Nexstar Media Group, Inc. $NXST Stake Increased by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 157.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 374,027 shares of the company’s stock after buying an additional 228,603 shares during the quarter. JPMorgan Chase & Co.’s holdings in Nexstar Media Group were worth $73,960,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Abich Financial Wealth Management LLC acquired a new stake in Nexstar Media Group during the 3rd quarter worth about $173,000. Atria Investments Inc lifted its position in shares of Nexstar Media Group by 4.8% in the third quarter. Atria Investments Inc now owns 9,536 shares of the company’s stock worth $1,886,000 after purchasing an additional 438 shares in the last quarter. Cornerstone Investment Partners LLC boosted its holdings in shares of Nexstar Media Group by 23.6% during the third quarter. Cornerstone Investment Partners LLC now owns 3,971 shares of the company’s stock worth $785,000 after purchasing an additional 757 shares during the period. Savvy Advisors Inc. grew its position in Nexstar Media Group by 7.8% during the third quarter. Savvy Advisors Inc. now owns 1,570 shares of the company’s stock valued at $310,000 after purchasing an additional 114 shares in the last quarter. Finally, Caprock Group LLC acquired a new position in Nexstar Media Group in the 3rd quarter valued at approximately $338,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group Trading Up 0.9%

Shares of NASDAQ:NXST opened at $232.77 on Wednesday. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 2.76. The stock has a market capitalization of $7.06 billion, a PE ratio of 14.43, a P/E/G ratio of 0.90 and a beta of 0.85. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $254.30. The firm has a fifty day moving average price of $215.33 and a 200 day moving average price of $204.01.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be issued a dividend of $1.86 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.2%. Nexstar Media Group’s dividend payout ratio is currently 46.13%.

Analysts Set New Price Targets

NXST has been the subject of a number of research reports. Citigroup decreased their target price on shares of Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating for the company in a research note on Tuesday, November 25th. Weiss Ratings reissued a “hold (c+)” rating on shares of Nexstar Media Group in a research report on Monday, December 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Nexstar Media Group from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $225.50.

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.