Point72 Asset Management L.P. grew its position in shares of Nexstar Media Group Inc (NASDAQ:NXST) by 178.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 68,502 shares of the company’s stock after purchasing an additional 43,902 shares during the period. Point72 Asset Management L.P. owned about 0.15% of Nexstar Media Group worth $4,268,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of NXST. Thompson Siegel & Walmsley LLC purchased a new position in shares of Nexstar Media Group in the second quarter worth about $125,000. Bronfman E.L. Rothschild L.P. purchased a new position in shares of Nexstar Media Group in the second quarter worth about $145,000. Victory Capital Management Inc. purchased a new position in shares of Nexstar Media Group in the third quarter worth about $172,000. SG Americas Securities LLC increased its holdings in shares of Nexstar Media Group by 29.8% in the second quarter. SG Americas Securities LLC now owns 3,418 shares of the company’s stock worth $204,000 after buying an additional 785 shares during the period. Finally, Teacher Retirement System of Texas increased its holdings in shares of Nexstar Media Group by 2.8% in the second quarter. Teacher Retirement System of Texas now owns 3,584 shares of the company’s stock worth $214,000 after buying an additional 99 shares during the period.
Nexstar Media Group Inc (NASDAQ NXST) opened at $76.35 on Tuesday. Nexstar Media Group Inc has a twelve month low of $55.95 and a twelve month high of $76.55. The stock has a market capitalization of $3,431.12, a PE ratio of 19.76, a P/E/G ratio of 1.70 and a beta of 2.21. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 3.58.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $1.20 dividend on an annualized basis and a yield of 1.57%. Nexstar Media Group’s dividend payout ratio is presently 45.11%.
Several research analysts have recently commented on the company. BidaskClub upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. Deutsche Bank lifted their price objective on Nexstar Media Group from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. B. Riley lifted their price objective on Nexstar Media Group from $79.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, November 7th. FBR & Co assumed coverage on Nexstar Media Group in a report on Tuesday, October 31st. They issued a “buy” rating and a $79.00 price objective on the stock. Finally, Zacks Investment Research downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Nexstar Media Group currently has a consensus rating of “Buy” and a consensus price target of $82.00.
In other Nexstar Media Group news, insider Julie Pruett sold 3,000 shares of Nexstar Media Group stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $60.01, for a total transaction of $180,030.00. Following the sale, the insider now directly owns 11,985 shares of the company’s stock, valued at approximately $719,219.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Gary Michael Vaughn sold 400 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $71.32, for a total value of $28,528.00. Following the sale, the insider now directly owns 7,140 shares in the company, valued at $509,224.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,267,440 shares of company stock worth $77,850,530. 7.80% of the stock is owned by company insiders.
About Nexstar Media Group
Nexstar Media Group, Inc, formerly Nexstar Broadcasting Group, Inc, is a television broadcasting and digital media company. The Company is focused on the acquisition, development and operation of television stations and interactive community Websites, and digital media services in medium-sized markets in the United States.
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