Stifel Financial Corp Boosts Stock Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Stifel Financial Corp grew its position in Nexstar Media Group, Inc. (NASDAQ:NXSTFree Report) by 40.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,809 shares of the company’s stock after acquiring an additional 10,350 shares during the quarter. Stifel Financial Corp owned about 0.11% of Nexstar Media Group worth $5,613,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its holdings in Nexstar Media Group by 632.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock valued at $32,000 after purchasing an additional 177 shares in the last quarter. First United Bank & Trust purchased a new position in shares of Nexstar Media Group in the fourth quarter worth about $33,000. SRS Capital Advisors Inc. boosted its position in Nexstar Media Group by 350.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 239 shares of the company’s stock worth $37,000 after acquiring an additional 186 shares during the last quarter. OLD Second National Bank of Aurora purchased a new stake in Nexstar Media Group during the 4th quarter valued at about $45,000. Finally, Quadrant Capital Group LLC grew its stake in Nexstar Media Group by 41.1% during the 4th quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock valued at $46,000 after acquiring an additional 86 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Nexstar Media Group

In related news, Director Lisbeth Mcnabb sold 3,175 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $168.00, for a total transaction of $533,400.00. Following the completion of the transaction, the director now directly owns 5,252 shares in the company, valued at approximately $882,336. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Blake Russell sold 433 shares of Nexstar Media Group stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $167.43, for a total value of $72,497.19. Following the completion of the transaction, the executive vice president now owns 25,537 shares in the company, valued at $4,275,659.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lisbeth Mcnabb sold 3,175 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $168.00, for a total transaction of $533,400.00. Following the sale, the director now owns 5,252 shares in the company, valued at $882,336. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,009 shares of company stock worth $2,166,731. 5.90% of the stock is currently owned by company insiders.

Nexstar Media Group Stock Down 0.2 %

Shares of NASDAQ:NXST opened at $156.47 on Friday. The business has a 50-day moving average price of $164.34 and a 200 day moving average price of $163.31. Nexstar Media Group, Inc. has a 12-month low of $132.30 and a 12-month high of $187.32. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 2.85. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 0.57 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXSTGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.28 by $0.88. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period last year, the business earned $2.97 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Sell-side analysts expect that Nexstar Media Group, Inc. will post 27.62 EPS for the current year.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were paid a $1.69 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.32%. Nexstar Media Group’s payout ratio is presently 57.19%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NXST. Benchmark restated a “buy” rating and set a $225.00 target price on shares of Nexstar Media Group in a report on Friday, May 10th. Loop Capital upgraded Nexstar Media Group to a “strong-buy” rating in a report on Friday, May 10th. Rosenblatt Securities cut their target price on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. Wells Fargo & Company raised shares of Nexstar Media Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $190.00 to $221.00 in a research report on Monday, May 13th. Finally, Barrington Research reissued an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and an average target price of $206.00.

Read Our Latest Research Report on NXST

Nexstar Media Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Nexstar Media Group (NASDAQ:NXST)

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