Sequoia Financial Advisors LLC Purchases 339 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Sequoia Financial Advisors LLC increased its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 8.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,173 shares of the company’s stock after buying an additional 339 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Nexstar Media Group were worth $659,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of NXST. Pacer Advisors Inc. boosted its stake in shares of Nexstar Media Group by 27,180.2% in the fourth quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company’s stock worth $190,650,000 after acquiring an additional 1,202,453 shares during the period. Proficio Capital Partners LLC bought a new position in Nexstar Media Group in the 4th quarter worth approximately $35,560,000. Raymond James Financial Inc. purchased a new stake in Nexstar Media Group during the 4th quarter valued at approximately $8,402,000. Payden & Rygel grew its holdings in Nexstar Media Group by 40.4% during the 3rd quarter. Payden & Rygel now owns 110,200 shares of the company’s stock valued at $18,222,000 after buying an additional 31,700 shares in the last quarter. Finally, World Investment Advisors LLC bought a new stake in shares of Nexstar Media Group during the third quarter valued at approximately $3,747,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Trading Up 2.4 %

Shares of NXST stock opened at $174.01 on Tuesday. The company has a market cap of $5.31 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47. Nexstar Media Group, Inc. has a 1 year low of $146.04 and a 1 year high of $191.86. The stock’s 50 day simple moving average is $158.03 and its two-hundred day simple moving average is $163.79. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, February 27th. The company reported $7.56 earnings per share for the quarter, missing the consensus estimate of $9.22 by ($1.66). The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. Research analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 4.28%. The ex-dividend date was Wednesday, February 12th. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s dividend payout ratio (DPR) is 34.56%.

Analyst Ratings Changes

NXST has been the subject of several research analyst reports. StockNews.com cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Loop Capital upgraded Nexstar Media Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $190.00 to $200.00 in a research report on Friday, February 28th. Guggenheim increased their price target on Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Barrington Research restated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Wednesday, March 5th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Monday, March 10th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.43.

Insider Buying and Selling

In related news, Director Charles Thomas Mcmillen sold 2,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $169.51, for a total transaction of $339,020.00. Following the completion of the transaction, the director now owns 4,975 shares in the company, valued at $843,312.25. The trade was a 28.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gary Weitman sold 1,241 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $177.21, for a total value of $219,917.61. Following the completion of the sale, the insider now owns 3,975 shares in the company, valued at approximately $704,409.75. The trade was a 23.79 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 126,250 shares of company stock valued at $20,450,616. Company insiders own 6.30% of the company’s stock.

Nexstar Media Group Company 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.