Nexstar Media Group, Inc. $NXST Shares Purchased by CPC Advisors LLC

CPC Advisors LLC increased its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 114.3% in the first quarter, Holdings Channel reports. The firm owned 26,651 shares of the company’s stock after purchasing an additional 14,217 shares during the period. Nexstar Media Group comprises 0.8% of CPC Advisors LLC’s holdings, making the stock its 26th largest position. CPC Advisors LLC’s holdings in Nexstar Media Group were worth $4,819,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Dorsal Capital Management LP acquired a new stake in shares of Nexstar Media Group during the third quarter worth $74,152,000. QVT Financial LP lifted its position in Nexstar Media Group by 200.0% during the 4th quarter. QVT Financial LP now owns 155,281 shares of the company’s stock worth $31,530,000 after acquiring an additional 310,562 shares during the period. AQR Capital Management LLC grew its stake in Nexstar Media Group by 118.1% during the 2nd quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock valued at $93,795,000 after purchasing an additional 294,308 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Nexstar Media Group by 157.2% in the third quarter. JPMorgan Chase & Co. now owns 374,027 shares of the company’s stock valued at $73,960,000 after purchasing an additional 228,603 shares during the period. Finally, Norges Bank acquired a new position in shares of Nexstar Media Group in the fourth quarter valued at about $41,474,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insiders Place Their Bets

In other news, insider Sean Compton sold 840 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $170.81, for a total transaction of $143,480.40. Following the sale, the insider owned 14,430 shares of the company’s stock, valued at $2,464,788.30. This trade represents a 5.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Blake Russell sold 261 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $170.81, for a total transaction of $44,581.41. Following the transaction, the executive vice president directly owned 28,296 shares of the company’s stock, valued at approximately $4,833,239.76. This trade represents a 0.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 22,813 shares of company stock worth $4,174,731. Corporate insiders own 7.00% of the company’s stock.

Nexstar Media Group Stock Performance

Shares of NXST stock opened at $164.16 on Monday. Nexstar Media Group, Inc. has a 52-week low of $163.46 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 $5.01 billion, a PE ratio of 35.23, a price-to-earnings-growth ratio of 0.41 and a beta of 0.91. The business has a 50-day simple moving average of $189.52 and a 200-day simple moving average of $206.46.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a $1.86 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a yield of 4.5%. Nexstar Media Group’s payout ratio is presently 159.66%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NXST shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexstar Media Group in a report on Wednesday, May 27th. Citigroup upgraded shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $252.00 to $220.00 in a research note on Friday, April 10th. Wells Fargo & Company dropped their price objective 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. Benchmark cut their price objective on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Finally, Wall Street Zen raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $259.67.

Nexstar Media Group Company Profile

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.