Navellier & Associates Inc. Has $3.01 Million Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Navellier & Associates Inc. boosted its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 4.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,063 shares of the company’s stock after buying an additional 727 shares during the quarter. Navellier & Associates Inc. owned approximately 0.06% of Nexstar Media Group worth $3,011,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of NXST. BNP Paribas Financial Markets boosted its stake in Nexstar Media Group by 67.8% in the third quarter. BNP Paribas Financial Markets now owns 26,239 shares of the company’s stock worth $4,339,000 after purchasing an additional 10,603 shares in the last quarter. SGL Investment Advisors Inc. acquired a new position in Nexstar Media Group in the third quarter worth $3,758,000. Charles Schwab Investment Management Inc. boosted its stake in Nexstar Media Group by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company’s stock worth $179,149,000 after purchasing an additional 7,117 shares in the last quarter. Quest Partners LLC boosted its stake in Nexstar Media Group by 661.4% in the third quarter. Quest Partners LLC now owns 8,672 shares of the company’s stock worth $1,434,000 after purchasing an additional 7,533 shares in the last quarter. Finally, Holocene Advisors LP boosted its stake in Nexstar Media Group by 680.9% in the third quarter. Holocene Advisors LP now owns 17,219 shares of the company’s stock worth $2,847,000 after purchasing an additional 15,014 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Insider Activity at Nexstar Media Group

In related news, CEO Perry A. Sook sold 52,808 shares of the company’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 sale, the chief executive officer now owns 674,694 shares in the company, valued at approximately $106,203,582.54. This represents a 7.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lisbeth Mcnabb sold 875 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $172.00, for a total value of $150,500.00. Following the completion of the sale, the director now owns 5,752 shares of the company’s stock, valued at $989,344. This represents a 13.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 131,824 shares of company stock worth $21,093,408. 6.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NXST shares. Loop Capital lowered Nexstar Media Group from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $200.00 to $190.00 in a research note on Friday, November 8th. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Guggenheim reaffirmed a “buy” rating on shares of Nexstar Media Group in a research note on Wednesday, January 22nd. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, November 7th. Finally, Benchmark reaffirmed a “buy” rating and set a $215.00 price target on shares of Nexstar Media Group in a research note on Friday, November 8th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $204.29.

Nexstar Media Group Trading Down 3.2 %

Shares of NXST opened at $149.56 on Friday. The stock’s fifty day simple moving average is $155.72 and its 200-day simple moving average is $163.69. The firm has a market capitalization of $4.64 billion, a PE ratio of 8.65, a price-to-earnings-growth ratio of 0.45 and a beta of 1.45. 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 12-month low of $147.25 and a 12-month high of $191.86.

Nexstar Media Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date of this dividend is Wednesday, February 12th. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s dividend payout ratio is currently 43.03%.

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.