Jump Financial LLC Buys New Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Jump Financial LLC purchased a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 10,060 shares of the company's stock, valued at approximately $1,589,000.

Several other hedge funds and other institutional investors have also bought and sold shares of NXST. SBI Securities Co. Ltd. purchased a new stake in Nexstar Media Group during the fourth quarter valued at about $25,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Nexstar Media Group during the 3rd quarter valued at about $33,000. Jones Financial Companies Lllp lifted its stake in Nexstar Media Group by 15.3% in 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 last quarter. Steward Partners Investment Advisory LLC grew its position in 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 last quarter. Finally, Venturi Wealth Management LLC increased its stake in shares of Nexstar Media Group by 31.0% in the fourth 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. Hedge funds and other institutional investors own 95.30% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on NXST. StockNews.com lowered Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Barrington Research reiterated an "outperform" rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Wednesday, March 5th. Rosenblatt Securities reiterated a "buy" rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Monday, March 10th. Benchmark increased their target price on Nexstar Media Group from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Finally, Loop Capital raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating and raised their price target for the company from $190.00 to $200.00 in a report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $208.43.

Nexstar Media Group Stock Performance

NASDAQ:NXST traded up $0.97 on Friday, hitting $151.93. The stock had a trading volume of 60,251 shares, compared to its average volume of 371,991. Nexstar Media Group, Inc. has a 52-week low of $143.32 and a 52-week high of $191.86. The stock has a market cap of $4.64 billion, a price-to-earnings ratio of 8.80, a price-to-earnings-growth ratio of 0.45 and a beta of 1.09. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The business's 50-day simple moving average is $163.24 and its two-hundred day simple moving average is $163.29.

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 (EPS) for the quarter, missing analysts' consensus estimates of $9.22 by ($1.66). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The business had revenue of $1.49 billion during the quarter, compared to analysts' expectations of $1.48 billion. As a group, research analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 4.90%. This is a positive change from Nexstar Media Group's previous quarterly dividend of $1.69. The ex-dividend date was Wednesday, February 12th. Nexstar Media Group's dividend payout ratio is 34.56%.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, insider Andrew Alford sold 3,768 shares of Nexstar Media Group stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total transaction of $685,700.64. Following the transaction, the insider now owns 5,405 shares of the company's stock, valued at $983,601.90. The trade was a 41.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Perry A. Sook sold 32,096 shares of the stock in a transaction on 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 directly owns 806,019 shares of the company's stock, 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. 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 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.