Stifel Financial Corp Trims Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Stifel Financial Corp trimmed its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 45.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,673 shares of the company's stock after selling 13,682 shares during the period. Stifel Financial Corp owned 0.05% of Nexstar Media Group worth $2,634,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NXST. Barclays PLC lifted its holdings in shares of Nexstar Media Group by 16.8% during the third quarter. Barclays PLC now owns 45,051 shares of the company's stock valued at $7,448,000 after purchasing an additional 6,475 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Nexstar Media Group during the third quarter valued at $33,000. Tidal Investments LLC raised its position in shares of Nexstar Media Group by 57.8% in the 3rd quarter. Tidal Investments LLC now owns 3,217 shares of the company's stock worth $532,000 after purchasing an additional 1,178 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Nexstar Media Group by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company's stock worth $1,073,000 after purchasing an additional 68 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in Nexstar Media Group by 1.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 10,127 shares of the company's stock valued at $1,600,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NXST. Wells Fargo & Company dropped their price target on shares of Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Rosenblatt Securities restated a "buy" rating and issued a $200.00 price target on shares of Nexstar Media Group in a research report on Monday, March 10th. Barrington Research restated an "outperform" rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Loop Capital upgraded Nexstar Media Group from a "hold" rating to a "buy" rating and increased their target price for the stock from $190.00 to $200.00 in a research report on Friday, February 28th. Finally, Guggenheim upped their target price on shares of 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 analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $205.71.

Nexstar Media Group Stock Performance

Shares of NXST stock traded up $1.25 during mid-day trading on Wednesday, reaching $155.77. The stock had a trading volume of 1,001,852 shares, compared to its average volume of 386,600. Nexstar Media Group, Inc. has a 1-year low of $141.66 and a 1-year high of $191.86. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 9.01, 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. The business's fifty day moving average is $163.03 and its 200-day moving average is $162.29.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $9.22 by ($1.66). The business had revenue of $1.49 billion for the quarter, compared to analysts' expectations of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. On average, research analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be paid a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 4.78%. The ex-dividend date is Monday, May 19th. Nexstar Media Group's dividend payout ratio is currently 34.56%.

Insider Activity at Nexstar Media Group

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 transaction of $339,020.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Perry A. Sook sold 32,096 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $170.67, for a total value of $5,477,824.32. Following the transaction, the chief executive officer now directly owns 806,019 shares of the company's stock, valued at $137,563,262.73. The trade was a 3.83 % 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. 6.30% of the stock is owned by company insiders.

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.