Capstone Investment Advisors LLC Invests $355,000 in Nexstar Media Group, Inc. (NASDAQ:NXST)

Capstone Investment Advisors LLC purchased a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,144 shares of the company’s stock, valued at approximately $355,000.

Other institutional investors have also recently bought and sold shares of the company. Copeland Capital Management LLC increased its stake in shares of Nexstar Media Group by 18.1% in the third quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock valued at $90,567,000 after buying an additional 83,829 shares in the last quarter. AQR Capital Management LLC increased its position in Nexstar Media Group by 72.0% in the 2nd quarter. AQR Capital Management LLC now owns 199,811 shares of the company’s stock valued at $32,769,000 after acquiring an additional 83,637 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Nexstar Media Group by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock worth $220,189,000 after acquiring an additional 62,331 shares during the last quarter. Long Focus Capital Management LLC lifted its position in shares of Nexstar Media Group by 86.2% during the second quarter. Long Focus Capital Management LLC now owns 121,000 shares of the company’s stock worth $20,087,000 after purchasing an additional 56,000 shares in the last quarter. Finally, Payden & Rygel grew its stake in shares of Nexstar Media Group by 40.4% during the third quarter. Payden & Rygel now owns 110,200 shares of the company’s stock valued at $18,222,000 after purchasing an additional 31,700 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Insider Buying and Selling at Nexstar Media Group

In other news, CEO Perry A. Sook sold 12,239 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $190.28, for a total value of $2,328,836.92. Following the completion of the transaction, the chief executive officer now owns 674,694 shares in the company, valued at $128,380,774.32. This represents a 1.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brett Jenkins sold 4,331 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $170.64, for a total transaction of $739,041.84. Following the completion of the sale, the insider now directly owns 25,540 shares in the company, valued at $4,358,145.60. This represents a 14.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,423 shares of company stock valued at $7,916,739. Company insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NXST. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Benchmark restated a “buy” rating and set a $215.00 target price on shares of Nexstar Media Group in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft decreased their price target on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Loop Capital cut Nexstar Media Group from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $200.00 to $190.00 in a report on Friday, November 8th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $198.50.

Nexstar Media Group Stock Performance

Shares of NASDAQ:NXST opened at $170.59 on Friday. The firm’s 50 day simple moving average is $169.23 and its 200 day simple moving average is $167.15. Nexstar Media Group, Inc. has a fifty-two week low of $141.38 and a fifty-two week high of $191.86. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of 9.87, a P/E/G ratio of 0.20 and a beta of 1.48. 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 posted its earnings results on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing the consensus estimate of $5.51 by ($0.24). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the business posted $0.70 earnings per share. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, sell-side analysts forecast that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a dividend of $1.69 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $6.76 annualized dividend and a yield of 3.96%. Nexstar Media Group’s dividend payout ratio is presently 39.10%.

About Nexstar Media Group

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.