Bryce Point Capital LLC Purchases New Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Bryce Point Capital LLC purchased a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,053 shares of the company’s stock, valued at approximately $1,430,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Trexquant Investment LP acquired a new stake in Nexstar Media Group in the 4th quarter valued at about $1,710,000. Headlands Technologies LLC grew its holdings in Nexstar Media Group by 203.0% in the fourth quarter. Headlands Technologies LLC now owns 2,209 shares of the company’s stock valued at $349,000 after purchasing an additional 1,480 shares during the period. Wellington Management Group LLP acquired a new position in shares of Nexstar Media Group in the 4th quarter valued at about $2,370,000. Brandywine Global Investment Management LLC raised its stake in shares of Nexstar Media Group by 61.8% in the 4th quarter. Brandywine Global Investment Management LLC now owns 95,291 shares of the company’s stock valued at $15,053,000 after acquiring an additional 36,381 shares during the period. Finally, Pictet Asset Management Holding SA boosted its position in shares of Nexstar Media Group by 8.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 5,142 shares of the company’s stock worth $812,000 after buying an additional 389 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

NXST has been the subject of a number of recent analyst reports. Barrington Research restated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Guggenheim upped their target price on Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a report on Friday, February 28th. Benchmark boosted their target price on shares of Nexstar Media Group from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Rosenblatt Securities restated a “buy” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Monday, March 10th. Finally, Loop Capital upgraded Nexstar Media Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $190.00 to $200.00 in a research report on Friday, February 28th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $208.43.

Insider Activity at Nexstar Media Group

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 that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.98, for a total value of $685,700.64. Following the completion of the transaction, the insider now directly owns 5,405 shares in the company, valued at approximately $983,601.90. This represents a 41.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,105 shares of company stock worth $6,722,463. Insiders own 6.30% of the company’s stock.

Nexstar Media Group Price Performance

NASDAQ:NXST opened at $178.76 on Wednesday. The company’s 50-day moving average price is $163.39 and its two-hundred day moving average price is $164.85. 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 $146.04 and a 12 month high of $191.86. The firm has a market cap of $5.45 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47.

Nexstar Media Group (NASDAQ:NXST) last released 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 company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. On average, equities analysts anticipate that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a $1.86 dividend. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.44 annualized dividend and a yield of 4.16%. Nexstar Media Group’s dividend payout ratio is currently 34.56%.

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.