Vanguard Group Inc. Has $606.15 Million Position in Nexstar Media Group, Inc. $NXST

Vanguard Group Inc. cut its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 0.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,065,367 shares of the company’s stock after selling 12,006 shares during the period. Vanguard Group Inc. owned 0.10% of Nexstar Media Group worth $606,146,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of Nexstar Media Group by 157.2% during the third quarter. JPMorgan Chase & Co. now owns 374,027 shares of the company’s stock worth $73,960,000 after buying an additional 228,603 shares during the period. Abich Financial Wealth Management LLC acquired a new position in shares of Nexstar Media Group in the 3rd quarter valued at about $173,000. Atria Investments Inc boosted its position in shares of Nexstar Media Group by 4.8% during the 3rd quarter. Atria Investments Inc now owns 9,536 shares of the company’s stock valued at $1,886,000 after purchasing an additional 438 shares in the last quarter. Cornerstone Investment Partners LLC grew its stake in Nexstar Media Group by 23.6% during the third quarter. Cornerstone Investment Partners LLC now owns 3,971 shares of the company’s stock worth $785,000 after purchasing an additional 757 shares during the period. Finally, Savvy Advisors Inc. increased its holdings in Nexstar Media Group by 7.8% in the third quarter. Savvy Advisors Inc. now owns 1,570 shares of the company’s stock worth $310,000 after purchasing an additional 114 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Stock Up 0.9%

NXST stock opened at $232.77 on Wednesday. The stock’s 50 day moving average is $215.33 and its 200-day moving average is $204.01. Nexstar Media Group, Inc. has a twelve month low of $141.66 and a twelve month high of $254.30. The firm has a market capitalization of $7.06 billion, a PE ratio of 14.43, a P/E/G ratio of 0.90 and a beta of 0.85. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 2.76.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be issued a $1.86 dividend. The ex-dividend date is Friday, February 13th. This represents a $7.44 annualized dividend and a dividend yield of 3.2%. Nexstar Media Group’s dividend payout ratio is currently 46.13%.

Analyst Upgrades and Downgrades

NXST has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Nexstar Media Group from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Citigroup decreased their price target on shares of 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. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Nexstar Media Group in a report on Monday, December 29th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $225.50.

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.