Point72 Asset Management L.P. Has $8.81 Million Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Point72 Asset Management L.P. decreased its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 77.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 53,046 shares of the company’s stock after selling 177,135 shares during the quarter. Point72 Asset Management L.P. owned about 0.16% of Nexstar Media Group worth $8,806,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Nexstar Media Group by 3.9% during the first quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock valued at $580,689,000 after acquiring an additional 127,783 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Nexstar Media Group by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock worth $220,189,000 after purchasing an additional 62,331 shares during the period. Capital Research Global Investors bought a new stake in Nexstar Media Group in the first quarter worth approximately $92,323,000. Bank of New York Mellon Corp increased its holdings in Nexstar Media Group by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 418,815 shares of the company’s stock worth $69,528,000 after purchasing an additional 2,145 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Nexstar Media Group by 2.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 278,714 shares of the company’s stock valued at $43,688,000 after buying an additional 7,514 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NXST. Wells Fargo & Company lowered their price objective on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Barrington Research restated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, August 8th. Benchmark reaffirmed a “buy” rating and set a $225.00 price target on shares of Nexstar Media Group in a research note on Friday, August 9th. Finally, StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Thursday, September 26th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Nexstar Media Group currently has an average rating of “Buy” and a consensus target price of $201.67.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST opened at $164.82 on Wednesday. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 0.19 and a beta of 1.49. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78. Nexstar Media Group, Inc. has a fifty-two week low of $132.30 and a fifty-two week high of $187.27. The firm’s 50-day simple moving average is $168.28 and its 200 day simple moving average is $165.87.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the business earned $2.64 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, research analysts anticipate that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a $1.69 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.76 annualized dividend and a dividend yield of 4.10%. Nexstar Media Group’s payout ratio is 57.19%.

Insider Transactions at Nexstar Media Group

In related news, insider Gary Weitman sold 7,261 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $164.80, for a total transaction of $1,196,612.80. Following the transaction, the insider now directly owns 5,216 shares in the company, valued at $859,596.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Andrew Alford sold 3,175 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $167.82, for a total transaction of $532,828.50. Following the completion of the sale, the insider now directly owns 9,173 shares of the company’s stock, valued at approximately $1,539,412.86. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Gary Weitman sold 7,261 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $164.80, for a total transaction of $1,196,612.80. Following the completion of the transaction, the insider now directly owns 5,216 shares in the company, valued at $859,596.80. The disclosure for this sale can be found here. Insiders sold a total of 41,112 shares of company stock worth $6,887,029 in the last quarter. 5.90% of the stock is currently owned by corporate insiders.

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.