Assetmark Inc. Sells 2,252 Shares of Nexstar Media Group, Inc. $NXST

Assetmark Inc. lowered its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 4.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,050 shares of the company’s stock after selling 2,252 shares during the quarter. Assetmark Inc. owned about 0.17% of Nexstar Media Group worth $10,292,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of NXST. Claret Asset Management Corp increased its position in Nexstar Media Group by 4.1% during the second quarter. Claret Asset Management Corp now owns 1,348 shares of the company’s stock worth $233,000 after buying an additional 53 shares during the last quarter. Merit Financial Group LLC boosted its stake in shares of Nexstar Media Group by 1.7% during the 3rd quarter. Merit Financial Group LLC now owns 3,515 shares of the company’s stock worth $695,000 after acquiring an additional 59 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of Nexstar Media Group by 0.6% during 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 last quarter. Geneos Wealth Management Inc. raised its stake in shares of 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 in the last quarter. Finally, Drive Wealth Management LLC lifted its holdings in Nexstar Media Group by 6.9% in the 2nd quarter. Drive Wealth Management LLC now owns 1,254 shares of the company’s stock worth $217,000 after purchasing an additional 81 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NXST shares. Deutsche Bank Aktiengesellschaft increased their price target on Nexstar Media Group from $225.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Citigroup lowered their target price on shares of 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. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Nexstar Media Group in a research report on Monday, December 29th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $225.50.

Nexstar Media Group Stock Performance

NASDAQ:NXST opened at $231.18 on Monday. The firm’s 50-day moving average is $211.12 and its 200-day moving average is $201.72. The company has a market cap of $7.01 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 0.90 and a beta of 0.85. 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, Inc. has a 52-week low of $141.66 and a 52-week high of $254.30.

Nexstar Media Group Dividend Announcement

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