Dynamic Technology Lab Private Ltd Purchases Shares of 13,292 Nexstar Media Group, Inc. (NASDAQ:NXST)

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) during the third quarter, HoldingsChannel reports. The fund acquired 13,292 shares of the company’s stock, valued at approximately $2,198,000.

Other large investors have also recently modified their holdings of the company. Whittier Trust Co. purchased a new stake in Nexstar Media Group in the second quarter worth about $27,000. Allspring Global Investments Holdings LLC raised its holdings in Nexstar Media Group by 3,700.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock worth $44,000 after buying an additional 259 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Nexstar Media Group in the 3rd quarter worth $44,000. GAMMA Investing LLC boosted its holdings in shares of Nexstar Media Group by 112.2% during the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock valued at $49,000 after acquiring an additional 156 shares during the last quarter. Finally, Mascoma Wealth Management LLC bought a new stake in Nexstar Media Group in the 2nd quarter worth approximately $49,000. Institutional investors own 95.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NXST shares. Loop Capital lowered Nexstar Media Group from a “buy” rating to a “hold” rating and cut their price target for the stock from $200.00 to $190.00 in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of 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. StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Guggenheim cut 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. Finally, Barrington Research reaffirmed an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $198.50.

Insider Activity

In other Nexstar Media Group news, insider Andrew Alford sold 3,175 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $167.82, for a total transaction of $532,828.50. Following the sale, the insider now owns 9,173 shares of the company’s stock, valued at approximately $1,539,412.86. This trade represents a 25.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles Thomas Mcmillen sold 250 shares of Nexstar Media Group stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $164.44, for a total transaction of $41,110.00. Following the sale, the director now owns 7,725 shares in the company, valued at $1,270,299. This represents a 3.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,903 shares of company stock worth $7,833,240. Corporate insiders own 6.30% of the company’s stock.

Nexstar Media Group Stock Performance

NASDAQ NXST opened at $169.75 on Monday. Nexstar Media Group, Inc. has a 1-year low of $141.38 and a 1-year high of $191.86. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. The stock’s 50 day simple moving average is $168.98 and its 200-day simple moving average is $167.16. The company has a market cap of $5.27 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 0.20 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing the consensus estimate of $5.51 by ($0.24). The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The company’s revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 EPS. As a group, equities research analysts anticipate that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $1.69 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $6.76 annualized dividend and a dividend yield of 3.98%. Nexstar Media Group’s dividend payout ratio (DPR) is 39.10%.

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.