Horizon Investments LLC Trims Stake in Nexstar Media Group, Inc. $NXST

Key Points

• Horizon Investments LLC cut its Nexstar Media Group stake by 94.4% in the fourth quarter, selling 13,027 shares and leaving it with 770 shares worth about $156,000.
• Institutional ownership remains high, with 95.30% of NXST shares held by hedge funds and other institutions, and several other firms recently adding to or starting positions.
• Wall Street sentiment is generally positive: analysts have a Moderate Buy consensus on Nexstar, with an average price target of $262.17, while the stock recently traded around $202.79 and the company declared a $1.86 quarterly dividend.

Horizon Investments LLC trimmed its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 94.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 770 shares of the company's stock after selling 13,027 shares during the quarter. Horizon Investments LLC's holdings in Nexstar Media Group were worth $156,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NXST. Torren Management LLC purchased a new position in shares of Nexstar Media Group in the 4th quarter worth about $28,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Nexstar Media Group in the 3rd quarter worth about $28,000. Root Financial Partners LLC purchased a new position in shares of Nexstar Media Group in the 3rd quarter worth about $31,000. WPG Advisers LLC boosted its holdings in shares of Nexstar Media Group by 65.7% in the 4th quarter. WPG Advisers LLC now owns 179 shares of the company's stock worth $36,000 after purchasing an additional 71 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its holdings in shares of Nexstar Media Group by 164.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 201 shares of the company's stock worth $40,000 after purchasing an additional 125 shares in the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NXST has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft upped their price objective on Nexstar Media Group from $250.00 to $270.00 and gave the stock a "buy" rating in a report on Monday, March 23rd. Guggenheim upped their price objective on Nexstar Media Group from $250.00 to $290.00 and gave the stock a "buy" rating in a report on Friday, February 27th. Citigroup upgraded Nexstar Media Group from a "neutral" rating to a "buy" rating and cut their price objective for the stock from $252.00 to $220.00 in a report on Friday, April 10th. Barrington Research reiterated an "outperform" rating and issued a $290.00 price objective on shares of Nexstar Media Group in a report on Tuesday, April 28th. Finally, Wells Fargo & Company cut their price objective on Nexstar Media Group from $290.00 to $253.00 and set an "overweight" rating for the company in a report on Friday. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $262.17.

Nexstar Media Group Stock Performance

NASDAQ NXST opened at $202.79 on Monday. Nexstar Media Group, Inc. has a 1-year low of $161.60 and a 1-year high of $254.30. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 3.05. The stock has a 50-day moving average of $213.50 and a 200-day moving average of $207.97. The firm has a market cap of $6.19 billion, a PE ratio of 43.52, a price-to-earnings-growth ratio of 0.80 and a beta of 0.97.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be given a dividend of $1.86 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a yield of 3.7%. Nexstar Media Group's dividend payout ratio is presently 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.

Want to see what other hedge funds are holding NXST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.