Sentinel Dome Partners LLC Invests $2.31 Million in Nexstar Media Group, Inc. $NXST

Sentinel Dome Partners LLC bought a new position in Nexstar Media Group, Inc. (NASDAQ:NXST) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,400 shares of the company’s stock, valued at approximately $2,315,000. Nexstar Media Group comprises about 1.6% of Sentinel Dome Partners LLC’s investment portfolio, making the stock its 20th biggest position.

Other hedge funds also recently bought and sold shares of the company. M&T Bank Corp increased its stake in shares of Nexstar Media Group by 2,573.4% during the fourth 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 period. Northwestern Mutual Wealth Management Co. lifted its stake in Nexstar Media Group by 3,648.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 64,995 shares of the company’s stock worth $13,197,000 after acquiring an additional 63,261 shares during the period. JPMorgan Chase & Co. lifted its stake in Nexstar Media Group by 157.2% in the third quarter. JPMorgan Chase & Co. now owns 374,027 shares of the company’s stock worth $73,960,000 after acquiring an additional 228,603 shares during the period. Geode Capital Management LLC boosted its holdings in Nexstar Media Group by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 773,443 shares of the company’s stock valued at $157,114,000 after acquiring an additional 13,084 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Nexstar Media Group by 20.6% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 57,743 shares of the company’s stock valued at $11,743,000 after acquiring an additional 9,848 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on NXST shares. Barrington Research restated an “outperform” rating and issued a $290.00 price objective on shares of Nexstar Media Group in a report on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Guggenheim boosted their price target on shares of Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Wells Fargo & Company lowered their price objective on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Finally, Zacks Research raised Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $259.67.

Insider Buying and Selling at Nexstar Media Group

In other news, insider Gary Weitman sold 261 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $170.81, for a total transaction of $44,581.41. Following the completion of the transaction, the insider directly owned 6,963 shares in the company, valued at approximately $1,189,350.03. This trade represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Sean Compton sold 840 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $170.81, for a total transaction of $143,480.40. Following the transaction, the insider owned 14,430 shares of the company’s stock, valued at $2,464,788.30. The trade was a 5.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 22,813 shares of company stock valued at $4,174,731 over the last three months. 7.00% of the stock is currently owned by corporate insiders.

Nexstar Media Group Stock Performance

Shares of Nexstar Media Group stock opened at $164.16 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53. The firm has a market capitalization of $5.01 billion, a P/E ratio of 35.23, a P/E/G ratio of 0.41 and a beta of 0.91. The business has a fifty day simple moving average of $189.52 and a two-hundred day simple moving average of $206.34. Nexstar Media Group, Inc. has a 12 month low of $163.46 and a 12 month high of $254.30.

Nexstar Media Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a dividend of $1.86 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $7.44 annualized dividend and a yield of 4.5%. Nexstar Media Group’s payout ratio is presently 159.66%.

Nexstar Media Group 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.