Hillsdale Investment Management Inc. Takes Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Hillsdale Investment Management Inc. purchased a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 5,000 shares of the company’s stock, valued at approximately $790,000.

A number of other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Nexstar Media Group by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company’s stock valued at $1,073,000 after acquiring an additional 68 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Nexstar Media Group by 15.3% during the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock worth $87,000 after buying an additional 73 shares during the last quarter. Natixis Advisors LLC grew its stake in Nexstar Media Group by 1.2% during the 3rd quarter. Natixis Advisors LLC now owns 10,185 shares of the company’s stock worth $1,684,000 after buying an additional 117 shares during the last quarter. Davis Capital Management grew its stake in Nexstar Media Group by 2.0% during the 4th quarter. Davis Capital Management now owns 6,270 shares of the company’s stock worth $990,000 after buying an additional 122 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its stake in Nexstar Media Group by 5.8% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 2,518 shares of the company’s stock worth $398,000 after buying an additional 137 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on NXST. Guggenheim upped their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Barrington Research reiterated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Wednesday, March 5th. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Monday, March 10th. Benchmark boosted their price target on Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Loop Capital upgraded Nexstar Media Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $190.00 to $200.00 in a research report on Friday, February 28th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $208.43.

Insider Activity

In other news, Director Charles Thomas Mcmillen sold 750 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $159.93, for a total transaction of $119,947.50. Following the completion of the sale, the director now directly owns 6,975 shares of the company’s stock, valued at $1,115,511.75. This represents a 9.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Perry A. Sook sold 37,025 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $160.14, for a total value of $5,929,183.50. Following the sale, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at approximately $108,045,497.16. This represents a 5.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,112 shares of company stock valued at $12,085,893 over the last three months. Insiders own 6.30% of the company’s stock.

Nexstar Media Group Trading Down 0.2 %

Shares of Nexstar Media Group stock opened at $176.99 on Monday. 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 firm has a market cap of $5.40 billion, a price-to-earnings ratio of 10.24, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47. The business has a fifty day simple moving average of $159.66 and a 200-day simple moving average of $164.02. Nexstar Media Group, Inc. has a fifty-two week low of $146.04 and a fifty-two week high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, February 27th. The company reported $7.56 earnings per share for the quarter, missing the consensus estimate of $9.22 by ($1.66). The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. On average, equities analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal 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 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 of this dividend was Wednesday, February 12th. This represents a $7.44 annualized dividend and a dividend yield of 4.20%. 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.