UBS Group AG Has $99.32 Million Stock Position in Nexstar Media Group, Inc. $NXST

UBS Group AG reduced its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 13.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 489,149 shares of the company’s stock after selling 73,482 shares during the quarter. UBS Group AG’s holdings in Nexstar Media Group were worth $99,322,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of NXST. Dorsal Capital Management LP acquired a new stake in shares of Nexstar Media Group during the 3rd quarter worth $74,152,000. AQR Capital Management LLC grew its holdings in shares of Nexstar Media Group by 118.1% during the 2nd quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock worth $93,795,000 after purchasing an additional 294,308 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Nexstar Media Group by 157.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 374,027 shares of the company’s stock worth $73,960,000 after purchasing an additional 228,603 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Nexstar Media Group by 63.0% during the 3rd quarter. Principal Financial Group Inc. now owns 488,292 shares of the company’s stock worth $96,557,000 after purchasing an additional 188,695 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Nexstar Media Group by 27.1% during the 2nd quarter. Alliancebernstein L.P. now owns 882,322 shares of the company’s stock worth $152,598,000 after purchasing an additional 187,864 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group Price Performance

Shares of NXST stock opened at $202.37 on Friday. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 3.05. Nexstar Media Group, Inc. has a twelve month low of $146.06 and a twelve month high of $254.30. The company has a market cap of $6.14 billion, a P/E ratio of 68.83, a P/E/G ratio of 0.80 and a beta of 0.97. The business has a fifty day simple moving average of $215.57 and a 200 day simple moving average of $207.78.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be given a $1.86 dividend. The ex-dividend date is Friday, May 15th. This represents a $7.44 annualized dividend and a yield of 3.7%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 253.06%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NXST. Deutsche Bank Aktiengesellschaft increased their target price on Nexstar Media Group from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, March 23rd. Citigroup upgraded Nexstar Media Group from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $252.00 to $220.00 in a research report on Friday, April 10th. Barrington Research restated an “outperform” rating and set a $290.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Wells Fargo & Company upped their price objective on Nexstar Media Group from $250.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Finally, Guggenheim upped their price objective on Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. 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 MarketBeat.com, Nexstar Media Group presently has a consensus rating of “Moderate Buy” and an average target price of $268.33.

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.