Demars Financial Group LLC Raises Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Demars Financial Group LLC boosted its stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 13.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 879,253 shares of the company's stock after acquiring an additional 105,516 shares during the period. Nexstar Media Group accounts for 0.5% of Demars Financial Group LLC's investment portfolio, making the stock its 24th largest holding. Demars Financial Group LLC owned about 2.88% of Nexstar Media Group worth $157,580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NXST. State of New Jersey Common Pension Fund D boosted its holdings in shares of Nexstar Media Group by 7.0% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 12,837 shares of the company's stock worth $2,028,000 after buying an additional 840 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Nexstar Media Group in the fourth quarter valued at $809,000. Venturi Wealth Management LLC raised its holdings in shares of Nexstar Media Group by 31.0% during the fourth quarter. Venturi Wealth Management LLC now owns 883 shares of the company's stock valued at $139,000 after purchasing an additional 209 shares during the period. Ieq Capital LLC boosted its position in shares of Nexstar Media Group by 63.5% during the 4th quarter. Ieq Capital LLC now owns 2,887 shares of the company's stock worth $456,000 after purchasing an additional 1,121 shares in the last quarter. Finally, Concurrent Investment Advisors LLC acquired a new stake in shares of Nexstar Media Group in the 4th quarter valued at about $209,000. Institutional investors and hedge funds own 95.30% of the company's stock.

Insider Transactions at Nexstar Media Group

In other news, insider Gary Weitman sold 510 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $165.25, for a total transaction of $84,277.50. Following the completion of the transaction, the insider now owns 8,229 shares of the company's stock, valued at approximately $1,359,842.25. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Blake Russell sold 326 shares of Nexstar Media Group stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $167.25, for a total transaction of $54,523.50. Following the sale, the executive vice president now owns 24,019 shares of the company's stock, valued at approximately $4,017,177.75. The trade was a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,242 shares of company stock valued at $4,352,688. 6.70% of the stock is currently owned by company insiders.

Nexstar Media Group Stock Performance

Nexstar Media Group stock traded up $5.20 during mid-day trading on Friday, reaching $171.79. 585,722 shares of the company's stock were exchanged, compared to its average volume of 385,944. The firm has a market capitalization of $5.24 billion, a PE ratio of 8.70, a P/E/G ratio of 1.22 and a beta of 1.05. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 2.86. The business's fifty day simple moving average is $162.82 and its 200 day simple moving average is $162.02. Nexstar Media Group, Inc. has a one year low of $141.66 and a one year high of $191.86.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.26 by $0.11. Nexstar Media Group had a return on equity of 29.21% and a net margin of 12.21%. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the business posted $5.16 earnings per share. The business's revenue for the quarter was down 3.9% on a year-over-year basis. On average, sell-side analysts expect that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend was Monday, May 19th. Nexstar Media Group's payout ratio is 37.69%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NXST shares. Loop Capital upgraded Nexstar Media Group from a "hold" rating to a "buy" rating and boosted their price objective for the company from $190.00 to $200.00 in a report on Friday, February 28th. Wall Street Zen downgraded shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Guggenheim boosted their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Benchmark lowered their price objective on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company decreased their price target on Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $205.71.

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.