UBS Group AG Sells 73,482 Shares of Nexstar Media Group, Inc. $NXST

Key Points

• UBS Group AG trimmed its Nexstar stake by 13.1% in Q4, selling 73,482 shares and now holds 489,149 shares (about 1.61% of the company) valued at roughly $99.3 million.
• Nexstar declared a quarterly dividend of $1.86 (ex-dividend May 15, payable May 29), which annualizes to $7.44 for a 3.7% yield but reflects a very high payout ratio of 253%.
• Wall Street sentiment is mostly positive—six Buy vs. two Hold ratings—giving an average rating of "Moderate Buy" and an average target price of $268.33, with several firms raising targets to $290.

UBS Group AG lessened its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 13.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 489,149 shares of the company's stock after selling 73,482 shares during the period. UBS Group AG owned 1.61% of Nexstar Media Group worth $99,322,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. CWA Asset Management Group LLC raised its stake in Nexstar Media Group by 1.7% in the 4th quarter. CWA Asset Management Group LLC now owns 3,103 shares of the company's stock valued at $630,000 after acquiring an additional 51 shares during the period. Merit Financial Group LLC raised its stake in Nexstar Media Group by 1.6% in the 4th quarter. Merit Financial Group LLC now owns 3,571 shares of the company's stock valued at $725,000 after acquiring an additional 56 shares during the period. Verdence Capital Advisors LLC raised its stake in Nexstar Media Group by 0.6% in the 3rd quarter. Verdence Capital Advisors LLC now owns 11,647 shares of the company's stock valued at $2,222,000 after acquiring an additional 68 shares during the period. WPG Advisers LLC raised its stake in Nexstar Media Group by 65.7% in the 4th quarter. WPG Advisers LLC now owns 179 shares of the company's stock valued at $36,000 after acquiring an additional 71 shares during the period. Finally, Geneos Wealth Management Inc. raised its stake in Nexstar Media Group by 15.7% in the 2nd quarter. Geneos Wealth Management Inc. now owns 589 shares of the company's stock valued at $102,000 after acquiring an additional 80 shares during the period. Institutional investors own 95.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company increased their price target on Nexstar Media Group from $250.00 to $290.00 and gave the company an "overweight" rating in a research note on Friday, February 27th. Guggenheim increased their price target on Nexstar Media Group from $250.00 to $290.00 and gave the company a "buy" rating in a research note on Friday, February 27th. Barrington Research restated an "outperform" rating and issued a $290.00 price target on shares of Nexstar Media Group in a research note on Tuesday, April 28th. Citigroup raised Nexstar Media Group from a "neutral" rating to a "buy" rating and decreased their price objective for the company from $252.00 to $220.00 in a report on Friday, April 10th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Nexstar Media Group from $250.00 to $270.00 and gave the stock a "buy" rating in a research report on Monday, March 23rd. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $268.33.

Nexstar Media Group Stock Down 2.8%

NXST stock opened at $202.37 on Friday. The company has a debt-to-equity ratio of 3.05, a current ratio of 2.07 and a quick ratio of 2.07. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 68.83, a PEG ratio of 0.80 and a beta of 0.97. The business's fifty day moving average price is $215.57 and its two-hundred day moving average price is $207.78. Nexstar Media Group, Inc. has a fifty-two week low of $146.06 and a fifty-two week high of $254.30.

Nexstar Media Group Dividend Announcement

The company also recently disclosed 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 is Friday, May 15th. This represents a $7.44 annualized dividend and a yield of 3.7%. Nexstar Media Group's dividend payout ratio (DPR) 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.

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