Y Intercept Hong Kong Ltd Raises Holdings in Nexstar Media Group, Inc. $NXST

Y Intercept Hong Kong Ltd lifted its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 1,573.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 18,508 shares of the company’s stock after buying an additional 17,402 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Nexstar Media Group were worth $3,347,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of NXST. Torren Management LLC acquired a new position in Nexstar Media Group during the fourth quarter worth approximately $28,000. Measured Wealth Private Client Group LLC acquired a new position in Nexstar Media Group in the third quarter valued at $28,000. WPG Advisers LLC grew its position in Nexstar Media Group by 65.7% during the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after acquiring an additional 71 shares during the period. Danske Bank A S acquired a new stake in Nexstar Media Group during the third quarter worth about $59,000. Finally, State of Wyoming acquired a new position in shares of Nexstar Media Group in the 2nd quarter valued at about $54,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on NXST shares. Wells Fargo & Company cut their price target on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Citigroup raised shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $252.00 to $220.00 in a research report on Friday, April 10th. Benchmark cut their price objective on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Zacks Research raised Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Finally, Wall Street Zen upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Nexstar Media Group presently has a consensus rating of “Buy” and an average price target of $259.67.

Nexstar Media Group Stock Up 0.9%

Shares of Nexstar Media Group stock traded up $1.67 on Tuesday, hitting $184.44. 68,876 shares of the company’s stock traded hands, compared to its average volume of 403,834. Nexstar Media Group, Inc. has a 52-week low of $154.47 and a 52-week high of $254.30. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53. The stock has a market cap of $5.63 billion, a P/E ratio of 39.58, a PEG ratio of 0.46 and a beta of 0.91. The firm’s 50-day moving average is $184.14 and its 200 day moving average is $204.46.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, May 15th. Nexstar Media Group’s dividend payout ratio is currently 159.66%.

Insider Activity at Nexstar Media Group

In other news, insider Dana Zimmer sold 876 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $170.81, for a total transaction of $149,629.56. Following the sale, the insider owned 5,800 shares of the company’s stock, valued at approximately $990,698. The trade was a 13.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Perry A. Sook bought 12,235 shares of the business’s stock in a transaction on Friday, June 26th. The shares were acquired at an average cost of $162.26 per share, for a total transaction of $1,985,251.10. Following the purchase, the chief executive officer directly owned 899,044 shares in the company, valued at $145,878,879.44. This represents a 1.38% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 22,813 shares of company stock valued at $4,174,731 in the last ninety days. 7.00% of the stock is owned by insiders.

About Nexstar Media Group

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.