53,189 Shares in Nexstar Media Group, Inc. (NASDAQ:NXST) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 53,189 shares of the company's stock, valued at approximately $8,402,000. Raymond James Financial Inc. owned approximately 0.17% of Nexstar Media Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NXST. SBI Securities Co. Ltd. acquired a new position in shares of Nexstar Media Group during the fourth quarter worth about $25,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Nexstar Media Group during the third quarter worth about $33,000. Jones Financial Companies Lllp boosted its position in shares of Nexstar Media Group by 15.3% during the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company's stock worth $87,000 after buying an additional 73 shares during the period. Steward Partners Investment Advisory LLC boosted its position in shares of Nexstar Media Group by 99.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 786 shares of the company's stock worth $124,000 after buying an additional 392 shares during the period. Finally, Venturi Wealth Management LLC boosted its position 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 worth $139,000 after buying an additional 209 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Nexstar Media Group Stock Performance

Nexstar Media Group stock traded up $0.25 during mid-day trading on Monday, hitting $152.37. 430,220 shares of the company's stock traded hands, compared to its average volume of 374,093. The firm has a 50 day simple moving average of $163.15 and a two-hundred day simple moving average of $163.05. Nexstar Media Group, Inc. has a fifty-two week low of $143.32 and a fifty-two week high of $191.86. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 8.81, a P/E/G ratio of 0.45 and a beta of 1.09. 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 (NASDAQ:NXST - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.22 by ($1.66). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.48 billion. On average, research analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given a dividend of $1.86 per share. This is a boost from Nexstar Media Group's previous quarterly dividend of $1.69. The ex-dividend date was Wednesday, February 12th. This represents a $7.44 annualized dividend and a yield of 4.88%. Nexstar Media Group's dividend payout ratio (DPR) is presently 34.56%.

Insiders Place Their Bets

In other Nexstar Media Group news, CEO Perry A. Sook sold 32,096 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $170.67, for a total transaction of $5,477,824.32. Following the transaction, the chief executive officer now owns 806,019 shares in the company, valued at $137,563,262.73. This trade represents a 3.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gary Weitman sold 1,241 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $177.21, for a total value of $219,917.61. Following the completion of the transaction, the insider now owns 3,975 shares in the company, valued at $704,409.75. The trade was a 23.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,105 shares of company stock worth $6,722,463 in the last 90 days. Company insiders own 6.30% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on NXST shares. StockNews.com cut Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Guggenheim increased their price target 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. Rosenblatt Securities reissued a "buy" rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Monday, March 10th. Barrington Research reissued an "outperform" rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Wednesday, March 5th. Finally, Benchmark increased their price target on Nexstar Media Group from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, February 28th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $208.43.

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.