Steward Partners Investment Advisory LLC Grows Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Steward Partners Investment Advisory LLC grew its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 99.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 786 shares of the company’s stock after buying an additional 392 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Nexstar Media Group were worth $124,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new position in Nexstar Media Group during the third quarter worth $25,000. SBI Securities Co. Ltd. purchased a new stake in shares of Nexstar Media Group in the fourth quarter valued at $25,000. True Wealth Design LLC purchased a new stake in shares of Nexstar Media Group in the third quarter valued at $30,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Nexstar Media Group in the third quarter valued at $33,000. Finally, Jones Financial Companies Lllp grew its position in shares of Nexstar Media Group by 15.3% in the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock valued at $87,000 after purchasing an additional 73 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insider Buying and Selling at Nexstar Media Group

In related news, CFO Lee Ann Gliha sold 330 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $158.23, for a total value of $52,215.90. Following the completion of the transaction, the chief financial officer now directly owns 8,610 shares of the company’s stock, valued at $1,362,360.30. This represents a 3.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Perry A. Sook sold 35,205 shares of Nexstar Media Group stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $162.13, for a total value of $5,707,786.65. Following the sale, the chief executive officer now directly owns 674,694 shares in the company, valued at $109,388,138.22. The trade was a 4.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 161,455 shares of company stock worth $26,158,403 over the last quarter. 6.30% of the stock is owned by corporate insiders.

Nexstar Media Group Trading Up 0.8 %

NASDAQ:NXST opened at $169.88 on Monday. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. Nexstar Media Group, Inc. has a one year low of $146.04 and a one year high of $191.86. The business’s 50-day simple moving average is $157.81 and its 200 day simple moving average is $163.75. The stock has a market cap of $5.18 billion, a price-to-earnings ratio of 9.83, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, February 27th. The company reported $7.56 EPS for the quarter, missing the consensus estimate of $9.22 by ($1.66). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. As a group, sell-side analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a dividend of $1.86 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.44 annualized dividend and a yield of 4.38%. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s dividend payout ratio is presently 34.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Guggenheim lifted their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, February 28th. StockNews.com downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Rosenblatt Securities reissued a “buy” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Monday, March 10th. Barrington Research reissued an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Wednesday, March 5th. Finally, Benchmark upped their target price on Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $208.43.

Nexstar Media Group Company 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.