Demars Financial Group LLC Increases Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Demars Financial Group LLC boosted its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 13.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 879,253 shares of the company’s stock after purchasing an additional 105,516 shares during the quarter. Nexstar Media Group comprises approximately 0.5% of Demars Financial Group LLC’s holdings, making the stock its 24th largest holding. Demars Financial Group LLC owned 2.88% of Nexstar Media Group worth $157,580,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of NXST. Jones Financial Companies Lllp raised its position in Nexstar Media Group by 15.3% in the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock worth $87,000 after purchasing an additional 73 shares during the period. Mariner LLC boosted its stake in shares of Nexstar Media Group by 5.3% during the fourth quarter. Mariner LLC now owns 2,300 shares of the company’s stock valued at $363,000 after purchasing an additional 115 shares in the last quarter. Focus Partners Wealth boosted its stake in shares of Nexstar Media Group by 7.3% during the fourth quarter. Focus Partners Wealth now owns 1,726 shares of the company’s stock valued at $273,000 after purchasing an additional 117 shares in the last quarter. Trust Point Inc. boosted its stake in shares of Nexstar Media Group by 5.4% during the first quarter. Trust Point Inc. now owns 2,334 shares of the company’s stock valued at $418,000 after purchasing an additional 119 shares in the last quarter. Finally, Integrated Advisors Network LLC boosted its stake in shares of Nexstar Media Group by 9.6% during the fourth quarter. Integrated Advisors Network LLC now owns 1,461 shares of the company’s stock valued at $231,000 after purchasing an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

NXST has been the topic of a number of recent research reports. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Monday, March 10th. Guggenheim raised their target price on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Loop Capital upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating and raised their target price for the company from $190.00 to $200.00 in a research note on Friday, February 28th. Wall Street Zen downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Wells Fargo & Company lowered their target price on shares of Nexstar Media Group from $216.00 to $200.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $205.71.

Insiders Place Their Bets

In related news, insider Sean Compton sold 1,088 shares of the business’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $175.53, for a total transaction of $190,976.64. Following the completion of the transaction, the insider now directly owns 12,096 shares in the company, valued at $2,123,210.88. The trade was a 8.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gary Weitman sold 325 shares of the business’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $167.25, for a total transaction of $54,356.25. Following the transaction, the insider now owns 7,425 shares of the company’s stock, valued at $1,241,831.25. This represents a 4.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,033 shares of company stock valued at $3,491,901. Insiders own 6.70% of the company’s stock.

Nexstar Media Group Trading Up 1.5%

NASDAQ NXST opened at $169.09 on Tuesday. The company has a fifty day simple moving average of $162.28 and a two-hundred day simple moving average of $162.01. The stock has a market cap of $5.16 billion, a P/E ratio of 9.78, a P/E/G ratio of 0.45 and a beta of 1.05. Nexstar Media Group, Inc. has a 12-month low of $141.66 and a 12-month high of $191.86. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, May 8th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.11. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the company posted $5.16 earnings per share. On average, analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a $1.86 dividend. The ex-dividend date was Monday, May 19th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.40%. Nexstar Media Group’s dividend payout ratio is currently 37.69%.

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.