Chicago Partners Investment Group LLC Takes Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Chicago Partners Investment Group LLC purchased a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,351 shares of the company’s stock, valued at approximately $232,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake in Nexstar Media Group by 632.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock valued at $32,000 after purchasing an additional 177 shares in the last quarter. First United Bank & Trust bought a new stake in Nexstar Media Group during the 4th quarter valued at $33,000. SRS Capital Advisors Inc. increased its stake in Nexstar Media Group by 350.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 239 shares of the company’s stock valued at $37,000 after purchasing an additional 186 shares in the last quarter. OLD Second National Bank of Aurora bought a new stake in Nexstar Media Group during the 4th quarter valued at $45,000. Finally, Quadrant Capital Group LLC increased its stake in Nexstar Media Group by 41.1% during the 4th quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock valued at $46,000 after purchasing an additional 86 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, Director Lisbeth Mcnabb sold 3,175 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $168.00, for a total transaction of $533,400.00. Following the sale, the director now directly owns 5,252 shares of the company’s stock, valued at $882,336. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Gary Weitman sold 522 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $149.08, for a total transaction of $77,819.76. Following the sale, the insider now directly owns 12,477 shares in the company, valued at $1,860,071.16. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Lisbeth Mcnabb sold 3,175 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $168.00, for a total value of $533,400.00. Following the sale, the director now owns 5,252 shares in the company, valued at $882,336. The disclosure for this sale can be found here. Insiders have sold a total of 13,001 shares of company stock valued at $2,123,127 over the last three months. 5.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Wells Fargo & Company raised shares of Nexstar Media Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $190.00 to $221.00 in a report on Monday, May 13th. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, May 9th. Rosenblatt Securities cut their price objective on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Loop Capital raised shares of Nexstar Media Group to a “strong-buy” rating in a report on Friday, May 10th. Finally, Benchmark reaffirmed a “buy” rating and set a $225.00 price objective on shares of Nexstar Media Group in a report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $206.00.

Nexstar Media Group Price Performance

Shares of NASDAQ:NXST opened at $151.94 on Wednesday. The company’s 50-day moving average is $162.18 and its 200 day moving average is $163.83. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.80 and a current ratio of 1.80. The company has a market capitalization of $4.99 billion, a P/E ratio of 12.85, a price-to-earnings-growth ratio of 0.55 and a beta of 1.48. Nexstar Media Group, Inc. has a fifty-two week low of $132.30 and a fifty-two week high of $187.32.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data on Thursday, May 9th. The company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.28 by $0.88. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.29 billion. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.97 earnings per share. On average, equities research analysts forecast that Nexstar Media Group, Inc. will post 27.62 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend was Thursday, May 9th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 57.19%.

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.