Citigroup Inc. Has $2.54 Million Stock Position in Nexstar Media Group, Inc. $NXST

Citigroup Inc. reduced its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 37.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,842 shares of the company’s stock after selling 7,604 shares during the quarter. Citigroup Inc.’s holdings in Nexstar Media Group were worth $2,539,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Root Financial Partners LLC purchased a new stake in shares of Nexstar Media Group in the third quarter worth approximately $31,000. Allworth Financial LP boosted its holdings 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 during the period. Hantz Financial Services Inc. grew 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 purchasing an additional 125 shares in the last quarter. Caldwell Trust Co acquired a new position in Nexstar Media Group in the 2nd quarter valued at approximately $44,000. Finally, First Horizon Corp acquired a new position in Nexstar Media Group in the 3rd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Trading Down 2.3%

Shares of Nexstar Media Group stock opened at $247.75 on Friday. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $254.30. The company’s fifty day simple moving average is $222.12 and its 200-day simple moving average is $206.29. The company has a market cap of $7.51 billion, a price-to-earnings ratio of 84.27, a PEG ratio of 1.00 and a beta of 0.79. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 3.05.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were issued a dividend of $1.86 per share. The ex-dividend date was Friday, February 13th. This represents a $7.44 annualized dividend and a dividend yield of 3.0%. Nexstar Media Group’s payout ratio is presently 253.06%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NXST shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Nexstar Media Group from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Barrington Research reiterated an “outperform” rating and set a $290.00 price objective on shares of Nexstar Media Group in a report on Tuesday. Citigroup lifted their price objective on Nexstar Media Group from $204.00 to $252.00 and gave the company a “neutral” rating in a research report on Monday, March 2nd. Wells Fargo & Company boosted their target price 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. Finally, Guggenheim upped their target price on Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Nexstar Media Group has a consensus rating of “Moderate Buy” and an average price target of $267.43.

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.