Sequoia Financial Advisors LLC Acquires 339 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Sequoia Financial Advisors LLC increased its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 8.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,173 shares of the company’s stock after acquiring an additional 339 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Nexstar Media Group were worth $659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Brooklyn Investment Group bought a new position in shares of Nexstar Media Group during the third quarter valued at approximately $25,000. SBI Securities Co. Ltd. bought a new position in Nexstar Media Group during the 4th quarter valued at approximately $25,000. True Wealth Design LLC purchased a new position in Nexstar Media Group during the third quarter valued at $30,000. Wilmington Savings Fund Society FSB bought a new stake in Nexstar Media Group in the third quarter worth $33,000. Finally, Jones Financial Companies Lllp grew its stake 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 worth $87,000 after acquiring an additional 73 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, CFO Lee Ann Gliha sold 330 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $158.23, for a total value of $52,215.90. Following the completion of the sale, the chief financial officer now owns 8,610 shares in the company, valued at $1,362,360.30. This represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Perry A. Sook sold 52,808 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $157.41, for a total value of $8,312,507.28. Following the completion of the transaction, the chief executive officer now directly owns 674,694 shares in the company, valued at $106,203,582.54. This trade represents a 7.26 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 126,250 shares of company stock worth $20,450,616. 6.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Loop Capital raised Nexstar Media Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $190.00 to $200.00 in a research report on Friday, February 28th. Barrington Research reiterated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Guggenheim boosted their price objective on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Monday, March 10th. Finally, Benchmark boosted their price target on Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $208.43.

Nexstar Media Group Price Performance

Shares of NXST opened at $174.01 on Tuesday. The firm has a fifty day simple moving average of $158.03 and a two-hundred day simple moving average of $163.79. The firm has a market cap of $5.31 billion, a PE ratio of 10.06, a P/E/G 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. Nexstar Media Group, Inc. has a 1-year low of $146.04 and a 1-year high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data 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%. On average, equities analysts anticipate that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a $1.86 dividend. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date was Wednesday, February 12th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.28%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 34.56%.

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.