LSV Asset Management Has $218.68 Million Stock Holdings in Nexstar Media Group, Inc. $NXST

LSV Asset Management cut its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,076,953 shares of the company’s stock after selling 80,592 shares during the quarter. LSV Asset Management owned 3.55% of Nexstar Media Group worth $218,675,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in Nexstar Media Group by 3.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,391,323 shares of the company’s stock worth $275,121,000 after buying an additional 42,391 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Nexstar Media Group by 27.1% during the second quarter. Alliancebernstein L.P. now owns 882,322 shares of the company’s stock worth $152,598,000 after purchasing an additional 187,864 shares during the period. AQR Capital Management LLC lifted its stake in Nexstar Media Group by 118.1% during the second quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock worth $93,795,000 after purchasing an additional 294,308 shares during the period. Principal Financial Group Inc. lifted its stake in 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 during the period. Finally, Dorsal Capital Management LP bought a new position in Nexstar Media Group during the third quarter worth about $74,152,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Dan Lanzano sold 237 shares of Nexstar Media Group stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $196.37, for a total value of $46,539.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sean Compton sold 5,000 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $196.00, for a total transaction of $980,000.00. Following the completion of the transaction, the insider owned 11,252 shares of the company’s stock, valued at $2,205,392. This trade represents a 30.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 6.70% of the company’s stock.

Nexstar Media Group Stock Down 0.4%

Shares of NXST opened at $188.67 on Friday. Nexstar Media Group, Inc. has a 12 month low of $164.00 and a 12 month high of $254.30. The company has a 50-day moving average price of $202.30 and a two-hundred day moving average price of $208.02. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53. The stock has a market cap of $5.76 billion, a price-to-earnings ratio of 40.49, a P/E/G ratio of 0.48 and a beta of 0.97.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be paid a $1.86 dividend. The ex-dividend date is Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.9%. Nexstar Media Group’s payout ratio is 159.66%.

Wall Street Analyst Weigh In

A number of brokerages have commented on NXST. Citigroup upgraded shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and cut their price target for the stock from $252.00 to $220.00 in a research note on Friday, April 10th. Guggenheim raised their price target on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Barrington Research restated an “outperform” rating and set a $290.00 price target on shares of Nexstar Media Group in a research note on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Finally, Wells Fargo & Company cut their price target on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Nexstar Media Group has an average rating of “Buy” and a consensus price target of $259.67.

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.