Stifel Financial Corp Buys 17,535 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Stifel Financial Corp increased its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 136.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,355 shares of the company's stock after acquiring an additional 17,535 shares during the period. Stifel Financial Corp owned about 0.10% of Nexstar Media Group worth $5,019,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Brooklyn Investment Group purchased a new position in Nexstar Media Group in the third quarter valued at approximately $25,000. Whittier Trust Co. purchased a new stake in Nexstar Media Group in the second quarter worth about $27,000. True Wealth Design LLC bought a new stake in Nexstar Media Group in the 3rd quarter worth approximately $30,000. Allspring Global Investments Holdings LLC boosted its position in shares of Nexstar Media Group by 3,700.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company's stock valued at $44,000 after buying an additional 259 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in Nexstar Media Group during the third quarter valued at approximately $44,000. Institutional investors own 95.30% of the company's stock.

Nexstar Media Group Stock Down 0.2 %

NASDAQ NXST traded down $0.40 on Friday, hitting $164.60. 455,016 shares of the company were exchanged, compared to its average volume of 327,648. Nexstar Media Group, Inc. has a 12 month low of $147.25 and a 12 month high of $191.86. 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 stock has a fifty day moving average of $170.11 and a 200-day moving average of $167.39. The company has a market cap of $5.11 billion, a PE ratio of 9.52, a PEG ratio of 0.20 and a beta of 1.45.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.51 by ($0.24). The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business's revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.70 earnings per share. As a group, analysts forecast that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $1.69 dividend. The ex-dividend date was Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.11%. Nexstar Media Group's dividend payout ratio is presently 39.10%.

Analysts Set New Price Targets

NXST has been the topic of several research analyst reports. Benchmark reiterated a "buy" rating and issued a $215.00 price objective on shares of Nexstar Media Group in a report on Friday, November 8th. StockNews.com raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating in a research note on Friday, November 8th. Barrington Research restated an "outperform" rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, November 7th. Loop Capital cut shares of Nexstar Media Group from a "buy" rating to a "hold" rating and decreased their price objective for the company from $200.00 to $190.00 in a research report on Friday, November 8th. Finally, Guggenheim reduced their price target on shares of Nexstar Media Group from $200.00 to $198.00 and set a "buy" rating for the company in a report on Friday, October 4th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $204.29.

Insider Buying and Selling at Nexstar Media Group

In other news, Director D Geoffrey Armstrong sold 2,000 shares of the company's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $166.38, for a total transaction of $332,760.00. Following the transaction, the director now owns 7,250 shares in the company, valued at $1,206,255. This represents a 21.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Andrew Alford sold 3,175 shares of the business's stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $167.82, for a total transaction of $532,828.50. Following the completion of the transaction, the insider now owns 9,173 shares of the company's stock, valued at approximately $1,539,412.86. This represents a 25.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,798 shares of company stock worth $7,989,464. 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.