Proficio Capital Partners LLC Takes Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Proficio Capital Partners LLC purchased a new position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,425 shares of the company's stock, valued at approximately $225,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in NXST. Wealth Enhancement Advisory Services LLC raised its position in Nexstar Media Group by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company's stock worth $1,073,000 after purchasing an additional 68 shares during the period. Jones Financial Companies Lllp grew its stake 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 valued at $87,000 after buying an additional 73 shares during the last quarter. Davis Capital Management increased its holdings in shares of Nexstar Media Group by 2.0% in the fourth quarter. Davis Capital Management now owns 6,270 shares of the company's stock worth $990,000 after buying an additional 122 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Nexstar Media Group by 5.8% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 2,518 shares of the company's stock worth $398,000 after buying an additional 137 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its holdings in Nexstar Media Group by 1.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 10,127 shares of the company's stock valued at $1,600,000 after acquiring an additional 140 shares during the period. Hedge funds and other institutional investors own 95.30% of the company's stock.

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Analysts Set New Price Targets

NXST has been the topic of a number of analyst reports. Barrington Research reaffirmed an "outperform" rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Guggenheim upped their price target on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a "buy" rating in a report on Friday, February 28th. StockNews.com cut shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Rosenblatt Securities restated a "buy" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Monday, March 10th. Finally, Loop Capital upgraded shares of 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 report on Friday, February 28th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $208.43.

Nexstar Media Group Stock Up 1.6 %

Nexstar Media Group stock traded up $2.77 on Monday, hitting $179.22. 373,895 shares of the stock traded hands, compared to its average volume of 351,744. Nexstar Media Group, Inc. has a 1 year low of $146.04 and a 1 year high of $191.86. The firm has a market cap of $5.47 billion, a P/E ratio of 10.37, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. The business's fifty day simple moving average is $162.89 and its 200 day simple moving average is $164.76.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported $7.56 EPS for the quarter, missing analysts' consensus estimates of $9.22 by ($1.66). The firm had revenue of $1.49 billion for the quarter, compared to analysts' expectations 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, sell-side analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a $1.86 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.44 annualized dividend and a dividend yield of 4.15%. This is a boost from Nexstar Media Group's previous quarterly dividend of $1.69. Nexstar Media Group's payout ratio is currently 34.56%.

Insider Activity

In other Nexstar Media Group news, insider Gary Weitman sold 1,241 shares of Nexstar Media Group stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $177.21, for a total value of $219,917.61. Following the completion of the sale, the insider now owns 3,975 shares of the company's stock, valued at approximately $704,409.75. The trade was a 23.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Perry A. Sook sold 32,096 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $170.67, for a total transaction of $5,477,824.32. Following the sale, the chief executive officer now owns 806,019 shares of the company's stock, valued at approximately $137,563,262.73. This 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 ninety days. 6.30% of the stock is currently owned by corporate insiders.

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.