1.50.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, May 9th. The company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.28 by $0.88. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the firm posted $2.97 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts expect that Nexstar Media Group, Inc. will post 27.62 EPS for the current year.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be given a dividend of $1.69 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $6.76 annualized dividend and a dividend yield of 4.19%. Nexstar Media Group’s dividend payout ratio is currently 57.19%.

Insiders Place Their Bets

In other news, EVP Blake Russell sold 433 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $167.43, for a total transaction of $72,497.19. Following the completion of the sale, the executive vice president now directly owns 25,537 shares of the company’s stock, valued at approximately $4,275,659.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Nexstar Media Group news, CEO Perry A. Sook sold 31,758 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $158.66, for a total value of $5,038,724.28. Following the transaction, the chief executive officer now owns 636,788 shares in the company, valued at approximately $101,032,784.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Blake Russell sold 433 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $167.43, for a total transaction of $72,497.19. Following the completion of the transaction, the executive vice president now owns 25,537 shares in the company, valued at approximately $4,275,659.91. The disclosure for this sale can be found here. In the last three months, insiders sold 47,373 shares of company stock valued at $7,632,777. Company insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on NXST. TheStreet upgraded Nexstar Media Group from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Barrington Research reiterated an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, May 9th. Wells Fargo & Company upgraded Nexstar Media Group from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $190.00 to $221.00 in a report on Monday, May 13th. Rosenblatt Securities reduced their price objective on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Finally, Benchmark restated a “buy” rating and set a $225.00 price objective on shares of Nexstar Media Group in a report on Friday, May 10th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.00.

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.