Demars Financial Group LLC Raises Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Demars Financial Group LLC raised its stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 16,009.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 773,737 shares of the company's stock after buying an additional 768,934 shares during the period. Demars Financial Group LLC owned approximately 2.49% of Nexstar Media Group worth $122,227,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in Nexstar Media Group in the fourth quarter valued at about $25,000. Wilmington Savings Fund Society FSB bought a new position in shares of Nexstar Media Group during the 3rd quarter worth about $33,000. Jones Financial Companies Lllp grew its holdings in shares of Nexstar Media Group by 15.3% during the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company's stock worth $87,000 after purchasing an additional 73 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Nexstar Media Group by 99.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 786 shares of the company's stock worth $124,000 after acquiring an additional 392 shares during the period. Finally, Venturi Wealth Management LLC lifted its position in shares of Nexstar Media Group by 31.0% during the 4th quarter. Venturi Wealth Management LLC now owns 883 shares of the company's stock worth $139,000 after buying an additional 209 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

Nexstar Media Group Trading Up 1.6 %

NASDAQ:NXST traded up $2.37 during midday trading on Tuesday, reaching $148.79. 79,503 shares of the stock traded hands, compared to its average volume of 370,877. Nexstar Media Group, Inc. has a 12 month low of $143.24 and a 12 month high of $191.86. The stock has a market capitalization of $4.54 billion, a P/E ratio of 8.60, a PEG ratio of 0.45 and a beta of 1.09. The company has a fifty day moving average of $163.35 and a 200 day moving average of $163.56. 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 (NASDAQ:NXST - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $9.22 by ($1.66). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.48 billion. On average, research analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a dividend of $1.86 per share. This is a positive change from Nexstar Media Group's previous quarterly dividend of $1.69. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 5.00%. Nexstar Media Group's dividend payout ratio is currently 34.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NXST shares. Guggenheim lifted their target price on Nexstar Media Group from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Monday, March 10th. Loop Capital raised Nexstar Media Group from a "hold" rating to a "buy" rating and upped their target price for the company from $190.00 to $200.00 in a research report on Friday, February 28th. StockNews.com cut shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Finally, Benchmark boosted their target price on shares of Nexstar Media Group from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, February 28th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $208.43.

Insider Buying and Selling

In other Nexstar Media Group news, insider Andrew Alford sold 3,768 shares of Nexstar Media Group stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.98, for a total transaction of $685,700.64. Following the completion of the sale, the insider now directly owns 5,405 shares of the company's stock, valued at $983,601.90. The trade was a 41.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gary Weitman sold 1,241 shares of Nexstar Media Group stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $177.21, for a total transaction of $219,917.61. Following the completion of the transaction, the insider now directly owns 3,975 shares in the company, valued at approximately $704,409.75. The trade was a 23.79 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,105 shares of company stock worth $6,722,463. 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.