Barclays PLC Acquires 2,628 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Barclays PLC grew its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 5.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,679 shares of the company's stock after purchasing an additional 2,628 shares during the period. Barclays PLC owned approximately 0.15% of Nexstar Media Group worth $7,532,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in Nexstar Media Group in the fourth quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Nexstar Media Group during the third quarter worth approximately $33,000. Jones Financial Companies Lllp raised its position in shares of Nexstar Media Group by 15.3% in the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company's stock valued at $87,000 after buying an additional 73 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in Nexstar Media Group by 99.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 786 shares of the company's stock worth $124,000 after buying an additional 392 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings 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 acquiring an additional 209 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Barrington Research reiterated an "outperform" rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Wednesday, March 5th. Rosenblatt Securities reiterated a "buy" rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Monday, March 10th. Benchmark increased their price objective 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. Loop Capital raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating and raised their price objective for the stock from $190.00 to $200.00 in a report on Friday, February 28th. Finally, Guggenheim raised their price target on Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, Nexstar Media Group presently has a consensus rating of "Moderate Buy" and an average price target of $208.43.

Nexstar Media Group Stock Up 0.8 %

Shares of NASDAQ NXST traded up $1.16 on Friday, hitting $152.12. The company had a trading volume of 220,615 shares, compared to its average volume of 373,868. The firm has a market capitalization of $4.64 billion, a P/E ratio of 8.80, a PEG ratio of 0.45 and a beta of 1.09. The business has a 50 day moving average of $163.19 and a two-hundred day moving average of $163.19. Nexstar Media Group, Inc. has a 12-month low of $143.32 and a 12-month high of $191.86. 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 (NASDAQ:NXST - Get Free Report) last issued its 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). The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. As a group, equities research analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a dividend of $1.86 per share. The ex-dividend date was Wednesday, February 12th. This represents a $7.44 annualized dividend and a dividend yield of 4.89%. This is a positive change from Nexstar Media Group's previous quarterly dividend of $1.69. Nexstar Media Group's dividend payout ratio is currently 34.56%.

Insiders Place Their Bets

In other news, Director Charles Thomas Mcmillen sold 2,000 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $169.51, for a total transaction of $339,020.00. Following the completion of the sale, the director now directly owns 4,975 shares of the company's stock, valued at $843,312.25. This represents a 28.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Andrew Alford sold 3,768 shares of Nexstar Media Group stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total value of $685,700.64. Following the transaction, the insider now owns 5,405 shares in the company, valued at $983,601.90. This represents a 41.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,105 shares of company stock worth $6,722,463. Insiders own 6.30% of the company's stock.

About Nexstar Media Group

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.