Proficio Capital Partners LLC Purchases New Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Proficio Capital Partners LLC purchased a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 225,107 shares of the company's stock, valued at approximately $35,560,000. Proficio Capital Partners LLC owned about 0.73% of Nexstar Media Group as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. grew its position in shares of Nexstar Media Group by 27,180.2% in the 4th quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company's stock valued at $190,650,000 after buying an additional 1,202,453 shares during the last quarter. Payden & Rygel boosted its holdings in Nexstar Media Group by 40.4% in the third quarter. Payden & Rygel now owns 110,200 shares of the company's stock valued at $18,222,000 after acquiring an additional 31,700 shares during the last quarter. World Investment Advisors LLC acquired a new stake in Nexstar Media Group during the 3rd quarter valued at approximately $3,747,000. SGL Investment Advisors Inc. bought a new position in Nexstar Media Group during the 3rd quarter worth approximately $3,758,000. Finally, Bank of New York Mellon Corp raised its holdings in Nexstar Media Group by 5.0% during the 4th quarter. Bank of New York Mellon Corp now owns 403,728 shares of the company's stock worth $63,777,000 after purchasing an additional 19,116 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Insider Buying and Selling

In related news, Director Charles Thomas Mcmillen sold 750 shares of the company's stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $159.93, for a total transaction of $119,947.50. Following the completion of the sale, the director now owns 6,975 shares in the company, valued at approximately $1,115,511.75. This represents a 9.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Perry A. Sook sold 52,808 shares of the firm's stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $157.41, for a total value of $8,312,507.28. Following the transaction, the chief executive officer now owns 674,694 shares in the company, valued at approximately $106,203,582.54. This trade represents a 7.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,493 shares of company stock worth $20,354,366 in the last quarter. Insiders own 6.30% of the company's stock.

Remove Ads

Nexstar Media Group Stock Down 0.8 %

NASDAQ:NXST traded down $1.31 on Tuesday, hitting $171.65. The stock had a trading volume of 377,455 shares, compared to its average volume of 351,288. 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 52 week low of $146.04 and a 52 week high of $191.86. The business's fifty day moving average is $155.59 and its 200 day moving average is $163.55. The company has a market cap of $5.32 billion, a PE ratio of 9.91, a P/E/G ratio of 0.45 and a beta of 1.45.

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 firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. On average, equities research analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The firm also recently announced 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 is an increase from Nexstar Media Group's previous quarterly dividend of $1.69. This represents a $7.44 annualized dividend and a dividend yield of 4.33%. Nexstar Media Group's payout ratio is presently 34.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. StockNews.com lowered shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research note on Monday. Benchmark upped their price target 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. Barrington Research reissued an "outperform" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, February 27th. Loop Capital upgraded 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. Finally, Guggenheim raised their target price on Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Friday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Nexstar Media Group has an average rating of "Moderate Buy" and an average price target of $210.29.

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.