Cinctive Capital Management LP Boosts Holdings in Nexstar Media Group, Inc. $NXST

Cinctive Capital Management LP lifted its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 14.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 25,496 shares of the company’s stock after acquiring an additional 3,180 shares during the quarter. Cinctive Capital Management LP owned 0.08% of Nexstar Media Group worth $5,042,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Root Financial Partners LLC purchased a new position in Nexstar Media Group in the 3rd quarter worth $31,000. Hantz Financial Services Inc. boosted its position in Nexstar Media Group by 164.5% during the third quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock valued at $40,000 after buying an additional 125 shares during the period. Allworth Financial LP boosted its position in Nexstar Media Group by 617.2% during the second quarter. Allworth Financial LP now owns 208 shares of the company’s stock valued at $36,000 after buying an additional 179 shares during the period. First Horizon Corp bought a new position in shares of Nexstar Media Group during the third quarter valued at about $44,000. Finally, Caldwell Trust Co bought a new position in shares of Nexstar Media Group during the second quarter valued at about $44,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Stock Performance

Nexstar Media Group stock opened at $233.61 on Monday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 3.05. The firm has a market cap of $7.09 billion, a P/E ratio of 79.46, a P/E/G ratio of 0.92 and a beta of 0.79. Nexstar Media Group, Inc. has a 1-year low of $141.66 and a 1-year high of $254.30. The firm has a 50-day moving average of $225.86 and a 200-day moving average of $207.58.

Nexstar Media Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were issued a $1.86 dividend. The ex-dividend date was Friday, February 13th. This represents a $7.44 annualized dividend and a yield of 3.2%. Nexstar Media Group’s dividend payout ratio (DPR) is 253.06%.

Analyst Upgrades and Downgrades

NXST has been the subject of a number of recent research reports. Guggenheim boosted their target price 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. Wells Fargo & Company raised their price target on Nexstar Media Group from $250.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Deutsche Bank Aktiengesellschaft lifted their price target 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. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nexstar Media Group in a research report on Monday, December 29th. Finally, Benchmark increased their price objective on Nexstar Media Group from $250.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $278.67.

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.