Bayforest Capital Ltd Raises Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Bayforest Capital Ltd increased its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 97.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,777 shares of the company’s stock after purchasing an additional 1,369 shares during the quarter. Bayforest Capital Ltd’s holdings in Nexstar Media Group were worth $498,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in NXST. D.A. Davidson & CO. acquired a new stake in shares of Nexstar Media Group in the 1st quarter worth $323,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Nexstar Media Group in the first quarter valued at about $219,000. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Nexstar Media Group by 1.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 34,484 shares of the company’s stock valued at $6,180,000 after purchasing an additional 624 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Nexstar Media Group by 0.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 79,002 shares of the company’s stock valued at $14,159,000 after purchasing an additional 294 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Nexstar Media Group by 3.6% in the 4th quarter. Janus Henderson Group PLC now owns 14,074 shares of the company’s stock valued at $2,223,000 after purchasing an additional 494 shares during the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NXST has been the topic of several recent analyst reports. Barrington Research reiterated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Wednesday. Wells Fargo & Company decreased their target price on shares of Nexstar Media Group from $216.00 to $200.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Finally, Benchmark decreased their price target on Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $205.71.

Insider Transactions at Nexstar Media Group

In other Nexstar Media Group news, COO Michael Biard sold 2,182 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $173.59, for a total transaction of $378,773.38. Following the sale, the chief operating officer directly owned 7,218 shares in the company, valued at $1,252,972.62. This represents a 23.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Dana Zimmer sold 1,151 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $175.53, for a total transaction of $202,035.03. Following the sale, the insider owned 3,141 shares in the company, valued at approximately $551,339.73. This trade represents a 26.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,474 shares of company stock valued at $3,666,988. Insiders own 6.70% of the company’s stock.

Nexstar Media Group Stock Performance

Shares of Nexstar Media Group stock opened at $187.59 on Thursday. Nexstar Media Group, Inc. has a 52 week low of $141.66 and a 52 week high of $192.36. The business’s fifty day simple moving average is $176.28 and its 200-day simple moving average is $165.92. The firm has a market cap of $5.72 billion, a PE ratio of 9.50, a price-to-earnings-growth ratio of 1.39 and a beta of 1.04. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 2.86.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, May 8th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $3.26 by $0.11. Nexstar Media Group had a return on equity of 29.21% and a net margin of 12.21%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the company posted $5.16 EPS. The company’s quarterly revenue was down 3.9% on a year-over-year basis. Equities analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date was Monday, May 19th. Nexstar Media Group’s dividend payout ratio (DPR) is 37.69%.

About Nexstar Media Group

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.