Sei Investments Co. Boosts Stake in Nexstar Media Group, Inc. $NXST

Sei Investments Co. increased its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 11.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 111,340 shares of the company’s stock after purchasing an additional 11,475 shares during the quarter. Sei Investments Co. owned approximately 0.36% of Nexstar Media Group worth $20,128,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of NXST. Torren Management LLC purchased a new stake in Nexstar Media Group in the fourth quarter worth about $28,000. Measured Wealth Private Client Group LLC purchased a new stake in Nexstar Media Group in the 3rd quarter worth approximately $28,000. WPG Advisers LLC raised its stake in Nexstar Media Group by 65.7% during the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock worth $36,000 after acquiring an additional 71 shares during the period. State of Wyoming purchased a new position in Nexstar Media Group during the second quarter valued at approximately $54,000. Finally, Danske Bank A S purchased a new position in Nexstar Media Group during the third quarter valued at approximately $59,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NXST has been the subject of a number of analyst reports. Citigroup raised shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $252.00 to $220.00 in a research note on Friday, April 10th. Barrington Research reaffirmed an “outperform” rating and issued a $290.00 target price on shares of Nexstar Media Group in a report on Tuesday, April 28th. Wells Fargo & Company cut their price target on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Benchmark decreased their price target on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $259.67.

Nexstar Media Group Price Performance

Nexstar Media Group stock opened at $196.94 on Thursday. Nexstar Media Group, Inc. has a 52-week low of $154.47 and a 52-week high of $254.30. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53. The firm’s fifty day moving average is $178.52 and its 200 day moving average is $201.79. The company has a market cap of $6.01 billion, a price-to-earnings ratio of 42.26, a PEG ratio of 0.52 and a beta of 0.91.

Insider Activity

In other news, EVP Blake Russell sold 261 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $170.81, for a total value of $44,581.41. Following the completion of the transaction, the executive vice president owned 28,296 shares in the company, valued at approximately $4,833,239.76. The trade was a 0.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dana Zimmer sold 876 shares of Nexstar Media Group stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $170.81, for a total transaction of $149,629.56. Following the transaction, the insider directly owned 5,800 shares of the company’s stock, valued at $990,698. The trade was a 13.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 22,813 shares of company stock worth $4,174,731. 7.00% of the stock is owned by insiders.

About Nexstar Media Group

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.