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

Stifel Financial Corp boosted its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 136.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,355 shares of the company’s stock after acquiring an additional 17,535 shares during the period. Stifel Financial Corp owned 0.10% of Nexstar Media Group worth $5,019,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. BNP Paribas Financial Markets grew its position in shares of Nexstar Media Group by 67.8% in the third quarter. BNP Paribas Financial Markets now owns 26,239 shares of the company’s stock valued at $4,339,000 after purchasing an additional 10,603 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Nexstar Media Group by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company’s stock valued at $179,149,000 after buying an additional 7,117 shares in the last quarter. Quest Partners LLC increased its stake in shares of Nexstar Media Group by 661.4% in the 3rd quarter. Quest Partners LLC now owns 8,672 shares of the company’s stock worth $1,434,000 after acquiring an additional 7,533 shares during the last quarter. Holocene Advisors LP raised its holdings in shares of Nexstar Media Group by 680.9% during the 3rd quarter. Holocene Advisors LP now owns 17,219 shares of the company’s stock worth $2,847,000 after acquiring an additional 15,014 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Nexstar Media Group by 5.8% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 111,905 shares of the company’s stock valued at $18,504,000 after acquiring an additional 6,101 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insider Buying and Selling

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 250 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $164.44, for a total transaction of $41,110.00. Following the completion of the transaction, the director now owns 7,725 shares in the company, valued at $1,270,299. The trade was a 3.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Perry A. Sook sold 12,239 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $190.28, for a total transaction of $2,328,836.92. Following the completion of the sale, the chief executive officer now owns 674,694 shares in the company, valued at $128,380,774.32. The trade was a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,798 shares of company stock valued at $7,989,464 in the last three months. 6.30% of the stock is owned by corporate insiders.

Nexstar Media Group Stock Performance

NASDAQ NXST opened at $164.60 on Friday. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. The company has a market cap of $5.11 billion, a P/E ratio of 9.52, a P/E/G ratio of 0.20 and a beta of 1.45. The stock has a 50-day moving average of $170.11 and a two-hundred day moving average of $167.39. Nexstar Media Group, Inc. has a 1-year low of $147.25 and a 1-year high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the firm posted $0.70 EPS. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, analysts anticipate that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.

Nexstar Media Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $1.69 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a yield of 4.11%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 39.10%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NXST shares. Benchmark restated a “buy” rating and set a $215.00 price objective on shares of Nexstar Media Group in a research report on Friday, November 8th. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Loop Capital lowered Nexstar Media Group from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $200.00 to $190.00 in a research report on Friday, November 8th. Barrington Research reissued an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, November 7th. Finally, Guggenheim decreased their price target on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $204.29.

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.