Odyssean LLC Acquires 11,133 Shares of Nexstar Media Group, Inc. $NXST

Odyssean LLC increased its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 188.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,036 shares of the company’s stock after acquiring an additional 11,133 shares during the period. Odyssean LLC’s holdings in Nexstar Media Group were worth $3,042,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC purchased a new position in shares of Nexstar Media Group in the 3rd quarter worth approximately $28,000. State of Wyoming bought a new position in shares of Nexstar Media Group during the 2nd quarter valued at approximately $54,000. Danske Bank A S purchased a new stake in Nexstar Media Group during the 3rd quarter valued at $59,000. Harbor Investment Advisory LLC purchased a new stake in Nexstar Media Group during the 2nd quarter valued at $63,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Nexstar Media Group during the 2nd quarter valued at $67,000. 95.30% of the stock is owned by institutional investors.

Insider Transactions at Nexstar Media Group

In other Nexstar Media Group news, COO Michael Biard sold 2,465 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $185.82, for a total value of $458,046.30. Following the transaction, the chief operating officer directly owned 20,890 shares in the company, valued at $3,881,779.80. This represents a 10.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dana Zimmer sold 4,008 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $187.46, for a total transaction of $751,339.68. Following the transaction, the insider directly owned 1,792 shares in the company, valued at approximately $335,928.32. This trade represents a 69.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 16,788 shares of company stock valued at $3,011,669. Company insiders own 7.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on NXST. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexstar Media Group in a research note on Monday, August 24th. Wells Fargo & Company reduced their target price on shares of Nexstar Media Group from $253.00 to $249.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Wall Street Zen lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Zacks Research cut shares of Nexstar Media Group from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $259.00.

Nexstar Media Group Price Performance

Shares of NXST stock opened at $176.83 on Friday. Nexstar Media Group, Inc. has a 52-week low of $154.47 and a 52-week high of $254.30. The company has a debt-to-equity ratio of 5.09, a quick ratio of 1.56 and a current ratio of 1.56. The firm has a market capitalization of $5.45 billion, a P/E ratio of 33.94 and a beta of 0.90. The stock has a 50 day moving average price of $184.07 and a 200 day moving average price of $195.98.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Thursday, August 6th. The company reported $3.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.98 by ($2.37). The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Nexstar Media Group had a net margin of 3.20% and a return on equity of 24.02%. Nexstar Media Group’s revenue was up 62.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.06 EPS. As a group, sell-side analysts predict that Nexstar Media Group, Inc. will post 32.88 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, August 14th. Nexstar Media Group’s payout ratio is currently 142.80%.

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.