SG Americas Securities LLC Makes New Investment in Nexstar Media Group, Inc. (NASDAQ:NXST)

SG Americas Securities LLC bought a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 98,056 shares of the company's stock, valued at approximately $17,574,000. SG Americas Securities LLC owned 0.32% of Nexstar Media Group as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Harbor Capital Advisors Inc. raised its holdings in shares of Nexstar Media Group by 2.8% during the 1st quarter. Harbor Capital Advisors Inc. now owns 10,412 shares of the company's stock worth $1,866,000 after buying an additional 285 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Nexstar Media Group by 68.6% during the 1st quarter. UMB Bank n.a. now owns 536 shares of the company's stock worth $96,000 after buying an additional 218 shares in the last quarter. Impact Capital Partners LLC acquired a new position in shares of Nexstar Media Group during the 1st quarter worth $502,000. Davis Capital Management raised its holdings in shares of Nexstar Media Group by 7.1% during the 1st quarter. Davis Capital Management now owns 6,714 shares of the company's stock worth $1,203,000 after buying an additional 444 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in shares of Nexstar Media Group by 13.7% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 2,862 shares of the company's stock worth $513,000 after buying an additional 344 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Nexstar Media Group Trading Down 1.9%

Shares of NASDAQ NXST traded down $3.21 during trading on Thursday, reaching $169.17. The company had a trading volume of 165,019 shares, compared to its average volume of 387,231. The company's fifty day moving average price is $161.48 and its 200-day moving average price is $162.17. Nexstar Media Group, Inc. has a 12 month low of $141.66 and a 12 month high of $191.86. The stock has a market cap of $5.16 billion, a P/E ratio of 9.78, a PEG ratio of 0.45 and a beta of 1.05. 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 (NASDAQ:NXST - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $3.37 EPS for the quarter, beating analysts' consensus estimates of $3.26 by $0.11. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the company posted $5.16 EPS. The business's revenue was down 3.9% on a year-over-year basis. As a group, research analysts expect that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $1.86 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $7.44 annualized dividend and a dividend yield of 4.40%. Nexstar Media Group's payout ratio is 37.69%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NXST shares. Barrington Research reaffirmed an "outperform" rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Tuesday, May 13th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Monday, March 10th. Benchmark lowered their target price on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Guggenheim upped their target price on Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, Wall Street Zen cut Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Nexstar Media Group has an average rating of "Moderate Buy" and a consensus price target of $205.71.

Insider Activity at Nexstar Media Group

In other news, insider Gary Weitman sold 424 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $175.53, for a total value of $74,424.72. Following the completion of the sale, the insider now directly owns 5,301 shares of the company's stock, valued at $930,484.53. This represents a 7.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Andrew Alford sold 3,768 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total value of $685,700.64. Following the sale, the insider now directly owns 5,405 shares of the company's stock, valued at $983,601.90. The trade was a 41.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,033 shares of company stock worth $3,491,901 in the last 90 days. Corporate insiders own 6.70% of the company's stock.

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.