Vanguard Group Inc. Has $606.15 Million Holdings in Nexstar Media Group, Inc. $NXST

Vanguard Group Inc. lessened its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 0.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,065,367 shares of the company’s stock after selling 12,006 shares during the quarter. Vanguard Group Inc. owned approximately 10.11% of Nexstar Media Group worth $606,146,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of NXST. Integrated Wealth Concepts LLC acquired a new position in shares of Nexstar Media Group in the 1st quarter valued at $499,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Nexstar Media Group by 49.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,870 shares of the company’s stock valued at $2,844,000 after buying an additional 5,251 shares in the last quarter. Millennium Management LLC raised its stake in Nexstar Media Group by 571.4% during the 1st quarter. Millennium Management LLC now owns 72,650 shares of the company’s stock worth $13,020,000 after buying an additional 61,830 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Nexstar Media Group by 14.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 132,809 shares of the company’s stock worth $23,802,000 after acquiring an additional 16,637 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Nexstar Media Group in the first quarter valued at about $654,000. 95.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Citigroup cut 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. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nexstar Media Group in a research note on Monday, December 29th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Nexstar Media Group from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $225.50.

Nexstar Media Group Stock Performance

Shares of Nexstar Media Group stock opened at $232.77 on Wednesday. The company has a 50 day moving average of $215.33 and a 200-day moving average of $204.01. The company has a market cap of $7.06 billion, a PE ratio of 14.43, a price-to-earnings-growth ratio of 0.90 and a beta of 0.85. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 2.76. Nexstar Media Group, Inc. has a 1-year low of $141.66 and a 1-year high of $254.30.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be paid a dividend of $1.86 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $7.44 annualized dividend and a dividend yield of 3.2%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 46.13%.

Nexstar Media Group Company 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.