Proficio Capital Partners LLC Makes New $35.56 Million Investment in Nexstar Media Group, Inc. (NASDAQ:NXST)

Proficio Capital Partners LLC acquired a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 225,107 shares of the company’s stock, valued at approximately $35,560,000.

Other hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group bought a new stake in shares of Nexstar Media Group during the 3rd quarter valued at $25,000. True Wealth Design LLC bought a new stake in shares of Nexstar Media Group during the 3rd quarter valued at $30,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Nexstar Media Group during the 3rd quarter valued at $33,000. Capital Performance Advisors LLP bought a new stake in shares of Nexstar Media Group during the 3rd quarter valued at $44,000. Finally, Quarry LP grew its position in shares of Nexstar Media Group by 111.1% during the 3rd quarter. Quarry LP now owns 627 shares of the company’s stock valued at $104,000 after acquiring an additional 330 shares during the period. Institutional investors own 95.30% of the company’s stock.

Insiders Place Their Bets

In other news, Director Bernadette S. Aulestia sold 500 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $164.45, for a total value of $82,225.00. Following the sale, the director now directly owns 2,000 shares in the company, valued at $328,900. The trade was a 20.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Perry A. Sook sold 52,808 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $157.41, for a total transaction of $8,312,507.28. Following the completion of the sale, the chief executive officer now owns 674,694 shares in the company, valued at approximately $106,203,582.54. This trade represents a 7.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 127,493 shares of company stock worth $20,354,366 in the last 90 days. 6.30% of the stock is currently owned by corporate insiders.

Nexstar Media Group Stock Up 4.0 %

Shares of NXST stock opened at $169.15 on Friday. The stock has a market cap of $5.25 billion, a P/E ratio of 9.78, a PEG ratio of 0.45 and a beta of 1.45. Nexstar Media Group, Inc. has a 52 week low of $146.04 and a 52 week high of $191.86. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The company’s fifty day simple moving average is $155.08 and its two-hundred day simple moving average is $163.29.

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

Nexstar Media Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a $1.86 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.44 annualized dividend and a yield of 4.40%. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s payout ratio is presently 43.03%.

Analyst Upgrades and Downgrades

NXST has been the subject of a number of recent research reports. StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Barrington Research restated an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday. Loop Capital upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating and lifted their target price for the company from $190.00 to $200.00 in a research note on Friday. Guggenheim lifted 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. Finally, Benchmark lifted their target price on shares of Nexstar Media Group from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Friday. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $210.29.

About Nexstar Media Group

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.