SG Americas Securities LLC Buys 47,623 Shares of Nexstar Media Group, Inc. $NXST

SG Americas Securities LLC lifted its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 1,272.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 51,367 shares of the company’s stock after purchasing an additional 47,623 shares during the quarter. SG Americas Securities LLC’s holdings in Nexstar Media Group were worth $9,289,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in Nexstar Media Group by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,402,272 shares of the company’s stock valued at $284,738,000 after buying an additional 10,949 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Nexstar Media Group by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,181,727 shares of the company’s stock worth $239,950,000 after buying an additional 23,360 shares during the period. Alliancebernstein L.P. boosted its stake in Nexstar Media Group by 27.1% during the second quarter. Alliancebernstein L.P. now owns 882,322 shares of the company’s stock worth $152,598,000 after buying an additional 187,864 shares during the period. Geode Capital Management LLC increased its position in Nexstar Media Group by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 773,443 shares of the company’s stock valued at $157,114,000 after acquiring an additional 13,084 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in Nexstar Media Group by 6.8% during the fourth quarter. Janus Henderson Group PLC now owns 632,387 shares of the company’s stock valued at $128,408,000 after acquiring an additional 40,177 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

NXST has been the subject of several analyst reports. Citigroup upgraded shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $252.00 to $220.00 in a report on Friday, April 10th. Barrington Research reiterated an “outperform” rating and set a $290.00 price target on shares of Nexstar Media Group in a report on Tuesday, April 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Wall Street Zen upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $259.67.

Insider Buying and Selling

In other news, EVP Blake Russell sold 261 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $170.81, for a total transaction of $44,581.41. Following the transaction, the executive vice president directly owned 28,296 shares of the company’s stock, valued at approximately $4,833,239.76. This trade represents a 0.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dana Zimmer sold 876 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $170.81, for a total transaction of $149,629.56. Following the sale, the insider directly owned 5,800 shares of the company’s stock, valued at $990,698. This represents a 13.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 22,813 shares of company stock worth $4,174,731 over the last 90 days. Corporate insiders own 7.00% of the company’s stock.

Nexstar Media Group Stock Up 6.0%

Shares of NXST opened at $164.00 on Friday. The firm has a fifty day moving average price of $187.12 and a 200-day moving average price of $205.44. 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 firm has a market capitalization of $5.01 billion, a P/E ratio of 35.19, a P/E/G ratio of 0.41 and a beta of 0.91. Nexstar Media Group, Inc. has a 12-month low of $154.47 and a 12-month high of $254.30.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a dividend of $1.86 per share. The ex-dividend date was Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a yield of 4.5%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 159.66%.

Nexstar Media Group Company Profile

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.