Proficio Capital Partners LLC Invests $225,000 in Nexstar Media Group, Inc. (NASDAQ:NXST)

Proficio Capital Partners LLC acquired a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,425 shares of the company’s stock, valued at approximately $225,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cerity Partners LLC lifted its holdings in shares of Nexstar Media Group by 99.7% during the third quarter. Cerity Partners LLC now owns 7,136 shares of the company’s stock valued at $1,180,000 after purchasing an additional 3,563 shares in the last quarter. Hancock Whitney Corp raised its position in Nexstar Media Group by 11.6% in the 3rd quarter. Hancock Whitney Corp now owns 2,442 shares of the company’s stock worth $404,000 after buying an additional 254 shares during the last quarter. D.A. Davidson & CO. raised its position in Nexstar Media Group by 1.5% in the 3rd quarter. D.A. Davidson & CO. now owns 23,632 shares of the company’s stock worth $3,908,000 after buying an additional 340 shares during the last quarter. Brooklyn Investment Group bought a new position in Nexstar Media Group during the 3rd quarter valued at about $25,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Nexstar Media Group by 67.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 26,239 shares of the company’s stock valued at $4,339,000 after acquiring an additional 10,603 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Perry A. Sook sold 32,096 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $170.67, for a total transaction of $5,477,824.32. Following the completion of the transaction, the chief executive officer now owns 806,019 shares in the company, valued at approximately $137,563,262.73. This represents a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gary Weitman sold 1,241 shares of Nexstar Media Group stock in a transaction on Friday, March 7th. The shares were sold at an average price of $177.21, for a total transaction 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. This represents a 23.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,105 shares of company stock worth $6,722,463 in the last three months. Company insiders own 6.30% of the company’s stock.

Nexstar Media Group Trading Down 1.8 %

NASDAQ:NXST opened at $179.49 on Friday. Nexstar Media Group, Inc. has a one year low of $146.04 and a one year high of $191.86. The business has a fifty day moving average price of $161.89 and a 200-day moving average price of $164.49. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47. 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 issued its quarterly earnings results on Thursday, February 27th. The company reported $7.56 EPS for the quarter, missing analysts’ consensus estimates of $9.22 by ($1.66). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Sell-side analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a $1.86 dividend. The ex-dividend date was Wednesday, February 12th. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.15%. Nexstar Media Group’s dividend payout ratio is 34.56%.

Analyst Ratings Changes

Several research firms have recently weighed in on NXST. Barrington Research reissued an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Wednesday, March 5th. StockNews.com lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Rosenblatt Securities restated a “buy” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Monday, March 10th. Guggenheim lifted their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Benchmark increased their target price on Nexstar Media Group from $200.00 to $225.00 and gave the company a “buy” rating in a report on Friday, February 28th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Nexstar Media Group presently has an average rating of “Moderate Buy” and a consensus target price of $208.43.

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.