Nexstar Media Group, Inc. $NXST Shares Acquired by Vestcor Inc

Vestcor Inc boosted its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 36.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 9,058 shares of the company’s stock after buying an additional 2,412 shares during the period. Vestcor Inc’s holdings in Nexstar Media Group were worth $1,791,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in Nexstar Media Group by 3.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,391,323 shares of the company’s stock valued at $275,121,000 after purchasing an additional 42,391 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Nexstar Media Group by 27.1% during the 2nd quarter. Alliancebernstein L.P. now owns 882,322 shares of the company’s stock worth $152,598,000 after buying an additional 187,864 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Nexstar Media Group by 13.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 642,609 shares of the company’s stock worth $127,070,000 after buying an additional 75,228 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Nexstar Media Group by 118.1% in the 2nd quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock worth $93,795,000 after buying an additional 294,308 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Nexstar Media Group by 63.0% in the 3rd quarter. Principal Financial Group Inc. now owns 488,292 shares of the company’s stock valued at $96,557,000 after acquiring an additional 188,695 shares during the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on NXST shares. Citigroup lifted their target price on shares of Nexstar Media Group from $204.00 to $252.00 and gave the stock a “neutral” rating in a research report on Monday, March 2nd. Benchmark raised their price objective on shares of Nexstar Media Group from $250.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Barrington Research reaffirmed an “outperform” rating and issued a $290.00 target price on shares of Nexstar Media Group in a research note on Tuesday, March 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nexstar Media Group in a report on Monday, December 29th. Finally, Deutsche Bank Aktiengesellschaft boosted 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. Five investment 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 stock presently has an average rating of “Moderate Buy” and an average target price of $278.67.

Nexstar Media Group Stock Performance

NASDAQ:NXST opened at $245.22 on Thursday. The company has a debt-to-equity ratio of 3.05, a current ratio of 2.07 and a quick ratio of 2.07. The firm has a market cap of $7.44 billion, a PE ratio of 83.41, a P/E/G ratio of 0.97 and a beta of 0.79. The firm has a 50 day simple moving average of $224.64 and a 200-day simple moving average of $207.14. 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 was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, February 13th. Nexstar Media Group’s dividend payout ratio is currently 253.06%.

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.