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

Proficio Capital Partners LLC bought a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST) in the fourth quarter, HoldingsChannel.com reports. The fund bought 1,425 shares of the company’s stock, valued at approximately $225,000.

Several other large investors also recently bought and sold shares of NXST. Brooklyn Investment Group purchased a new position in Nexstar Media Group during the third quarter worth $25,000. SBI Securities Co. Ltd. purchased a new stake in shares of Nexstar Media Group in the 4th quarter worth approximately $25,000. True Wealth Design LLC purchased a new stake in Nexstar Media Group during the third quarter worth $30,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Nexstar Media Group during the third quarter worth $33,000. Finally, Jones Financial Companies Lllp grew its stake in shares of Nexstar Media Group by 15.3% during the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock worth $87,000 after acquiring an additional 73 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Insider Activity

In other Nexstar Media Group news, CEO Perry A. Sook sold 32,096 shares of Nexstar Media Group stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $170.67, for a total value of $5,477,824.32. Following the transaction, the chief executive officer now owns 806,019 shares in the company, valued at $137,563,262.73. This trade represents a 3.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Charles Thomas Mcmillen sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $169.51, for a total value of $339,020.00. Following the sale, the director now directly owns 4,975 shares of the company’s stock, valued at approximately $843,312.25. This trade represents a 28.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,105 shares of company stock worth $6,722,463 over the last ninety days. 6.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NXST shares. Guggenheim increased their price target on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Monday, March 10th. Loop Capital upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $190.00 to $200.00 in a report on Friday, February 28th. Barrington Research reissued an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Finally, StockNews.com downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to 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 Price Performance

Shares of NASDAQ:NXST opened at $179.49 on Friday. The company’s fifty day moving average price is $161.89 and its 200 day moving average price is $164.49. 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, Inc. has a 12 month low of $146.04 and a 12 month high of $191.86. The firm has a market capitalization of $5.48 billion, a P/E ratio of 10.38, a P/E/G ratio of 0.45 and a beta of 1.47.

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

Nexstar Media Group Increases Dividend

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

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.