Nexstar Media Group, Inc. $NXST is Capital Management Corp VA's 4th Largest Position

Key Points

• Capital Management Corp VA trimmed its Nexstar stake by 18.9% in Q4 to 127,651 shares, making NXST its 4th largest holding and representing about 4.2% of the firm's portfolio (≈0.42% of Nexstar, valued at $25.92M).
• Nexstar announced a quarterly dividend of $1.86 per share (annualized $7.44, 3.7% yield) with an ex-dividend date of May 15 and payment on May 29, despite a high payout ratio of 253%.
• Analysts give NXST a consensus “Moderate Buy” rating with an average price target of $268.33 (six Buys, two Holds), and recent targets range roughly from $220 up to $290.

Capital Management Corp VA trimmed its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 18.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 127,651 shares of the company's stock after selling 29,799 shares during the period. Nexstar Media Group makes up about 4.2% of Capital Management Corp VA's holdings, making the stock its 4th largest holding. Capital Management Corp VA owned approximately 0.42% of Nexstar Media Group worth $25,920,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Torren Management LLC acquired a new position in Nexstar Media Group during the fourth quarter worth $28,000. Measured Wealth Private Client Group LLC acquired a new position in Nexstar Media Group during the third quarter worth $28,000. Root Financial Partners LLC acquired a new position in Nexstar Media Group during the third quarter worth $31,000. WPG Advisers LLC lifted its stake in Nexstar Media Group by 65.7% during the fourth 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. lifted its stake in Nexstar Media Group by 164.5% during the third 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.

Analyst Upgrades and Downgrades

NXST has been the topic of a number of research reports. 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. Citigroup upgraded Nexstar Media Group from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $252.00 to $220.00 in a research note on Friday, April 10th. Wells Fargo & Company upped their price target on Nexstar Media Group from $250.00 to $290.00 and gave the stock an "overweight" rating in a research note on Friday, February 27th. Benchmark decreased their price target on Nexstar Media Group from $300.00 to $250.00 and set a "buy" rating on the stock in a research note on Monday, April 6th. Finally, Guggenheim upped their price target on Nexstar Media Group from $250.00 to $290.00 and gave the stock a "buy" rating in a research note on Friday, February 27th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Nexstar Media Group has a consensus rating of "Moderate Buy" and a consensus price target of $268.33.

Nexstar Media Group Stock Performance

Shares of NXST opened at $202.37 on Friday. The stock has a 50-day simple moving average of $215.57 and a 200-day simple moving average of $207.78. The company has a debt-to-equity ratio of 3.05, a quick ratio of 2.07 and a current ratio of 2.07. The stock has a market capitalization of $6.14 billion, a PE ratio of 68.83, a PEG ratio of 0.80 and a beta of 0.97. Nexstar Media Group, Inc. has a 1 year low of $146.06 and a 1 year high of $254.30.

Nexstar Media Group Announces Dividend

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 issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Friday, May 15th. Nexstar Media Group's payout ratio 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.

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