Headlands Technologies LLC Invests $112,000 in Nexstar Media Group, Inc. (NASDAQ:NXST)

Headlands Technologies LLC acquired a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 717 shares of the company’s stock, valued at approximately $112,000.

A number of other institutional investors have also recently added to or reduced their stakes in NXST. Signaturefd LLC lifted its stake in Nexstar Media Group by 20.3% in the fourth quarter. Signaturefd LLC now owns 420 shares of the company’s stock valued at $66,000 after buying an additional 71 shares during the last quarter. Fifth Third Bancorp grew its position in Nexstar Media Group by 7.8% in the 4th quarter. Fifth Third Bancorp now owns 1,122 shares of the company’s stock worth $176,000 after purchasing an additional 81 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in shares of Nexstar Media Group by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 19,999 shares of the company’s stock valued at $2,867,000 after purchasing an additional 91 shares during the period. Miracle Mile Advisors LLC raised its holdings in shares of Nexstar Media Group by 4.0% during the third quarter. Miracle Mile Advisors LLC now owns 3,064 shares of the company’s stock valued at $439,000 after buying an additional 119 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Nexstar Media Group by 5.0% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,608 shares of the company’s stock worth $374,000 after buying an additional 124 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Dennis J. Fitzsimons sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $170.82, for a total transaction of $341,640.00. Following the completion of the sale, the director now directly owns 12,027 shares in the company, valued at $2,054,452.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Nexstar Media Group news, EVP Michael Strober sold 1,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $167.49, for a total transaction of $167,490.00. Following the sale, the executive vice president now owns 1,076 shares in the company, valued at approximately $180,219.24. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Dennis J. Fitzsimons sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $170.82, for a total transaction of $341,640.00. Following the sale, the director now directly owns 12,027 shares of the company’s stock, valued at $2,054,452.14. The disclosure for this sale can be found here. Insiders have sold 46,508 shares of company stock worth $7,487,950 in the last ninety days. 5.90% of the stock is currently owned by corporate insiders.

Nexstar Media Group Stock Performance

Shares of NASDAQ NXST opened at $164.75 on Tuesday. Nexstar Media Group, Inc. has a 1 year low of $132.30 and a 1 year high of $187.32. The firm has a market cap of $5.51 billion, a P/E ratio of 17.11, a PEG ratio of 0.59 and a beta of 1.50. The stock has a fifty day moving average price of $164.98 and a two-hundred day moving average price of $159.34. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.53 and a current ratio of 1.53.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $3.32 earnings per share for the quarter, missing the consensus estimate of $4.42 by ($1.10). The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.32 billion. Nexstar Media Group had a net margin of 7.03% and a return on equity of 14.06%. The company’s quarterly revenue was down 12.3% compared to the same quarter last year. During the same quarter last year, the company earned $8.04 EPS. Research analysts forecast that Nexstar Media Group, Inc. will post 26.73 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be paid a $1.69 dividend. The ex-dividend date is Thursday, May 9th. This represents a $6.76 annualized dividend and a dividend yield of 4.10%. Nexstar Media Group’s dividend payout ratio is currently 70.20%.

Analysts Set New Price Targets

Several research firms recently commented on NXST. Rosenblatt Securities lowered their target price on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. TheStreet raised Nexstar Media Group from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Finally, Barrington Research restated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, March 7th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $193.83.

Nexstar Media Group Company 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.