Nexstar Media Group, Inc. $NXST Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 4.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,925,142 shares of the company's stock after selling 140,225 shares during the quarter. Vanguard Group Inc. owned about 9.64% of Nexstar Media Group worth $593,950,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Measured Wealth Private Client Group LLC acquired a new position in shares of Nexstar Media Group during the third quarter worth about $28,000. Root Financial Partners LLC acquired a new position in shares of Nexstar Media Group during the third quarter worth about $31,000. WPG Advisers LLC increased its stake in shares of 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 acquiring an additional 71 shares during the period. Hantz Financial Services Inc. increased its stake in shares of 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 acquiring an additional 125 shares during the period. Finally, First Horizon Corp acquired a new position in shares of Nexstar Media Group during the third quarter worth about $44,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Nexstar Media Group Price Performance

Nexstar Media Group stock opened at $199.19 on Tuesday. Nexstar Media Group, Inc. has a 52 week low of $149.59 and a 52 week high of $254.30. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 3.05. The firm's 50-day simple moving average is $215.57 and its 200 day simple moving average is $207.85. The firm has a market capitalization of $6.04 billion, a PE ratio of 67.75, a P/E/G ratio of 0.80 and a beta of 0.97.

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 $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, May 15th. Nexstar Media Group's dividend payout ratio is 253.06%.

Analyst Upgrades and Downgrades

NXST has been the subject of several research analyst reports. 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 research report on Friday, April 10th. Benchmark reduced their price objective on shares of Nexstar Media Group from $300.00 to $250.00 and set a "buy" rating for the company in a research note on Monday, April 6th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Nexstar Media Group from $250.00 to $270.00 and gave the stock a "buy" rating in a research report on Monday, March 23rd. Barrington Research reaffirmed an "outperform" rating and issued a $290.00 target price on shares of Nexstar Media Group in a report on Tuesday, April 28th. Finally, Wells Fargo & Company lifted their price target on shares of Nexstar Media Group from $250.00 to $290.00 and gave the company an "overweight" rating in a research report on Friday, February 27th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $268.33.

Nexstar Media Group Profile

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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