ING Groep NV Makes New $5.45 Million Investment in Nexstar Media Group, Inc. $NXST

ING Groep NV acquired a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST) during the third quarter, Holdings Channel reports. The institutional investor acquired 27,543 shares of the company’s stock, valued at approximately $5,446,000.

Several other institutional investors have also recently modified their holdings of NXST. IFP Advisors Inc lifted its holdings in shares of Nexstar Media Group by 375.0% during the second quarter. IFP Advisors Inc now owns 152 shares of the company’s stock worth $26,000 after purchasing an additional 120 shares during the period. Root Financial Partners LLC purchased a new position in Nexstar Media Group during the 3rd quarter worth approximately $31,000. Hantz Financial Services Inc. lifted its stake in Nexstar Media Group by 164.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock valued at $40,000 after acquiring an additional 125 shares during the period. Allworth Financial LP lifted its stake in Nexstar Media Group by 617.2% during 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 during the period. Finally, First Horizon Corp purchased a new stake in shares of Nexstar Media Group in the 3rd quarter valued at $44,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Nexstar Media Group Stock Performance

NXST opened at $235.28 on Friday. The firm has a fifty day moving average price of $210.27 and a 200 day moving average price of $201.26. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $254.30. The stock has a market cap of $7.14 billion, a P/E ratio of 14.59, a P/E/G ratio of 0.91 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be given a $1.86 dividend. The ex-dividend date 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 46.13%.

Analyst Ratings Changes

A number of analysts have recently weighed in on NXST shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Nexstar Media Group from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nexstar Media Group in a report on Monday, December 29th. Finally, Citigroup reduced their price objective on 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. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $225.50.

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.