Greenland Capital Management LP Boosts Holdings in Nexstar Media Group, Inc. $NXST

Greenland Capital Management LP grew its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 238.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 33,308 shares of the company’s stock after buying an additional 23,463 shares during the period. Greenland Capital Management LP’s holdings in Nexstar Media Group were worth $5,761,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Impact Capital Partners LLC increased its holdings in Nexstar Media Group by 2.0% in the 2nd quarter. Impact Capital Partners LLC now owns 2,857 shares of the company’s stock worth $494,000 after buying an additional 55 shares in the last quarter. Lynx Investment Advisory lifted its stake in Nexstar Media Group by 3.8% during the 2nd quarter. Lynx Investment Advisory now owns 1,800 shares of the company’s stock valued at $311,000 after acquiring an additional 66 shares during the period. Blue Trust Inc. boosted its holdings in shares of Nexstar Media Group by 7.3% during the 2nd quarter. Blue Trust Inc. now owns 1,195 shares of the company’s stock valued at $207,000 after acquiring an additional 81 shares during the last quarter. Drive Wealth Management LLC grew its stake in shares of Nexstar Media Group by 6.9% in the second quarter. Drive Wealth Management LLC now owns 1,254 shares of the company’s stock worth $217,000 after acquiring an additional 81 shares during the period. Finally, Verdence Capital Advisors LLC raised its holdings in shares of Nexstar Media Group by 0.8% during the second quarter. Verdence Capital Advisors LLC now owns 11,579 shares of the company’s stock valued at $2,003,000 after purchasing an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on NXST. Barrington Research reaffirmed an “outperform” rating and issued a $225.00 target price on shares of Nexstar Media Group in a research report on Tuesday, August 19th. Deutsche Bank Aktiengesellschaft cut their price objective on Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Guggenheim increased their target price on Nexstar Media Group from $220.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Benchmark upped their price target on shares of Nexstar Media Group from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Nexstar Media Group in a research note on Monday. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $225.00.

Nexstar Media Group Stock Down 0.5%

NXST opened at $186.64 on Wednesday. The company has a market capitalization of $5.66 billion, a PE ratio of 9.69, a price-to-earnings-growth ratio of 1.40 and a beta of 0.99. The firm has a 50-day simple moving average of $196.18 and a two-hundred day simple moving average of $187.54. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 2.80. Nexstar Media Group, Inc. has a 52 week low of $141.66 and a 52 week high of $223.36.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, November 6th. The company reported $2.14 EPS for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.48). Nexstar Media Group had a net margin of 11.90% and a return on equity of 28.40%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the company posted $5.27 earnings per share. Nexstar Media Group’s quarterly revenue was down 12.3% on a year-over-year basis. Analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th will be paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Wednesday, November 12th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 46.13%.

Nexstar Media Group 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.