Connor Clark & Lunn Investment Management Ltd. Has $1.08 Million Position in Nexstar Media Group, Inc. $NXST

Connor Clark & Lunn Investment Management Ltd. reduced its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 35.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,214 shares of the company’s stock after selling 3,347 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Nexstar Media Group were worth $1,075,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Kestra Private Wealth Services LLC grew its stake in Nexstar Media Group by 17.4% in the first quarter. Kestra Private Wealth Services LLC now owns 2,253 shares of the company’s stock valued at $404,000 after purchasing an additional 334 shares in the last quarter. Allianz Asset Management GmbH raised its stake in shares of Nexstar Media Group by 48.6% during the 1st quarter. Allianz Asset Management GmbH now owns 139,926 shares of the company’s stock worth $25,078,000 after purchasing an additional 45,767 shares in the last quarter. HighPoint Advisor Group LLC lifted its holdings in shares of Nexstar Media Group by 5.0% during the 1st quarter. HighPoint Advisor Group LLC now owns 1,930 shares of the company’s stock valued at $346,000 after buying an additional 92 shares during the last quarter. Y Intercept Hong Kong Ltd grew its stake in shares of Nexstar Media Group by 17.4% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 4,395 shares of the company’s stock valued at $788,000 after buying an additional 652 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of Nexstar Media Group by 1.0% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 41,541 shares of the company’s stock valued at $7,445,000 after buying an additional 418 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group Stock Up 2.9%

Nexstar Media Group stock opened at $187.54 on Tuesday. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.69 and a quick ratio of 1.69. Nexstar Media Group, Inc. has a fifty-two week low of $141.66 and a fifty-two week high of $223.36. The firm has a fifty day moving average price of $196.50 and a two-hundred day moving average price of $187.30. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of 9.74, a P/E/G ratio of 1.40 and a beta of 0.99.

Nexstar Media Group (NASDAQ:NXST) last issued 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 return on equity of 28.40% and a net margin of 11.90%.The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the firm earned $5.27 earnings per share. The business’s quarterly revenue was down 12.3% on a year-over-year basis. As a group, analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th will be issued a $1.86 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $7.44 dividend on an annualized basis and a yield of 4.0%. Nexstar Media Group’s dividend payout ratio is 46.13%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NXST. Wells Fargo & Company raised their price objective on shares of Nexstar Media Group from $206.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Zacks Research upgraded shares of Nexstar Media Group to a “hold” rating in a research note on Friday, August 8th. Barrington Research restated an “outperform” rating and set a $225.00 price target on shares of Nexstar Media Group in a report on Tuesday, August 19th. Guggenheim upped their price objective on shares of Nexstar Media Group from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.00.

Nexstar Media Group 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.