LSV Asset Management Lowers Position in Nexstar Media Group, Inc. $NXST

LSV Asset Management lessened its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 3.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,157,545 shares of the company’s stock after selling 36,406 shares during the quarter. LSV Asset Management owned about 3.82% of Nexstar Media Group worth $228,893,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its holdings in Nexstar Media Group by 43.3% in the 3rd quarter. Pacer Advisors Inc. now owns 430,913 shares of the company’s stock valued at $85,209,000 after purchasing an additional 130,283 shares during the last quarter. Momentum Wealth Planning LLC purchased a new stake in shares of Nexstar Media Group in the 2nd quarter valued at approximately $2,798,000. D.A. Davidson & CO. increased its holdings in Nexstar Media Group by 12.3% in the 2nd quarter. D.A. Davidson & CO. now owns 2,024 shares of the company’s stock valued at $350,000 after purchasing an additional 222 shares during the last quarter. Massachusetts Financial Services Co. MA raised 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 buying an additional 75,228 shares during the period. Finally, Principal Financial Group Inc. lifted its position 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 worth $96,557,000 after purchasing an additional 188,695 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NXST. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nexstar Media Group in a research report on Monday, December 29th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Nexstar Media Group from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Citigroup decreased their price objective on Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating for the company in a research report on Tuesday, November 25th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $225.50.

Nexstar Media Group Stock Performance

Shares of NASDAQ:NXST opened at $240.45 on Thursday. Nexstar Media Group, Inc. has a 12 month low of $141.66 and a 12 month high of $254.30. The business has a 50-day moving average of $209.36 and a two-hundred day moving average of $201.02. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.87 and a quick ratio of 1.87. The firm has a market capitalization of $7.29 billion, a PE ratio of 14.91, a P/E/G ratio of 0.93 and a beta of 0.85.

Nexstar Media Group Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Friday, February 13th. This represents a $7.44 annualized dividend and a dividend yield of 3.1%. Nexstar Media Group’s payout ratio 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.