SG Americas Securities LLC Grows Stock Holdings in Nexstar Media Group, Inc. $NXST

Key Points

• SG Americas Securities LLC sharply increased its Nexstar Media Group stake by 1,272% in the first quarter, ending with 51,367 shares worth about $9.3 million.
• Institutional ownership remains very high, with hedge funds and other institutional investors holding 95.3% of Nexstar’s stock. The article also notes several smaller firms initiated or added positions recently.
• Nexstar’s shares and dividends show mixed signals: the stock was trading at $164.00, near its 12-month low, while paying a $1.86 quarterly dividend for a 4.5% annual yield. Analysts currently rate the stock a consensus Buy with a $259.67 target price.

SG Americas Securities LLC increased its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 1,272.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 51,367 shares of the company's stock after buying an additional 47,623 shares during the period. SG Americas Securities LLC owned about 0.17% of Nexstar Media Group worth $9,289,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Torren Management LLC purchased a new position in shares of Nexstar Media Group in the fourth quarter valued at about $28,000. Measured Wealth Private Client Group LLC bought a new position in shares of Nexstar Media Group in the third quarter worth about $28,000. WPG Advisers LLC grew its position in shares of Nexstar Media Group by 65.7% during the fourth quarter. WPG Advisers LLC now owns 179 shares of the company's stock worth $36,000 after purchasing an additional 71 shares in the last quarter. State of Wyoming purchased a new stake in shares of Nexstar Media Group during the second quarter worth about $54,000. Finally, Danske Bank A S bought a new stake in Nexstar Media Group during the 3rd quarter valued at approximately $59,000. Hedge funds and other institutional investors own 95.30% of the company's stock.

Nexstar Media Group Price Performance

Shares of Nexstar Media Group stock opened at $164.00 on Friday. The firm has a market cap of $5.01 billion, a PE ratio of 35.19, a PEG ratio of 0.41 and a beta of 0.91. The stock has a 50 day moving average of $187.12 and a 200 day moving average of $205.44. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53. Nexstar Media Group, Inc. has a 12 month low of $154.47 and a 12 month high of $254.30.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 4.5%. The ex-dividend date was Friday, May 15th. Nexstar Media Group's payout ratio is currently 159.66%.

Insider Buying and Selling

In related news, insider Brett Jenkins sold 301 shares of the company's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $170.81, for a total transaction of $51,413.81. Following the sale, the insider owned 28,798 shares of the company's stock, valued at $4,918,986.38. This represents a 1.03% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Gary Weitman sold 261 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $170.81, for a total transaction of $44,581.41. Following the transaction, the insider owned 6,963 shares of the company's stock, valued at $1,189,350.03. This trade represents a 3.61% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 22,813 shares of company stock valued at $4,174,731 in the last three months. Corporate insiders own 7.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NXST shares. Zacks Research upgraded Nexstar Media Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 13th. Citigroup upgraded shares of Nexstar Media Group from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $252.00 to $220.00 in a research report on Friday, April 10th. Barrington Research reissued an "outperform" rating and issued a $290.00 target price on shares of Nexstar Media Group in a report on Tuesday, April 28th. Weiss Ratings restated a "hold (c)" rating on shares of Nexstar Media Group in a research report on Wednesday, May 27th. Finally, Wall Street Zen raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $259.67.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.

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