Nexstar Media Group, Inc. $NXST Shares Sold by LSV Asset Management

LSV Asset Management decreased its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 3.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,157,545 shares of the company’s stock after selling 36,406 shares during the quarter. LSV Asset Management’s holdings in Nexstar Media Group were worth $228,893,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NXST. Alliancebernstein L.P. lifted its holdings 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 purchasing an additional 187,864 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Nexstar Media Group by 13.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 642,609 shares of the company’s stock valued at $127,070,000 after purchasing an additional 75,228 shares during the period. AQR Capital Management LLC boosted its holdings 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 worth $93,795,000 after purchasing an additional 294,308 shares during the period. Principal Financial Group Inc. grew its position in 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 purchasing an additional 188,695 shares in the last quarter. Finally, Channing Capital Management LLC increased its stake in shares of Nexstar Media Group by 0.4% in the second quarter. Channing Capital Management LLC now owns 486,880 shares of the company’s stock worth $84,206,000 after acquiring an additional 2,155 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Nexstar Media Group Stock Performance

NXST stock opened at $240.45 on Thursday. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 2.76. The company has a market cap of $7.29 billion, a P/E ratio of 14.91, a price-to-earnings-growth ratio of 0.93 and a beta of 0.85. The business’s fifty day moving average is $209.36 and its 200-day moving average is $201.02. Nexstar Media Group, Inc. has a twelve month low of $141.66 and a twelve month high of $254.30.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be paid a $1.86 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $7.44 dividend on an annualized basis and a yield of 3.1%. Nexstar Media Group’s dividend payout ratio is presently 46.13%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NXST. Citigroup dropped their price target on shares of Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft raised their target price on Nexstar Media Group from $225.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nexstar Media Group in a research report on Monday, December 29th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $225.50.

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.