Jefferies Financial Group Inc. Invests $2.09 Million in Nexstar Media Group, Inc. (NASDAQ:NXST)

Jefferies Financial Group Inc. bought a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,205 shares of the company's stock, valued at approximately $2,086,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Integrated Advisors Network LLC grew its stake in Nexstar Media Group by 9.6% during the 4th quarter. Integrated Advisors Network LLC now owns 1,461 shares of the company's stock valued at $231,000 after acquiring an additional 128 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Nexstar Media Group by 12.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,172 shares of the company's stock valued at $18,352,000 after acquiring an additional 12,695 shares during the period. Voloridge Investment Management LLC acquired a new stake in shares of Nexstar Media Group during the fourth quarter worth $7,075,000. Tidal Investments LLC lifted its holdings in Nexstar Media Group by 23.3% in the fourth quarter. Tidal Investments LLC now owns 3,966 shares of the company's stock valued at $627,000 after acquiring an additional 749 shares during the period. Finally, Teza Capital Management LLC raised its position in Nexstar Media Group by 23.4% during the fourth quarter. Teza Capital Management LLC now owns 6,118 shares of the company's stock worth $966,000 after acquiring an additional 1,161 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

Insider Transactions at Nexstar Media Group

In other Nexstar Media Group news, EVP Blake Russell sold 362 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $173.59, for a total value of $62,839.58. Following the completion of the transaction, the executive vice president now directly owns 23,033 shares in the company, valued at $3,998,298.47. This trade represents a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Perry A. Sook sold 32,096 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $170.67, for a total transaction of $5,477,824.32. Following the completion of the transaction, the chief executive officer now directly owns 806,019 shares of the company's stock, valued at $137,563,262.73. This represents a 3.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,288 shares of company stock valued at $8,845,948 in the last ninety days. 6.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NXST. Rosenblatt Securities reaffirmed a "buy" rating and issued a $200.00 target price on shares of Nexstar Media Group in a research report on Monday, March 10th. Wall Street Zen lowered shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Benchmark lowered their target price on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Guggenheim increased their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Finally, Wells Fargo & Company cut their target price on Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating for the company in a research 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 company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $205.71.

Nexstar Media Group Trading Down 0.3%

Shares of Nexstar Media Group stock traded down $0.58 during trading hours on Friday, hitting $169.98. The company's stock had a trading volume of 333,983 shares, compared to its average volume of 391,044. The stock has a 50 day moving average of $162.10 and a 200 day moving average of $161.96. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. Nexstar Media Group, Inc. has a 12 month low of $141.66 and a 12 month high of $191.86. The company has a market capitalization of $5.19 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 0.45 and a beta of 1.06.

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. The firm had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.23 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company's revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.16 EPS. Analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a dividend of $1.86 per share. The ex-dividend date is Monday, May 19th. This represents a $7.44 annualized dividend and a dividend yield of 4.38%. Nexstar Media Group's dividend payout ratio is currently 37.69%.

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.