Allianz Asset Management GmbH Acquires 84,163 Shares of Nexstar Media Group, Inc. $NXST

Allianz Asset Management GmbH grew its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 43.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 279,336 shares of the company’s stock after purchasing an additional 84,163 shares during the quarter. Allianz Asset Management GmbH’s holdings in Nexstar Media Group were worth $55,236,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. IFP Advisors Inc raised its holdings in shares of Nexstar Media Group by 375.0% in the second quarter. IFP Advisors Inc now owns 152 shares of the company’s stock valued at $26,000 after buying an additional 120 shares during the last quarter. Root Financial Partners LLC acquired a new stake in Nexstar Media Group in the 3rd quarter valued at about $31,000. Allworth Financial LP increased its position in Nexstar Media Group by 617.2% in the 2nd quarter. Allworth Financial LP now owns 208 shares of the company’s stock valued at $36,000 after acquiring an additional 179 shares in the last quarter. First Horizon Corp bought a new position in shares of Nexstar Media Group in the third quarter worth about $44,000. Finally, LRI Investments LLC bought a new position in shares of Nexstar Media Group in the second quarter worth about $43,000. Institutional investors own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Nexstar Media Group in a research note on Monday, December 29th. Citigroup reduced their price objective on Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating on the stock in a report on Tuesday, November 25th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $222.38.

Nexstar Media Group Trading Up 2.7%

NXST opened at $213.69 on Thursday. The firm has a 50 day simple moving average of $205.06 and a 200 day simple moving average of $199.43. Nexstar Media Group, Inc. has a fifty-two week low of $141.66 and a fifty-two week high of $223.36. The company has a market cap of $6.48 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 0.79 and a beta of 0.85. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.87 and a quick ratio of 1.87.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, November 6th. The company reported $2.14 EPS for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.48). The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. Nexstar Media Group had a return on equity of 22.99% and a net margin of 10.02%.Nexstar Media Group’s revenue was down 12.3% on a year-over-year basis. During the same period in the prior year, the firm posted $5.27 EPS. On average, sell-side analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Friday, February 13th. Nexstar Media Group’s dividend payout ratio (DPR) is currently 46.13%.

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.