CPC Advisors LLC Purchases Shares of 11,163 Nexstar Media Group, Inc. $NXST

CPC Advisors LLC purchased a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST) during the third quarter, Holdings Channel reports. The fund purchased 11,163 shares of the company’s stock, valued at approximately $2,207,000.

A number of other hedge funds have also recently made changes to their positions in NXST. AQR Capital Management LLC increased its holdings in Nexstar Media Group by 118.1% in the 2nd quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock valued at $93,795,000 after purchasing an additional 294,308 shares during the last quarter. Norges Bank purchased a new position in shares of Nexstar Media Group during the second quarter worth $46,461,000. Hennessy Advisors Inc. acquired a new stake in shares of Nexstar Media Group in the third quarter valued at $40,023,000. Alliancebernstein L.P. raised its holdings in shares of Nexstar Media Group by 27.1% in the 2nd quarter. Alliancebernstein L.P. now owns 882,322 shares of the company’s stock valued at $152,598,000 after buying an additional 187,864 shares during the period. Finally, Marshall Wace LLP lifted its stake in Nexstar Media Group by 13,279.3% during the 2nd quarter. Marshall Wace LLP now owns 160,284 shares of the company’s stock worth $27,721,000 after acquiring an additional 159,086 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Stock Up 1.1%

Shares of Nexstar Media Group stock opened at $210.83 on Tuesday. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 2.76. Nexstar Media Group, Inc. has a 52-week low of $141.66 and a 52-week high of $223.36. The company has a market capitalization of $6.39 billion, a P/E ratio of 13.07, a P/E/G ratio of 0.79 and a beta of 0.84. The company has a 50 day moving average of $197.30 and a 200 day moving average of $195.77.

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

Nexstar Media Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders 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 yield of 3.5%. The ex-dividend date of this dividend was Wednesday, November 12th. Nexstar Media Group’s payout ratio is 46.13%.

Analyst Upgrades and Downgrades

NXST has been the subject of several research reports. Deutsche Bank Aktiengesellschaft dropped their target price 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. Citigroup cut 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, Weiss Ratings reissued a “hold (c+)” rating on shares of Nexstar Media Group in a research report on Monday, December 29th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average 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.