Oppenheimer & Co. Inc. Acquires 1,111 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Oppenheimer & Co. Inc. grew its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 37.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,117 shares of the company’s stock after purchasing an additional 1,111 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Nexstar Media Group were worth $650,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. BNP Paribas Financial Markets raised its stake 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 worth $4,339,000 after acquiring an additional 10,603 shares in the last quarter. SGL Investment Advisors Inc. bought a new position in shares of Nexstar Media Group during the 3rd quarter worth approximately $3,758,000. Charles Schwab Investment Management Inc. raised its stake in shares of Nexstar Media Group by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company’s stock worth $179,149,000 after acquiring an additional 7,117 shares in the last quarter. Quest Partners LLC raised its stake in shares of Nexstar Media Group by 661.4% during 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 in the last quarter. Finally, Holocene Advisors LP raised its stake 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 in the last quarter. Institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on NXST shares. Guggenheim upped their price objective on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a report on Friday, February 28th. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Wednesday. Benchmark upped their price objective on shares of Nexstar Media Group from $200.00 to $225.00 and gave the company a “buy” rating in a report on Friday, February 28th. StockNews.com downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Monday. Finally, Loop Capital raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $190.00 to $200.00 in a report on Friday, February 28th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $210.29.

Nexstar Media Group Stock Performance

Shares of NASDAQ NXST opened at $172.59 on Friday. The company’s fifty day moving average price is $155.98 and its 200 day moving average price is $163.64. Nexstar Media Group, Inc. has a 1 year low of $146.04 and a 1 year high of $191.86. The company has a market capitalization of $5.35 billion, a PE ratio of 9.98, a price-to-earnings-growth ratio of 0.45 and a beta of 1.45. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, February 27th. The company reported $7.56 earnings per share (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 firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.48 billion. On average, 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 4.31%. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date was Wednesday, February 12th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 34.56%.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, Director Lisbeth Mcnabb sold 875 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $172.00, for a total transaction of $150,500.00. Following the transaction, the director now directly owns 5,752 shares of the company’s stock, valued at $989,344. This trade represents a 13.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bernadette S. Aulestia sold 500 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $164.45, for a total transaction of $82,225.00. Following the completion of the sale, the director now owns 2,000 shares of the company’s stock, valued at $328,900. This trade represents a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 161,589 shares of company stock valued at $26,171,210 over the last ninety days. Corporate 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.