Nexstar Media Group, Inc. $NXST Stock Position Lessened by Alliancebernstein L.P.

Alliancebernstein L.P. trimmed its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 23.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 673,610 shares of the company’s stock after selling 208,712 shares during the period. Alliancebernstein L.P. owned approximately 2.22% of Nexstar Media Group worth $133,200,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Root Financial Partners LLC bought a new stake in shares of Nexstar Media Group during the 3rd quarter worth about $31,000. Hantz Financial Services Inc. boosted its holdings in shares of Nexstar Media Group by 164.5% in the third quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock valued at $40,000 after acquiring an additional 125 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Nexstar Media Group by 617.2% in the second quarter. Allworth Financial LP now owns 208 shares of the company’s stock valued at $36,000 after acquiring an additional 179 shares in the last quarter. First Horizon Corp acquired a new position in shares of Nexstar Media Group during the third quarter valued at approximately $44,000. Finally, Caldwell Trust Co acquired a new position in shares of Nexstar Media Group during the second quarter valued at approximately $44,000. 95.30% of the stock is currently owned by institutional investors.

Nexstar Media Group Stock Performance

NXST opened at $236.52 on Tuesday. The firm has a market cap of $7.17 billion, a PE ratio of 80.45, a P/E/G ratio of 0.92 and a beta of 0.79. 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 business has a fifty day simple moving average of $226.39 and a 200-day simple moving average of $207.83. Nexstar Media Group, Inc. has a fifty-two week low of $141.66 and a fifty-two week high of $254.30.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were paid a $1.86 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $7.44 dividend on an annualized basis and a yield of 3.1%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 253.06%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NXST. 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 raised 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. Citigroup lifted their target price on Nexstar Media Group from $204.00 to $252.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Nexstar Media Group in a report on Monday, December 29th. Finally, Barrington Research restated an “outperform” rating and set a $290.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, March 3rd. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Nexstar Media Group has an average rating of “Moderate Buy” and a consensus target price of $278.67.

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.