Fideuram Intesa Sanpaolo Private Banking S.P.A. Makes New $1.08 Million Investment in Nexstar Media Group, Inc. $NXST

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Nexstar Media Group, Inc. (NASDAQ:NXST) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,298 shares of the company’s stock, valued at approximately $1,076,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NXST. Torren Management LLC bought a new stake in Nexstar Media Group in the fourth quarter worth about $28,000. Measured Wealth Private Client Group LLC bought a new stake in Nexstar Media Group in the third quarter worth about $28,000. Root Financial Partners LLC bought a new stake in Nexstar Media Group in the third quarter worth about $31,000. WPG Advisers LLC raised its position in Nexstar Media Group by 65.7% in the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock worth $36,000 after acquiring an additional 71 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its position in Nexstar Media Group by 164.5% in the third quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock worth $40,000 after acquiring an additional 125 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Nexstar Media Group Price Performance

NASDAQ NXST opened at $189.42 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53. The company has a market cap of $5.78 billion, a PE ratio of 40.65, a PEG ratio of 0.48 and a beta of 0.97. Nexstar Media Group, Inc. has a 1 year low of $164.00 and a 1 year high of $254.30. The stock’s 50-day moving average price is $203.43 and its two-hundred day moving average price is $208.16.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be given a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Friday, May 15th. Nexstar Media Group’s dividend payout ratio is 159.66%.

Insider Activity at Nexstar Media Group

In related news, insider Dan Lanzano sold 237 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $196.37, for a total value of $46,539.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sean Compton sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $196.00, for a total transaction of $980,000.00. Following the completion of the sale, the insider owned 11,252 shares of the company’s stock, valued at approximately $2,205,392. This trade represents a 30.77% decrease in their position. The SEC filing for this sale provides additional information. 6.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NXST. Barrington Research restated an “outperform” rating and issued a $290.00 price target on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Zacks Research upgraded shares of Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Benchmark decreased their price target on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Finally, Citigroup upgraded shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $252.00 to $220.00 in a research report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Nexstar Media Group presently has an average rating of “Buy” and an average target price of $259.67.

About Nexstar Media Group

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.