Nexstar Media Group, Inc. $NXST Stock Holdings Lowered by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lessened its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 1.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,388,430 shares of the company’s stock after selling 13,842 shares during the period. Dimensional Fund Advisors LP owned approximately 4.55% of Nexstar Media Group worth $251,092,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NXST. Merit Financial Group LLC grew its position 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 worth $725,000 after purchasing an additional 56 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Nexstar Media Group by 5.2% during the fourth quarter. Truist Financial Corp now owns 1,139 shares of the company’s stock valued at $231,000 after buying an additional 56 shares during the last quarter. WPG Advisers LLC raised its holdings in shares of Nexstar Media Group by 65.7% during the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after buying an additional 71 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Nexstar Media Group by 15.7% during the second quarter. Geneos Wealth Management Inc. now owns 589 shares of the company’s stock worth $102,000 after buying an additional 80 shares during the period. Finally, Trust Point Inc. boosted its position in shares of Nexstar Media Group by 4.1% during the fourth quarter. Trust Point Inc. now owns 2,199 shares of the company’s stock worth $447,000 after buying an additional 87 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Nexstar Media Group Price Performance

Shares of NASDAQ:NXST opened at $181.16 on Friday. Nexstar Media Group, Inc. has a 12 month low of $154.47 and a 12 month high of $254.30. The stock has a market cap of $5.53 billion, a price-to-earnings ratio of 38.88, a PEG ratio of 0.49 and a beta of 0.91. The stock’s 50 day moving average price is $178.73 and its 200 day moving average price is $202.28. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.76 and a quick ratio of 1.76.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, May 15th. Nexstar Media Group’s payout ratio is currently 159.66%.

Insider Buying and Selling

In related news, insider Dana Zimmer sold 876 shares of Nexstar Media Group stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $170.81, for a total transaction of $149,629.56. Following the transaction, the insider directly owned 5,800 shares of the company’s stock, valued at $990,698. The trade was a 13.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Brett Jenkins sold 301 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $170.81, for a total transaction of $51,413.81. Following the completion of the sale, the insider owned 28,798 shares in the company, valued at approximately $4,918,986.38. This trade represents a 1.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 22,813 shares of company stock worth $4,174,731. 7.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on NXST shares. Weiss Ratings restated a “hold (c)” rating on shares of Nexstar Media Group in a research report on Wednesday, May 27th. Benchmark reduced their price target on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Barrington Research reissued an “outperform” rating and issued a $290.00 price target on shares of Nexstar Media Group in a research note on Tuesday, April 28th. Wall Street Zen lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Finally, Wells Fargo & Company lowered their price target on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Nexstar Media Group has an average rating of “Moderate Buy” and a consensus price target of $259.67.

Nexstar Media Group 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.