Vanguard Group Inc. Reduces Position in Nexstar Media Group, Inc. $NXST

Vanguard Group Inc. decreased its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,925,142 shares of the company’s stock after selling 140,225 shares during the period. Vanguard Group Inc. owned 0.10% of Nexstar Media Group worth $593,950,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in NXST. Dorsal Capital Management LP acquired a new stake in shares of Nexstar Media Group during the third quarter valued at $74,152,000. AQR Capital Management LLC boosted its stake in shares of Nexstar Media Group by 118.1% during the second quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock valued at $93,795,000 after acquiring an additional 294,308 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Nexstar Media Group by 157.2% during the third quarter. JPMorgan Chase & Co. now owns 374,027 shares of the company’s stock valued at $73,960,000 after acquiring an additional 228,603 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Nexstar Media Group by 63.0% during the third quarter. Principal Financial Group Inc. now owns 488,292 shares of the company’s stock valued at $96,557,000 after acquiring an additional 188,695 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Nexstar Media Group by 27.1% during the second quarter. Alliancebernstein L.P. now owns 882,322 shares of the company’s stock valued at $152,598,000 after acquiring an additional 187,864 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NXST. Citigroup raised Nexstar Media Group from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $252.00 to $220.00 in a research note on Friday, April 10th. Deutsche Bank Aktiengesellschaft increased their price objective on Nexstar Media Group from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, March 23rd. Barrington Research reaffirmed an “outperform” rating and set a $290.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, April 28th. Benchmark decreased their price objective on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Finally, Guggenheim raised their price target on Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Nexstar Media Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $268.33.

Nexstar Media Group Stock Performance

Nexstar Media Group stock opened at $199.19 on Tuesday. The stock’s 50-day moving average is $215.57 and its 200-day moving average is $207.85. The company has a market cap of $6.04 billion, a price-to-earnings ratio of 67.75, a price-to-earnings-growth ratio of 0.80 and a beta of 0.97. The company has a debt-to-equity ratio of 3.05, a current ratio of 2.07 and a quick ratio of 2.07. Nexstar Media Group, Inc. has a 12 month low of $149.59 and a 12 month high of $254.30.

Nexstar Media Group Dividend Announcement

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

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.