Caxton Associates LP Takes $430,000 Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Caxton Associates LP purchased a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,061 shares of the company’s stock, valued at approximately $430,000.

A number of other large investors have also added to or reduced their stakes in NXST. IFP Advisors Inc increased its position in Nexstar Media Group by 143.0% during the first quarter. IFP Advisors Inc now owns 294 shares of the company’s stock worth $41,000 after acquiring an additional 173 shares during the period. Meeder Asset Management Inc. increased its position in Nexstar Media Group by 1,818.8% during the first quarter. Meeder Asset Management Inc. now owns 307 shares of the company’s stock worth $43,000 after acquiring an additional 291 shares during the period. McIlrath & Eck LLC bought a new position in Nexstar Media Group during the first quarter worth about $43,000. Wealthcare Advisory Partners LLC bought a new position in Nexstar Media Group during the first quarter worth about $46,000. Finally, Ancora Advisors LLC increased its holdings in Nexstar Media Group by 155.6% in the 4th quarter. Ancora Advisors LLC now owns 575 shares of the company’s stock valued at $62,000 after buying an additional 350 shares during the period. 94.95% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have commented on the stock. Barrington Research raised their target price on shares of Nexstar Media Group from $160.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, May 5th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Nexstar Media Group from $170.00 to $185.00 and gave the company a “buy” rating in a report on Friday, July 2nd. Finally, Zacks Investment Research raised shares of Nexstar Media Group from a “sell” rating to a “hold” rating in a report on Tuesday, May 11th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $153.71.

In related news, insider Dana Zimmer sold 1,616 shares of Nexstar Media Group stock in a transaction that occurred on Monday, May 24th. The shares were sold at an average price of $152.54, for a total transaction of $246,504.64. Following the sale, the insider now directly owns 1,792 shares in the company, valued at approximately $273,351.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lisbeth Mcnabb sold 856 shares of Nexstar Media Group stock in a transaction that occurred on Thursday, May 13th. The stock was sold at an average price of $150.00, for a total transaction of $128,400.00. Following the sale, the director now owns 3,106 shares in the company, valued at $465,900. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,716 shares of company stock worth $718,237. 6.90% of the stock is owned by corporate insiders.

NXST opened at $144.50 on Thursday. The firm has a 50 day moving average of $147.48. Nexstar Media Group, Inc. has a 1-year low of $80.42 and a 1-year high of $163.62. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 2.92. The firm has a market cap of $6.18 billion, a P/E ratio of 7.60, a P/E/G ratio of 0.84 and a beta of 1.88.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Tuesday, May 4th. The company reported $4.42 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $1.31. Nexstar Media Group had a net margin of 18.91% and a return on equity of 35.70%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the company posted $3.30 EPS. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities analysts predict that Nexstar Media Group, Inc. will post 16.81 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 28th. Investors of record on Friday, May 14th were given a dividend of $0.70 per share. The ex-dividend date was Thursday, May 13th. This represents a $2.80 annualized dividend and a yield of 1.94%. Nexstar Media Group’s dividend payout ratio is presently 16.12%.

Nexstar Media Group Profile

Nexstar Media Group, Inc is a television broadcasting and digital media company, which engages in the acquisition, development, and operation of television stations and interactive community websites and digital media services. The firm offers services free over-the-air programming which includes programs produced by networks with which the stations are affiliated, programs that the stations produce, and first-run and rerun syndicated programs that the stations acquire.

Further Reading: Special Dividends

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

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