Greenwood Capital Associates LLC Purchases New Shares in Nexstar Media Group, Inc. $NXST

Greenwood Capital Associates LLC purchased a new position in Nexstar Media Group, Inc. (NASDAQ:NXST) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,472 shares of the company’s stock, valued at approximately $884,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NXST. Jones Financial Companies Lllp grew its position in shares of Nexstar Media Group by 71,715.8% in the 1st quarter. Jones Financial Companies Lllp now owns 394,987 shares of the company’s stock worth $70,790,000 after buying an additional 394,437 shares during the period. New Vernon Capital Holdings II LLC bought a new stake in Nexstar Media Group during the first quarter worth about $60,064,000. AQR Capital Management LLC grew its holdings in Nexstar Media Group by 118.1% in the second quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock worth $93,795,000 after purchasing an additional 294,308 shares during the period. Norges Bank purchased a new stake in Nexstar Media Group in the second quarter worth about $46,461,000. Finally, Alliancebernstein L.P. increased its stake in shares of Nexstar Media Group by 27.1% during the second quarter. Alliancebernstein L.P. now owns 882,322 shares of the company’s stock valued at $152,598,000 after purchasing an additional 187,864 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Nexstar Media Group in a research note on Monday, December 22nd. Deutsche Bank Aktiengesellschaft cut their target price on Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Finally, Citigroup reduced their price target on Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating for the company in a report on Tuesday, November 25th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $222.38.

Nexstar Media Group Stock Up 0.7%

Nexstar Media Group stock opened at $204.95 on Friday. Nexstar Media Group, Inc. has a 12 month low of $141.66 and a 12 month high of $223.36. The stock has a fifty day simple moving average of $194.37 and a two-hundred day simple moving average of $192.80. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 2.76. The firm has a market cap of $6.22 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 1.63 and a beta of 0.85.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, November 6th. The company reported $2.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.48). Nexstar Media Group had a net margin of 10.02% and a return on equity of 22.99%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the company earned $5.27 earnings per share. The company’s revenue for the quarter was down 12.3% compared to the same quarter last year. Equities analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Wednesday, November 12th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 46.13%.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.