EntryPoint Capital LLC Takes Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

EntryPoint Capital LLC purchased a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,154 shares of the company’s stock, valued at approximately $340,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. LPL Financial LLC lifted its position in Nexstar Media Group by 9.8% in the 4th quarter. LPL Financial LLC now owns 20,506 shares of the company’s stock worth $3,166,000 after buying an additional 1,828 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Nexstar Media Group during the fourth quarter worth $1,264,000. AXQ Capital LP acquired a new stake in Nexstar Media Group during the fourth quarter valued at $408,000. Hillsdale Investment Management Inc. purchased a new position in Nexstar Media Group in the fourth quarter valued at about $790,000. Finally, Sei Investments Co. increased its position in Nexstar Media Group by 2.2% in the 4th quarter. Sei Investments Co. now owns 40,138 shares of the company’s stock worth $6,341,000 after purchasing an additional 859 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Charles Thomas Mcmillen sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $169.51, for a total transaction of $339,020.00. Following the transaction, the director now directly owns 4,975 shares in the company, valued at $843,312.25. The trade was a 28.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gary Weitman sold 1,241 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $177.21, for a total value of $219,917.61. Following the completion of the transaction, the insider now directly owns 3,975 shares of the company’s stock, valued at approximately $704,409.75. This trade represents a 23.79 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,337 shares of company stock valued at $6,036,762. 6.30% of the stock is owned by company insiders.

Nexstar Media Group Stock Up 1.0 %

NXST stock opened at $182.75 on Thursday. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 10.57, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47. The company has a 50-day moving average of $161.33 and a two-hundred day moving average of $164.39. Nexstar Media Group, Inc. has a 52-week low of $146.04 and a 52-week high of $191.86. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68.

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

Nexstar Media Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a $1.86 dividend. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date was Wednesday, February 12th. This represents a $7.44 annualized dividend and a dividend yield of 4.07%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 34.56%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NXST. Benchmark lifted their price target on Nexstar Media Group from $200.00 to $225.00 and gave the company a “buy” rating in a report on Friday, February 28th. Loop Capital raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $190.00 to $200.00 in a research report on Friday, February 28th. StockNews.com lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Finally, Guggenheim increased their target price on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $208.43.

Nexstar Media Group Company 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.