O Shaughnessy Asset Management LLC Has $13.30 Million Stake in Nexstar Media Group, Inc. $NXST

O Shaughnessy Asset Management LLC boosted its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 43.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 65,516 shares of the company’s stock after buying an additional 19,863 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Nexstar Media Group were worth $13,303,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Advisors Asset Management Inc. raised its position in Nexstar Media Group by 19.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 27,849 shares of the company’s stock valued at $5,507,000 after buying an additional 4,616 shares during the last quarter. M&T Bank Corp raised its position in Nexstar Media Group by 2,573.4% in the 4th quarter. M&T Bank Corp now owns 140,112 shares of the company’s stock valued at $28,494,000 after buying an additional 134,871 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Nexstar Media Group by 5.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 93,334 shares of the company’s stock valued at $18,456,000 after buying an additional 4,609 shares during the last quarter. JPMorgan Chase & Co. raised its position in Nexstar Media Group by 157.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 374,027 shares of the company’s stock valued at $73,960,000 after buying an additional 228,603 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Nexstar Media Group by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 773,443 shares of the company’s stock valued at $157,114,000 after buying an additional 13,084 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Nexstar Media Group Stock Up 1.1%

Shares of NASDAQ:NXST opened at $179.57 on Wednesday. The company has a market capitalization of $5.48 billion, a PE ratio of 38.53, a price-to-earnings-growth ratio of 0.45 and a beta of 0.91. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.76 and a quick ratio of 1.76. The business has a fifty day moving average price of $191.60 and a two-hundred day moving average price of $207.55. Nexstar Media Group, Inc. has a 1 year low of $164.00 and a 1 year high of $254.30.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a dividend of $1.86 per share. The ex-dividend date was Friday, May 15th. This represents a $7.44 annualized dividend and a dividend yield of 4.1%. Nexstar Media Group’s dividend payout ratio is presently 159.66%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on NXST shares. Wells Fargo & Company lowered their price target on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Citigroup upgraded Nexstar Media Group from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $252.00 to $220.00 in a research note on Friday, April 10th. Guggenheim upped their price objective on Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Barrington Research restated an “outperform” rating and issued a $290.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, April 28th. Finally, Zacks Research upgraded Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $259.67.

Insider Activity at Nexstar Media Group

In other news, Director Charles Thomas Mcmillen sold 1,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $180.00, for a total transaction of $180,000.00. Following the completion of the transaction, the director owned 5,658 shares in the company, valued at approximately $1,018,440. This represents a 15.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew Alford sold 605 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $185.33, for a total value of $112,124.65. Following the transaction, the insider owned 11,689 shares of the company’s stock, valued at $2,166,322.37. The trade was a 4.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 13,798 shares of company stock worth $2,608,489 in the last three months. Corporate insiders own 6.70% of the company’s stock.

Nexstar Media Group Company Profile

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.