Channing Capital Management LLC Has $70.54 Million Stock Holdings in Nexstar Media Group, Inc. $NXST

Channing Capital Management LLC decreased its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 26.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 356,709 shares of the company’s stock after selling 130,171 shares during the quarter. Nexstar Media Group comprises approximately 1.9% of Channing Capital Management LLC’s holdings, making the stock its 29th largest position. Channing Capital Management LLC owned about 1.18% of Nexstar Media Group worth $70,536,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in NXST. Advyzon Investment Management LLC bought a new stake in shares of Nexstar Media Group in the third quarter valued at approximately $207,000. First National Bank of Omaha bought a new position in Nexstar Media Group during the third quarter worth $1,633,000. GSA Capital Partners LLP acquired a new position in Nexstar Media Group during the 3rd quarter valued at $285,000. Merit Financial Group LLC boosted its holdings in Nexstar Media Group by 1.7% in the 3rd quarter. Merit Financial Group LLC now owns 3,515 shares of the company’s stock valued at $695,000 after purchasing an additional 59 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Nexstar Media Group by 157.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 374,027 shares of the company’s stock worth $73,960,000 after purchasing an additional 228,603 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NXST shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nexstar Media Group in a research report on Monday, December 29th. Deutsche Bank Aktiengesellschaft raised their price objective on Nexstar Media Group from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Finally, Citigroup decreased their price objective on Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating on the stock in a report on Tuesday, November 25th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $225.50.

Nexstar Media Group Stock Down 0.8%

Shares of NXST opened at $231.44 on Friday. 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 50-day moving average price of $214.20 and a two-hundred day moving average price of $203.24. The stock has a market cap of $7.02 billion, a price-to-earnings ratio of 14.35, a P/E/G ratio of 0.90 and a beta of 0.85. Nexstar Media Group, Inc. has a 12 month low of $141.66 and a 12 month high of $254.30.

Nexstar Media Group Dividend Announcement

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