Sound Point Capital Management LP cut its stake in shares of Nexstar Media Group Inc (NASDAQ:NXST) by 22.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 226,090 shares of the company’s stock after selling 66,065 shares during the quarter. Nexstar Media Group makes up 3.6% of Sound Point Capital Management LP’s portfolio, making the stock its 5th largest holding. Sound Point Capital Management LP owned about 0.50% of Nexstar Media Group worth $17,680,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently bought and sold shares of NXST. First Trust Advisors LP bought a new position in shares of Nexstar Media Group during the third quarter valued at approximately $562,000. Victory Capital Management Inc. bought a new position in shares of Nexstar Media Group during the third quarter valued at approximately $172,000. State Board of Administration of Florida Retirement System grew its holdings in shares of Nexstar Media Group by 37.8% during the third quarter. State Board of Administration of Florida Retirement System now owns 23,087 shares of the company’s stock valued at $1,438,000 after purchasing an additional 6,337 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of Nexstar Media Group by 342.0% during the third quarter. Prudential Financial Inc. now owns 23,017 shares of the company’s stock valued at $1,434,000 after purchasing an additional 17,810 shares during the last quarter. Finally, Alps Advisors Inc. grew its holdings in shares of Nexstar Media Group by 17.2% during the third quarter. Alps Advisors Inc. now owns 8,001 shares of the company’s stock valued at $498,000 after purchasing an additional 1,175 shares during the last quarter.
Nexstar Media Group Inc (NXST) opened at $70.62 on Friday. Nexstar Media Group Inc has a fifty-two week low of $55.95 and a fifty-two week high of $82.95. The stock has a market capitalization of $3,236.88, a P/E ratio of 17.73, a P/E/G ratio of 0.68 and a beta of 1.82. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.57 and a quick ratio of 1.57.
Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.23. Nexstar Media Group had a return on equity of 14.44% and a net margin of 19.53%. The business had revenue of $653.66 million during the quarter, compared to analyst estimates of $645.98 million. During the same period in the prior year, the company posted $0.64 EPS. The business’s revenue for the quarter was up 110.9% compared to the same quarter last year. analysts anticipate that Nexstar Media Group Inc will post 8.28 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Friday, February 16th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 2.12%. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, February 15th. Nexstar Media Group’s dividend payout ratio is 15.02%.
NXST has been the subject of several recent research reports. Royal Bank of Canada reaffirmed a “buy” rating and set a $95.00 target price on shares of Nexstar Media Group in a report on Thursday, January 4th. BidaskClub raised Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. Zacks Investment Research lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Friday, February 16th. Noble Financial reissued a “buy” rating on shares of Nexstar Media Group in a report on Thursday, December 21st. Finally, Benchmark reissued a “buy” rating and issued a $94.00 price objective on shares of Nexstar Media Group in a report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $87.67.
In other Nexstar Media Group news, SVP Blake Russell sold 20,000 shares of the stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $78.31, for a total transaction of $1,566,200.00. Following the completion of the transaction, the senior vice president now directly owns 42,861 shares of the company’s stock, valued at approximately $3,356,444.91. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Timothy C. Busch sold 10,000 shares of the stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $79.13, for a total value of $791,300.00. Following the transaction, the insider now directly owns 50,214 shares of the company’s stock, valued at $3,973,433.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,000 shares of company stock valued at $2,755,550. 7.80% of the stock is currently owned by corporate insiders.
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Nexstar Media Group Profile
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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