Hillsdale Investment Management Inc. Takes Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Hillsdale Investment Management Inc. bought a new position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,000 shares of the company's stock, valued at approximately $790,000.

Other hedge funds have also bought and sold shares of the company. Brooklyn Investment Group bought a new position in Nexstar Media Group during the 3rd quarter worth approximately $25,000. SBI Securities Co. Ltd. bought a new position in Nexstar Media Group during the fourth quarter worth $25,000. True Wealth Design LLC bought a new position in Nexstar Media Group during the third quarter worth $30,000. Wilmington Savings Fund Society FSB acquired a new position in Nexstar Media Group in the third quarter worth $33,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of Nexstar Media Group by 15.3% during the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company's stock worth $87,000 after purchasing an additional 73 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NXST has been the subject of a number of recent research reports. StockNews.com downgraded shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Guggenheim increased their price target on Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Barrington Research reissued an "outperform" rating and issued a $200.00 price target on shares of Nexstar Media Group in a report on Wednesday, March 5th. Loop Capital raised Nexstar Media Group from a "hold" rating to a "buy" rating and increased their target price for the stock from $190.00 to $200.00 in a research report on Friday, February 28th. Finally, Benchmark upped their price target on shares of 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 investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Nexstar Media Group currently has a consensus rating of "Moderate Buy" and an average price target of $208.43.

Remove Ads

Nexstar Media Group Stock Performance

NXST stock traded down $3.26 during trading on Thursday, reaching $179.49. 335,922 shares of the company's stock were exchanged, compared to its average volume of 344,372. The firm has a market cap of $5.48 billion, a PE ratio of 10.38, a P/E/G ratio of 0.45 and a beta of 1.47. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a 1-year low of $146.04 and a 1-year high of $191.86. The company's fifty day moving average price is $161.33 and its 200-day moving average price is $164.39.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported $7.56 earnings per share for the quarter, missing the consensus estimate of $9.22 by ($1.66). The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. On average, research analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date was Wednesday, February 12th. This is a positive change from Nexstar Media Group's previous quarterly dividend of $1.69. Nexstar Media Group's dividend payout ratio (DPR) is currently 34.56%.

Insider Buying and Selling

In related news, Director Charles Thomas Mcmillen sold 2,000 shares of Nexstar Media Group stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $169.51, for a total transaction of $339,020.00. Following the transaction, the director now directly owns 4,975 shares of the company's stock, valued at $843,312.25. The trade was a 28.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Perry A. Sook sold 32,096 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $170.67, for a total transaction of $5,477,824.32. Following the completion of the sale, the chief executive officer now owns 806,019 shares in the company, valued at approximately $137,563,262.73. This trade represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,105 shares of company stock valued at $6,722,463 over the last quarter. Corporate insiders own 6.30% of the company's stock.

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.