Jefferies Financial Group Inc. Acquires New Shares in Nexstar Media Group, Inc. (NASDAQ:NXST)

Jefferies Financial Group Inc. purchased a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 13,205 shares of the company's stock, valued at approximately $2,086,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in NXST. Gotham Asset Management LLC grew its stake in shares of Nexstar Media Group by 1.2% in the fourth quarter. Gotham Asset Management LLC now owns 49,915 shares of the company's stock valued at $7,885,000 after buying an additional 608 shares in the last quarter. Focus Partners Wealth grew its position in shares of Nexstar Media Group by 7.3% in the 4th quarter. Focus Partners Wealth now owns 1,726 shares of the company's stock valued at $273,000 after acquiring an additional 117 shares during the period. FORA Capital LLC increased its stake in shares of Nexstar Media Group by 119.9% during the 4th quarter. FORA Capital LLC now owns 9,474 shares of the company's stock worth $1,497,000 after purchasing an additional 5,166 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Nexstar Media Group by 7.9% during the 4th quarter. Deutsche Bank AG now owns 3,451 shares of the company's stock worth $545,000 after purchasing an additional 252 shares during the last quarter. Finally, Collar Capital Management LLC bought a new stake in shares of Nexstar Media Group in the 4th quarter valued at about $255,000. Institutional investors own 95.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. StockNews.com cut Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Guggenheim boosted 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. Barrington Research restated an "outperform" rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Tuesday, May 13th. Loop Capital raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $190.00 to $200.00 in a research report on Friday, February 28th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Monday, March 10th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $205.71.

Insider Buying and Selling

In other Nexstar Media Group news, CEO Perry A. Sook sold 32,096 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 806,019 shares in the company, valued at $137,563,262.73. This represents a 3.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Andrew Alford sold 3,768 shares of the company's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.98, for a total transaction of $685,700.64. Following the sale, the insider now directly owns 5,405 shares of the company's stock, valued at approximately $983,601.90. This trade represents a 41.08% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,105 shares of company stock worth $6,722,463. Company insiders own 6.70% of the company's stock.

Nexstar Media Group Stock Performance

Shares of NASDAQ:NXST traded down $1.06 on Monday, reaching $173.62. 41,949 shares of the company's stock were exchanged, compared to its average volume of 390,760. Nexstar Media Group, Inc. has a twelve month low of $141.66 and a twelve month high of $191.86. The company has a fifty day moving average of $162.60 and a 200-day moving average of $162.03. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of 10.02, a PEG ratio of 0.45 and a beta of 1.06. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its quarterly 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 business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The firm's quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.16 earnings per share. On average, research analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date is Monday, May 19th. Nexstar Media Group's payout ratio is currently 37.69%.

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.