Bridgefront Capital LLC Boosts Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Bridgefront Capital LLC raised its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 112.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,593 shares of the company’s stock after purchasing an additional 1,370 shares during the period. Bridgefront Capital LLC’s holdings in Nexstar Media Group were worth $410,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its stake in Nexstar Media Group by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company’s stock valued at $1,073,000 after acquiring an additional 68 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Nexstar Media Group by 15.3% in the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock valued at $87,000 after purchasing an additional 73 shares in the last quarter. Mariner LLC grew its position in shares of Nexstar Media Group by 5.3% in the fourth quarter. Mariner LLC now owns 2,300 shares of the company’s stock valued at $363,000 after purchasing an additional 115 shares during the last quarter. Davis Capital Management increased its stake in shares of Nexstar Media Group by 2.0% during the 4th quarter. Davis Capital Management now owns 6,270 shares of the company’s stock worth $990,000 after purchasing an additional 122 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its position in shares of Nexstar Media Group by 5.8% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 2,518 shares of the company’s stock worth $398,000 after purchasing an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Trading Down 0.5 %

Shares of NXST stock opened at $154.52 on Wednesday. Nexstar Media Group, Inc. has a 1-year low of $141.66 and a 1-year high of $191.86. The firm’s 50-day simple moving average is $163.03 and its 200-day simple moving average is $162.29. The firm has a market cap of $4.71 billion, a P/E ratio of 8.94, a PEG ratio of 0.45 and a beta of 1.06. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, February 27th. The company reported $7.56 earnings per share for the quarter, missing analysts’ consensus estimates of $9.22 by ($1.66). The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. As a group, equities analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend is Monday, May 19th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 34.56%.

Insiders Place Their Bets

In related news, Director Charles Thomas Mcmillen sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $169.51, for a total transaction of $339,020.00. Following the completion of the sale, the director now directly owns 4,975 shares of the company’s stock, valued at approximately $843,312.25. This represents a 28.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew Alford sold 3,768 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total value of $685,700.64. Following the completion of the transaction, the insider now directly owns 5,405 shares in the company, valued at $983,601.90. This trade represents a 41.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,105 shares of company stock worth $6,722,463 over the last three months. 6.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wells Fargo & Company dropped their price target on Nexstar Media Group from $216.00 to $200.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. StockNews.com cut Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Barrington Research restated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Wednesday, March 5th. Loop Capital upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $190.00 to $200.00 in a report on Friday, February 28th. Finally, Benchmark reduced their price objective on shares of Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $205.71.

Nexstar Media Group Company Profile

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.