Crestline Management LP Takes $435,000 Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Crestline Management LP bought a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,755 shares of the company’s stock, valued at approximately $435,000.

Other hedge funds have also recently added to or reduced their stakes in the company. KBC Group NV lifted its stake in shares of Nexstar Media Group by 1,801.8% in the 4th quarter. KBC Group NV now owns 17,230 shares of the company’s stock valued at $2,722,000 after acquiring an additional 16,324 shares during the last quarter. Entropy Technologies LP bought a new position in Nexstar Media Group in the fourth quarter valued at about $506,000. Barclays PLC boosted its stake in shares of Nexstar Media Group by 16.8% during the third quarter. Barclays PLC now owns 45,051 shares of the company’s stock valued at $7,448,000 after purchasing an additional 6,475 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Nexstar Media Group in the fourth quarter valued at approximately $1,264,000. Finally, Pacer Advisors Inc. increased its stake in shares of Nexstar Media Group by 27,180.2% in the fourth quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company’s stock valued at $190,650,000 after buying an additional 1,202,453 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

NXST has been the topic of a number of research reports. Loop Capital raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $190.00 to $200.00 in a report on Friday, February 28th. Guggenheim increased their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a report on Friday, February 28th. Wells Fargo & Company reduced their price target on Nexstar Media Group from $216.00 to $200.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Barrington Research restated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research report on Wednesday, March 5th. Finally, StockNews.com cut Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and an average target price of $205.71.

Nexstar Media Group Price Performance

Shares of NXST opened at $164.87 on Friday. The firm has a market cap of $5.03 billion, a PE ratio of 9.54, a price-to-earnings-growth ratio of 0.45 and a beta of 1.06. Nexstar Media Group, Inc. has a 52-week low of $141.66 and a 52-week high of $191.86. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The business’s 50 day moving average price is $162.50 and its two-hundred day moving average price is $162.11.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, May 8th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.11. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. Nexstar Media Group’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.16 EPS. On average, equities analysts anticipate that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date is Monday, May 19th. Nexstar Media Group’s dividend payout ratio (DPR) is currently 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 dated Wednesday, March 5th. The shares were sold at an average price of $169.51, for a total value of $339,020.00. Following the sale, the director now owns 4,975 shares in the company, valued at $843,312.25. This represents a 28.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Perry A. Sook sold 32,096 shares of Nexstar Media Group stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $170.67, for a total value of $5,477,824.32. Following the transaction, the chief executive officer now owns 806,019 shares of the company’s stock, valued at $137,563,262.73. This trade represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,105 shares of company stock worth $6,722,463. Corporate insiders own 6.30% of the company’s stock.

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.