Envestnet Asset Management Inc. Boosts Stake in Nexstar Media Group, Inc. $NXST

Envestnet Asset Management Inc. boosted its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 5.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,334 shares of the company’s stock after buying an additional 4,609 shares during the period. Envestnet Asset Management Inc. owned 0.31% of Nexstar Media Group worth $18,456,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Integrated Wealth Concepts LLC purchased a new stake in Nexstar Media Group in the 1st quarter valued at $499,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Nexstar Media Group by 49.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,870 shares of the company’s stock valued at $2,844,000 after buying an additional 5,251 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Nexstar Media Group by 571.4% during the first quarter. Millennium Management LLC now owns 72,650 shares of the company’s stock worth $13,020,000 after buying an additional 61,830 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Nexstar Media Group by 14.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 132,809 shares of the company’s stock worth $23,802,000 after buying an additional 16,637 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Nexstar Media Group in the 1st quarter valued at about $654,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nexstar Media Group in a research note on Monday, December 29th. Deutsche Bank Aktiengesellschaft increased their target price on Nexstar Media Group from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Finally, Citigroup decreased their price target on Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 25th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.50.

Nexstar Media Group Stock Down 1.7%

Shares of NASDAQ:NXST opened at $231.18 on Friday. The stock has a 50-day simple moving average of $211.12 and a 200-day simple moving average of $201.62. The stock has a market capitalization of $7.01 billion, a P/E ratio of 14.33, a PEG ratio of 0.90 and a beta of 0.85. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $254.30. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.87 and a current ratio of 1.87.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, February 13th. Nexstar Media Group’s dividend payout ratio is currently 46.13%.

Nexstar Media Group Company 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.