Fideuram Intesa Sanpaolo Private Banking S.P.A. Acquires New Position in Nexstar Media Group, Inc. $NXST

Key Points

• Fideuram Intesa Sanpaolo Private Banking opened a new position in Nexstar Media Group in the fourth quarter, buying 5,298 shares valued at about $1.08 million.
• Other institutional investors have also been active in NXST, and institutions now own 95.3% of the company’s shares, highlighting heavy institutional interest.
• Analysts remain generally constructive on Nexstar, with an average “Buy” rating and a consensus price target of $259.67, while the company also recently declared a $1.86 quarterly dividend (3.9% annualized yield).

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,298 shares of the company's stock, valued at approximately $1,076,000.

A number of other institutional investors have also modified their holdings of the business. Dimensional Fund Advisors LP grew its position in shares of Nexstar Media Group by 3.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,391,323 shares of the company's stock valued at $275,121,000 after buying an additional 42,391 shares during the last quarter. Alliancebernstein L.P. boosted its position in Nexstar Media Group by 27.1% during the 2nd quarter. Alliancebernstein L.P. now owns 882,322 shares of the company's stock valued at $152,598,000 after purchasing an additional 187,864 shares during the period. AQR Capital Management LLC boosted its position in Nexstar Media Group by 118.1% during the 2nd quarter. AQR Capital Management LLC now owns 543,612 shares of the company's stock valued at $93,795,000 after purchasing an additional 294,308 shares during the period. Principal Financial Group Inc. boosted its position in Nexstar Media Group by 63.0% during the 3rd quarter. Principal Financial Group Inc. now owns 488,292 shares of the company's stock valued at $96,557,000 after purchasing an additional 188,695 shares during the period. Finally, Dorsal Capital Management LP acquired a new position in Nexstar Media Group during the 3rd quarter valued at approximately $74,152,000. Institutional investors own 95.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NXST. Wall Street Zen upgraded Nexstar Media Group from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. Wells Fargo & Company reduced their price objective on Nexstar Media Group from $290.00 to $253.00 and set an "overweight" rating for the company in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Nexstar Media Group from $270.00 to $255.00 and set a "buy" rating on the stock in a research report on Monday, May 11th. Barrington Research reiterated an "outperform" rating and issued a $290.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Finally, Zacks Research upgraded shares of Nexstar Media Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $259.67.

Nexstar Media Group Stock Up 0.0%

NXST opened at $189.42 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 debt-to-equity ratio of 5.53, a current ratio of 1.76 and a quick ratio of 1.76. The stock has a market cap of $5.78 billion, a P/E ratio of 40.65, a P/E/G ratio of 0.48 and a beta of 0.97. The stock's 50 day moving average price is $203.43 and its 200 day moving average price is $208.16.

Nexstar Media Group Announces Dividend

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

Insider Transactions at Nexstar Media Group

In related news, insider Dan Lanzano sold 237 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $196.37, for a total value of $46,539.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sean Compton sold 5,000 shares of the stock in a transaction dated 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 represents a 30.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 6.70% of the company's stock.

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.

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