Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Bought by Demars Financial Group LLC

Demars Financial Group LLC boosted its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 13.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 879,253 shares of the company’s stock after purchasing an additional 105,516 shares during the period. Nexstar Media Group comprises approximately 0.5% of Demars Financial Group LLC’s investment portfolio, making the stock its 24th biggest holding. Demars Financial Group LLC’s holdings in Nexstar Media Group were worth $157,580,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Trust Point Inc. raised its position in shares of Nexstar Media Group by 5.4% in the first quarter. Trust Point Inc. now owns 2,334 shares of the company’s stock worth $418,000 after acquiring an additional 119 shares during the period. Fifth Third Bancorp raised its position in shares of Nexstar Media Group by 31.3% in the first quarter. Fifth Third Bancorp now owns 713 shares of the company’s stock worth $128,000 after acquiring an additional 170 shares during the period. CX Institutional raised its position in shares of Nexstar Media Group by 438.6% in the first quarter. CX Institutional now owns 8,505 shares of the company’s stock worth $1,524,000 after acquiring an additional 6,926 shares during the period. SG Americas Securities LLC acquired a new position in shares of Nexstar Media Group in the first quarter worth about $17,574,000. Finally, Harbor Capital Advisors Inc. raised its position in shares of Nexstar Media Group by 2.8% in the first quarter. Harbor Capital Advisors Inc. now owns 10,412 shares of the company’s stock worth $1,866,000 after acquiring an additional 285 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Nexstar Media Group Stock Up 1.5%

NXST stock opened at $169.09 on Tuesday. Nexstar Media Group, Inc. has a 52 week low of $141.66 and a 52 week high of $191.86. The stock has a market capitalization of $5.16 billion, a P/E ratio of 9.78, a P/E/G 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. The firm has a 50-day simple moving average of $162.28 and a 200-day simple moving average of $162.01.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, May 8th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the company earned $5.16 EPS. Nexstar Media Group’s revenue was down 3.9% compared to the same quarter last year. Equities analysts forecast 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 disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid 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 yield of 4.40%. Nexstar Media Group’s dividend payout ratio is presently 37.69%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NXST. Benchmark decreased their price objective on shares of Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Guggenheim boosted their target price on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Barrington Research reissued an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Tuesday, May 13th. Wells Fargo & Company cut their target price on shares of Nexstar Media Group from $216.00 to $200.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Finally, Loop Capital raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $190.00 to $200.00 in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Nexstar Media Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.71.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, insider Andrew Alford sold 3,768 shares of the business’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total value of $685,700.64. Following the transaction, the insider now directly owns 5,405 shares in the company, valued at $983,601.90. The trade was a 41.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Gary Weitman sold 325 shares of the business’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $167.25, for a total transaction of $54,356.25. Following the completion of the transaction, the insider now owns 7,425 shares in the company, valued at $1,241,831.25. The trade was a 4.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,033 shares of company stock valued at $3,491,901. Corporate insiders own 6.70% of the company’s stock.

Nexstar Media Group 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.