Rhumbline Advisers Decreases Stake in Nexstar Media Group, Inc. $NXST

Rhumbline Advisers trimmed its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 12.7% during the third quarter, Holdings Channel reports. The institutional investor owned 85,383 shares of the company’s stock after selling 12,445 shares during the quarter. Rhumbline Advisers’ holdings in Nexstar Media Group were worth $16,884,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. grew its holdings in Nexstar Media Group by 19.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 27,849 shares of the company’s stock worth $5,507,000 after acquiring an additional 4,616 shares in the last quarter. MQS Management LLC acquired a new stake in shares of Nexstar Media Group in the 3rd quarter valued at $374,000. Oppenheimer & Co. Inc. lifted its position in shares of Nexstar Media Group by 7.9% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 2,723 shares of the company’s stock worth $538,000 after purchasing an additional 200 shares during the last quarter. Linden Thomas Advisory Services LLC grew its stake in shares of Nexstar Media Group by 2.2% during the third quarter. Linden Thomas Advisory Services LLC now owns 4,701 shares of the company’s stock worth $930,000 after purchasing an additional 102 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new position in Nexstar Media Group in the third quarter valued at $213,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

NXST has been the subject of a number of recent analyst reports. Citigroup decreased their price target on Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating for the company in a report on Tuesday, November 25th. Weiss Ratings restated a “hold (c+)” rating on shares of Nexstar Media Group in a research note on Monday, December 29th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Nexstar Media Group from $225.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $225.50.

Nexstar Media Group Price Performance

NXST stock opened at $233.40 on Wednesday. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 2.76. The company has a market capitalization of $7.08 billion, a P/E ratio of 14.47, a PEG ratio of 0.90 and a beta of 0.85. The business has a 50 day simple moving average of $212.53 and a 200-day simple moving average of $202.37. Nexstar Media Group, Inc. has a twelve month low of $141.66 and a twelve month high of $254.30.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be paid a dividend of $1.86 per share. The ex-dividend date is Friday, February 13th. This represents a $7.44 annualized dividend and a dividend yield of 3.2%. Nexstar Media Group’s dividend payout ratio is 46.13%.

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.