SG Americas Securities LLC Raises Stock Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

SG Americas Securities LLC boosted its position in Nexstar Media Group, Inc. (NASDAQ:NXSTGet Rating) by 194.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,705 shares of the company’s stock after purchasing an additional 2,447 shares during the quarter. SG Americas Securities LLC’s holdings in Nexstar Media Group were worth $698,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Boston Partners lifted its position in Nexstar Media Group by 11.6% during the 4th quarter. Boston Partners now owns 1,229,150 shares of the company’s stock valued at $185,568,000 after acquiring an additional 127,866 shares during the period. Cardinal Capital Management LLC CT increased its stake in shares of Nexstar Media Group by 2.4% during the fourth quarter. Cardinal Capital Management LLC CT now owns 1,120,631 shares of the company’s stock valued at $169,193,000 after purchasing an additional 25,781 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Nexstar Media Group by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 667,764 shares of the company’s stock valued at $100,860,000 after purchasing an additional 3,997 shares during the last quarter. Clark Capital Management Group Inc. boosted its position in shares of Nexstar Media Group by 3.3% in the 4th quarter. Clark Capital Management Group Inc. now owns 507,510 shares of the company’s stock worth $76,624,000 after purchasing an additional 15,976 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its position in shares of Nexstar Media Group by 2.9% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 501,318 shares of the company’s stock worth $75,689,000 after purchasing an additional 14,115 shares in the last quarter. Hedge funds and other institutional investors own 96.00% of the company’s stock.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, Director Dennis Miller sold 4,989 shares of the firm’s stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $172.33, for a total value of $859,754.37. Following the transaction, the director now directly owns 1,625 shares of the company’s stock, valued at $280,036.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Dennis Miller sold 4,989 shares of the stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $172.33, for a total value of $859,754.37. Following the transaction, the director now owns 1,625 shares in the company, valued at approximately $280,036.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dana Zimmer sold 2,869 shares of the firm’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $175.97, for a total transaction of $504,857.93. Following the completion of the transaction, the insider now directly owns 1,792 shares in the company, valued at approximately $315,338.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,960 shares of company stock worth $2,233,523. 5.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NXST has been the subject of a number of recent research reports. StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Thursday, May 12th. Guggenheim lifted their price target on Nexstar Media Group from $210.00 to $220.00 in a research report on Wednesday, May 11th. Rosenblatt Securities increased their price objective on shares of Nexstar Media Group to $181.00 and gave the company a “na” rating in a research report on Monday, May 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Nexstar Media Group from $216.00 to $225.00 in a report on Thursday, May 12th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $210.57.

Nexstar Media Group Price Performance

NXST opened at $187.48 on Wednesday. The company’s 50-day simple moving average is $171.39 and its two-hundred day simple moving average is $173.10. The company has a debt-to-equity ratio of 2.47, a quick ratio of 2.02 and a current ratio of 2.02. The stock has a market capitalization of $7.57 billion, a P/E ratio of 9.11, a P/E/G ratio of 0.73 and a beta of 1.50. Nexstar Media Group, Inc. has a 52-week low of $138.80 and a 52-week high of $193.93.

Nexstar Media Group (NASDAQ:NXSTGet Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported $5.99 earnings per share for the quarter, beating the consensus estimate of $4.33 by $1.66. Nexstar Media Group had a net margin of 18.66% and a return on equity of 32.08%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the company earned $4.42 earnings per share. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, analysts predict that Nexstar Media Group, Inc. will post 25.9 EPS for the current year.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 25th. Investors of record on Thursday, August 11th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Wednesday, August 10th. Nexstar Media Group’s payout ratio is currently 17.48%.

Nexstar Media Group Company Profile

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Nexstar Media Group, Inc, a television broadcasting and digital media company, focuses on the acquisition, development, and operation of television stations and interactive community websites and digital media services in the United States. The company offers free programming to television viewing audiences.

Further Reading

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

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