Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Acquired by Millennium Management LLC

Millennium Management LLC increased its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXSTFree Report) by 1,857.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,827 shares of the company’s stock after acquiring an additional 22,610 shares during the period. Millennium Management LLC owned approximately 0.07% of Nexstar Media Group worth $3,956,000 as of its most recent SEC filing.

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

Insider Activity at Nexstar Media Group

In related news, insider Sean Compton sold 3,930 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $160.61, for a total value of $631,197.30. Following the sale, the insider now directly owns 10,684 shares in the company, valued at approximately $1,715,957.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Rachel Morgan sold 6,196 shares of Nexstar Media Group stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $171.30, for a total value of $1,061,374.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sean Compton sold 3,930 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $160.61, for a total value of $631,197.30. Following the transaction, the insider now owns 10,684 shares of the company’s stock, valued at $1,715,957.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,112 shares of company stock worth $6,887,029. Insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on NXST shares. Benchmark reissued a “buy” rating and set a $225.00 target price on shares of Nexstar Media Group in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft cut their price objective on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Guggenheim decreased their target price on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, August 8th. Finally, Wells Fargo & Company reduced their price objective on 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. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $201.14.

Check Out Our Latest Stock Report on Nexstar Media Group

Nexstar Media Group Stock Performance

Shares of Nexstar Media Group stock opened at $169.67 on Monday. The business’s 50 day moving average price is $165.53 and its 200 day moving average price is $165.80. The company has a market cap of $5.59 billion, a price-to-earnings ratio of 14.35, 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 one year low of $133.55 and a one year high of $187.27.

Nexstar Media Group (NASDAQ:NXSTGet Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported $3.54 EPS for the quarter, missing the consensus estimate of $4.48 by ($0.94). Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the firm earned $2.64 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. On average, research analysts predict that Nexstar Media Group, Inc. will post 25.72 EPS for the current year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a dividend yield of 3.98%. The ex-dividend date was Friday, August 9th. Nexstar Media Group’s payout ratio is presently 57.19%.

About Nexstar Media Group

(Free Report)

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.

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

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