Sequoia Financial Advisors LLC Purchases 9,368 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Sequoia Financial Advisors LLC raised its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 669.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,767 shares of the company’s stock after acquiring an additional 9,368 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Nexstar Media Group were worth $1,688,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of NXST. Brown Brothers Harriman & Co. acquired a new position in shares of Nexstar Media Group during the first quarter valued at about $26,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Nexstar Media Group in the 3rd quarter worth about $65,000. Arlington Trust Co LLC acquired a new stake in shares of Nexstar Media Group in the 4th quarter worth about $81,000. Point72 Asset Management L.P. raised its holdings in shares of Nexstar Media Group by 101.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 526 shares of the company’s stock worth $88,000 after acquiring an additional 50,526 shares during the last quarter. Finally, Huntington National Bank raised its holdings in shares of Nexstar Media Group by 95.2% in the 3rd quarter. Huntington National Bank now owns 652 shares of the company’s stock worth $93,000 after acquiring an additional 318 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Barrington Research restated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, March 7th. Rosenblatt Securities decreased their price objective on shares of 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. Finally, TheStreet upgraded shares of Nexstar Media Group from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $193.83.

Nexstar Media Group Stock Down 2.1 %

Nexstar Media Group stock opened at $159.78 on Friday. Nexstar Media Group, Inc. has a twelve month low of $132.30 and a twelve month high of $187.32. The firm has a 50 day moving average price of $166.28 and a 200-day moving average price of $157.49. The company has a market capitalization of $5.34 billion, a P/E ratio of 16.59, a P/E/G ratio of 0.61 and a beta of 1.50. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 2.90.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Wednesday, February 28th. The company reported $3.32 earnings per share for the quarter, missing analysts’ consensus estimates of $4.42 by ($1.10). Nexstar Media Group had a net margin of 7.03% and a return on equity of 14.06%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the company earned $8.04 earnings per share. The firm’s revenue was down 12.3% on a year-over-year basis. As a group, equities analysts predict that Nexstar Media Group, Inc. will post 26.73 EPS for the current year.

Nexstar Media Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were given a dividend of $1.69 per share. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.35. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date was Thursday, February 8th. Nexstar Media Group’s dividend payout ratio is currently 70.20%.

Insider Activity

In related news, Director Dennis J. Fitzsimons sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $170.82, for a total value of $341,640.00. Following the completion of the transaction, the director now directly owns 12,027 shares of the company’s stock, valued at approximately $2,054,452.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Dennis J. Fitzsimons sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $170.82, for a total value of $341,640.00. Following the completion of the transaction, the director now directly owns 12,027 shares of the company’s stock, valued at approximately $2,054,452.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Perry A. Sook sold 31,758 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $158.66, for a total transaction of $5,038,724.28. Following the completion of the transaction, the chief executive officer now directly owns 636,788 shares of the company’s stock, valued at $101,032,784.08. The disclosure for this sale can be found here. Insiders sold 46,508 shares of company stock valued at $7,487,950 in the last three months. Company insiders own 5.90% of the company’s stock.

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.