CPC Advisors LLC Purchases New Holdings in Nexstar Media Group, Inc. $NXST

CPC Advisors LLC acquired a new position in Nexstar Media Group, Inc. (NASDAQ:NXST) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 11,163 shares of the company’s stock, valued at approximately $2,207,000.

Other hedge funds have also made changes to their positions in the company. Claret Asset Management Corp boosted its stake in shares of Nexstar Media Group by 4.1% in the second quarter. Claret Asset Management Corp now owns 1,348 shares of the company’s stock worth $233,000 after acquiring an additional 53 shares during the last quarter. Impact Capital Partners LLC lifted its holdings in Nexstar Media Group by 2.0% in the 2nd quarter. Impact Capital Partners LLC now owns 2,857 shares of the company’s stock valued at $494,000 after purchasing an additional 55 shares in the last quarter. Merit Financial Group LLC boosted its stake in Nexstar Media Group by 1.7% during the 3rd quarter. Merit Financial Group LLC now owns 3,515 shares of the company’s stock worth $695,000 after purchasing an additional 59 shares during the last quarter. Lynx Investment Advisory grew its holdings in shares of Nexstar Media Group by 3.8% during the second quarter. Lynx Investment Advisory now owns 1,800 shares of the company’s stock worth $311,000 after buying an additional 66 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Nexstar Media Group by 15.7% during the second quarter. Geneos Wealth Management Inc. now owns 589 shares of the company’s stock worth $102,000 after buying an additional 80 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Stock Performance

Nexstar Media Group stock opened at $210.83 on Tuesday. The firm has a 50 day simple moving average of $197.30 and a 200-day simple moving average of $195.77. Nexstar Media Group, Inc. has a 1-year low of $141.66 and a 1-year high of $223.36. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.87 and a quick ratio of 1.87. The stock has a market cap of $6.39 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 0.79 and a beta of 0.84.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, November 6th. The company reported $2.14 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the firm posted $5.27 EPS. The firm’s quarterly revenue was down 12.3% compared to the same quarter last year. On average, analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Dividend Announcement

The firm 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. The ex-dividend date was Wednesday, November 12th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.5%. Nexstar Media Group’s dividend payout ratio is currently 46.13%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Nexstar Media Group in a research note on Monday, December 29th. Citigroup decreased their target price on shares of Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 25th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $222.38.

About Nexstar Media Group

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.