Sherbrooke Park Advisers LLC Purchases 2,872 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Sherbrooke Park Advisers LLC grew its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 115.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,349 shares of the company's stock after buying an additional 2,872 shares during the quarter. Sherbrooke Park Advisers LLC's holdings in Nexstar Media Group were worth $845,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in shares of Nexstar Media Group in the fourth quarter valued at about $25,000. Jones Financial Companies Lllp grew its position in Nexstar Media Group by 15.3% in the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company's stock valued at $87,000 after acquiring an additional 73 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in 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 acquiring an additional 392 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Nexstar Media Group by 31.0% in the fourth quarter. Venturi Wealth Management LLC now owns 883 shares of the company's stock worth $139,000 after acquiring an additional 209 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Nexstar Media Group by 49.7% in the fourth quarter. Covestor Ltd now owns 949 shares of the company's stock worth $150,000 after acquiring an additional 315 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NXST has been the subject of a number of research analyst reports. StockNews.com cut shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Loop Capital upgraded shares of Nexstar Media Group from a "hold" rating to a "buy" rating and upped their price target for the stock from $190.00 to $200.00 in a report on Friday, February 28th. Rosenblatt Securities reissued a "buy" rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Monday, March 10th. 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. Finally, Guggenheim increased their target price 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. One 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, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $205.71.

Insider Buying and Selling

In related news, Director Charles Thomas Mcmillen sold 2,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $169.51, for a total value of $339,020.00. Following the sale, the director now owns 4,975 shares in the company, valued at $843,312.25. This represents a 28.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sean Compton sold 1,088 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $175.53, for a total transaction of $190,976.64. Following the completion of the transaction, the insider now directly owns 12,096 shares in the company, valued at approximately $2,123,210.88. The trade was a 8.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,558 shares of company stock valued at $7,504,098 over the last 90 days. Company insiders own 6.70% of the company's stock.

Nexstar Media Group Trading Down 2.5%

Shares of NXST stock traded down $4.46 on Wednesday, hitting $171.28. The company had a trading volume of 111,704 shares, compared to its average volume of 390,822. The stock's 50-day moving average is $162.85 and its two-hundred day moving average is $162.11. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The firm has a market cap of $5.23 billion, a P/E ratio of 9.91, a P/E/G ratio of 0.45 and a beta of 1.06. Nexstar Media Group, Inc. has a twelve month low of $141.66 and a twelve month high of $191.86.

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. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the previous year, the company earned $5.16 EPS. The company's revenue for the quarter was down 3.9% on a year-over-year basis. On average, equities research analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a dividend of $1.86 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $7.44 annualized dividend and a dividend yield of 4.34%. Nexstar Media Group's payout ratio is 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.