Victory Capital Management Inc. Has $58.57 Million Position in Nexstar Media Group, Inc. $NXST

Victory Capital Management Inc. raised its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 2.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 296,200 shares of the company’s stock after purchasing an additional 5,762 shares during the quarter. Victory Capital Management Inc.’s holdings in Nexstar Media Group were worth $58,571,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Root Financial Partners LLC bought a new position in Nexstar Media Group during the 3rd quarter worth approximately $31,000. Allworth Financial LP grew its stake in Nexstar Media Group by 617.2% in the second 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. Hantz Financial Services Inc. increased its holdings in shares of Nexstar Media Group by 164.5% during the third quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock valued at $40,000 after acquiring an additional 125 shares in the last quarter. Caldwell Trust Co bought a new stake in shares of Nexstar Media Group during the second quarter valued at approximately $44,000. Finally, First Horizon Corp bought a new position in shares of Nexstar Media Group in the 3rd quarter worth $44,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NXST has been the subject of a number of analyst reports. Guggenheim lifted their price objective on shares of Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a report on Friday, February 27th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Nexstar Media Group from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Barrington Research reiterated an “outperform” rating and issued a $290.00 price objective on shares of Nexstar Media Group in a research note on Tuesday. Citigroup boosted their target price on Nexstar Media Group from $204.00 to $252.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Finally, Benchmark lifted their price objective on Nexstar Media Group from $250.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Six equities research 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $267.43.

Nexstar Media Group Stock Performance

Nexstar Media Group stock opened at $247.75 on Friday. The firm has a fifty day simple moving average of $222.12 and a two-hundred day simple moving average of $206.29. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 3.05. Nexstar Media Group, Inc. has a twelve month low of $141.66 and a twelve month high of $254.30. The company has a market capitalization of $7.51 billion, a PE ratio of 84.27, a P/E/G ratio of 1.00 and a beta of 0.79.

Nexstar Media Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were issued a $1.86 dividend. The ex-dividend date was Friday, February 13th. This represents a $7.44 annualized dividend and a yield of 3.0%. Nexstar Media Group’s dividend payout ratio (DPR) is 253.06%.

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.