Advisors Asset Management Inc. Grows Position in Nexstar Media Group, Inc. $NXST

Advisors Asset Management Inc. raised its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 19.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,849 shares of the company’s stock after acquiring an additional 4,616 shares during the period. Advisors Asset Management Inc. owned approximately 0.09% of Nexstar Media Group worth $5,507,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. IFP Advisors Inc lifted its stake in Nexstar Media Group by 375.0% during the 2nd quarter. IFP Advisors Inc now owns 152 shares of the company’s stock worth $26,000 after acquiring an additional 120 shares in the last quarter. Root Financial Partners LLC acquired a new stake in Nexstar Media Group in the 3rd quarter valued at about $31,000. Allworth Financial LP grew its stake in shares of Nexstar Media Group by 617.2% during the second quarter. Allworth Financial LP now owns 208 shares of the company’s stock worth $36,000 after purchasing an additional 179 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in shares of Nexstar Media Group by 164.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock valued at $40,000 after acquiring an additional 125 shares during the last quarter. Finally, Caldwell Trust Co acquired a new stake in shares of Nexstar Media Group during the 2nd quarter worth about $44,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on NXST. Weiss Ratings restated a “hold (c+)” rating on shares of Nexstar Media Group in a research note on Monday, December 29th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Nexstar Media Group from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Citigroup dropped 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 report on Tuesday, November 25th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Nexstar Media Group has a consensus rating of “Moderate Buy” and an average target price of $225.50.

Nexstar Media Group Stock Performance

Shares of NXST opened at $235.28 on Friday. Nexstar Media Group, Inc. has a 52-week low of $141.66 and a 52-week high of $254.30. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 2.76. The company has a market capitalization of $7.14 billion, a PE ratio of 14.59, a P/E/G ratio of 0.91 and a beta of 0.85. The company has a 50-day simple moving average of $210.27 and a 200-day simple moving average of $201.26.

Nexstar Media Group Announces Dividend

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