Headlands Technologies LLC Buys New Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Headlands Technologies LLC bought a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 717 shares of the company’s stock, valued at approximately $112,000.

A number of other large investors have also recently bought and sold shares of the company. Meritage Portfolio Management raised its holdings in shares of Nexstar Media Group by 24.5% in the fourth quarter. Meritage Portfolio Management now owns 4,492 shares of the company’s stock valued at $704,000 after purchasing an additional 885 shares during the last quarter. Alaska Permanent Fund Corp increased its stake in Nexstar Media Group by 3.0% in the 4th quarter. Alaska Permanent Fund Corp now owns 14,517 shares of the company’s stock valued at $2,276,000 after buying an additional 417 shares during the last quarter. Linden Thomas Advisory Services LLC increased its stake in Nexstar Media Group by 4.6% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 8,420 shares of the company’s stock valued at $1,320,000 after buying an additional 368 shares during the last quarter. Cetera Trust Company N.A bought a new stake in Nexstar Media Group during the 4th quarter worth about $223,000. Finally, Handelsbanken Fonder AB boosted its stake in shares of Nexstar Media Group by 57.3% during the 4th quarter. Handelsbanken Fonder AB now owns 9,330 shares of the company’s stock worth $1,462,000 after buying an additional 3,400 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Stock Up 3.7 %

Shares of NXST stock opened at $164.75 on Tuesday. Nexstar Media Group, Inc. has a 52-week low of $132.30 and a 52-week high of $187.32. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 0.59 and a beta of 1.50. The firm’s 50-day moving average is $164.98 and its 200-day moving average is $159.34. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.53 and a current ratio of 1.53.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $3.32 earnings per share for the quarter, missing analysts’ consensus estimates of $4.42 by ($1.10). Nexstar Media Group had a return on equity of 14.06% and a net margin of 7.03%. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the firm earned $8.04 EPS. Nexstar Media Group’s quarterly revenue was down 12.3% compared to the same quarter last year. Sell-side analysts predict that Nexstar Media Group, Inc. will post 26.73 EPS for the current year.

Nexstar Media Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date is Thursday, May 9th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 70.20%.

Analyst Ratings Changes

A number of analysts recently issued reports on NXST shares. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, March 7th. TheStreet upgraded Nexstar Media Group from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Finally, Rosenblatt Securities dropped their price objective on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Nexstar Media Group presently has an average rating of “Moderate Buy” and an average target price of $193.83.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 1,475 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $166.00, for a total value of $244,850.00. Following the transaction, the director now directly owns 4,525 shares in the company, valued at $751,150. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Perry A. Sook sold 31,758 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $158.66, for a total transaction of $5,038,724.28. Following the transaction, the chief executive officer now owns 636,788 shares in the company, valued at $101,032,784.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles Thomas Mcmillen sold 1,475 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $166.00, for a total value of $244,850.00. Following the completion of the sale, the director now owns 4,525 shares of the company’s stock, valued at $751,150. The disclosure for this sale can be found here. Insiders sold 46,508 shares of company stock valued at $7,487,950 in the last quarter. 5.90% of the stock is currently owned by insiders.

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.