Point72 Asset Management L.P. Takes Position in Nexstar Media Group Inc (NASDAQ:NXST)

Share on StockTwits

Point72 Asset Management L.P. acquired a new stake in Nexstar Media Group Inc (NASDAQ:NXST) in the fourth quarter, Holdings Channel.com reports. The fund acquired 126,900 shares of the company’s stock, valued at approximately $14,879,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in NXST. Captrust Financial Advisors acquired a new position in Nexstar Media Group in the 4th quarter valued at about $3,469,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Nexstar Media Group during the 4th quarter valued at approximately $2,920,000. Jane Street Group LLC raised its position in shares of Nexstar Media Group by 608.2% during the 4th quarter. Jane Street Group LLC now owns 4,833 shares of the company’s stock valued at $567,000 after buying an additional 5,784 shares during the period. First Republic Investment Management Inc. raised its position in shares of Nexstar Media Group by 7.8% during the 4th quarter. First Republic Investment Management Inc. now owns 5,391 shares of the company’s stock valued at $632,000 after buying an additional 390 shares during the period. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in Nexstar Media Group by 859.8% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 107,024 shares of the company’s stock valued at $12,549,000 after acquiring an additional 95,873 shares during the last quarter.

Shares of NASDAQ:NXST traded up $4.02 during mid-day trading on Thursday, reaching $67.57. 835,031 shares of the company were exchanged, compared to its average volume of 809,490. The company has a debt-to-equity ratio of 4.08, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 14.08, a P/E/G ratio of 0.33 and a beta of 1.36. The firm’s 50-day simple moving average is $100.11 and its 200 day simple moving average is $106.68. Nexstar Media Group Inc has a 1 year low of $43.37 and a 1 year high of $133.25.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Wednesday, February 26th. The company reported $2.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.95). Nexstar Media Group had a net margin of 7.58% and a return on equity of 13.52%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the firm earned $3.22 EPS. The firm’s revenue for the quarter was up 37.9% compared to the same quarter last year. On average, research analysts forecast that Nexstar Media Group Inc will post 17.22 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.56 per share. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $0.45. This represents a $2.24 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Thursday, February 13th. Nexstar Media Group’s dividend payout ratio (DPR) is currently 44.44%.

Several research analysts recently weighed in on the company. Zacks Investment Research lowered Nexstar Media Group from a “hold” rating to a “sell” rating in a research report on Thursday, March 5th. Barrington Research reaffirmed a “buy” rating and issued a $155.00 price target on shares of Nexstar Media Group in a research note on Monday, March 2nd. B. Riley decreased their price target on Nexstar Media Group from $140.00 to $139.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. ValuEngine upgraded Nexstar Media Group from a “sell” rating to a “hold” rating in a report on Saturday, February 29th. Finally, BidaskClub downgraded Nexstar Media Group from a “sell” rating to a “strong sell” rating in a research report on Wednesday, March 18th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $133.00.

In related news, CFO Thomas Carter sold 7,586 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $66.40, for a total transaction of $503,710.40. Following the completion of the transaction, the chief financial officer now directly owns 142,281 shares in the company, valued at approximately $9,447,458.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dennis Miller sold 625 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $107.95, for a total value of $67,468.75. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 2,125 shares of company stock valued at $160,670 and sold 19,978 shares valued at $1,294,073. Insiders own 6.40% of the company’s stock.

About Nexstar Media Group

Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. The company focuses on the acquisition, development, and operation of television stations and interactive community Websites in small and medium-sized markets. It offers free over-the-air programming to television viewing audiences.

Read More: How Do I Invest in Dividend Stocks

Want to see what other hedge funds are holding NXST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nexstar Media Group Inc (NASDAQ:NXST).

Institutional Ownership by Quarter for Nexstar Media Group (NASDAQ:NXST)

Receive News & Ratings for Nexstar Media Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nexstar Media Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply