Allianz Asset Management GmbH Buys 79,426 Shares of Nexstar Media Group, Inc. $NXST

Allianz Asset Management GmbH increased its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 28.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 358,762 shares of the company’s stock after acquiring an additional 79,426 shares during the quarter. Allianz Asset Management GmbH’s holdings in Nexstar Media Group were worth $72,847,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Measured Wealth Private Client Group LLC bought a new position in Nexstar Media Group in the 3rd quarter valued at $28,000. Torren Management LLC bought a new position in Nexstar Media Group in the 4th quarter valued at $28,000. WPG Advisers LLC grew its stake in Nexstar Media Group by 65.7% in the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after purchasing an additional 71 shares during the period. Hantz Financial Services Inc. grew its stake in 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 purchasing an additional 125 shares during the period. Finally, State of Wyoming bought a new position in Nexstar Media Group in the 2nd quarter valued at $54,000. Institutional investors own 95.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on NXST. Zacks Research upgraded Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft dropped their price target on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Barrington Research reiterated an “outperform” rating and set a $290.00 price target on shares of Nexstar Media Group in a research note on Tuesday, April 28th. Wells Fargo & Company cut their price target on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Finally, Citigroup upgraded Nexstar Media Group from a “neutral” rating to a “buy” rating and cut their price target for the stock from $252.00 to $220.00 in a research note on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Nexstar Media Group presently has a consensus rating of “Buy” and a consensus target price of $259.67.

Nexstar Media Group Stock Down 3.4%

NXST stock opened at $173.41 on Thursday. The company has a debt-to-equity ratio of 5.53, a quick ratio of 1.76 and a current ratio of 1.76. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of 37.21, a PEG ratio of 0.45 and a beta of 0.91. Nexstar Media Group, Inc. has a fifty-two week low of $164.00 and a fifty-two week high of $254.30. The stock has a fifty day moving average of $191.36 and a 200-day moving average of $207.47.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a dividend of $1.86 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a yield of 4.3%. Nexstar Media Group’s dividend payout ratio is 159.66%.

Insider Buying and Selling at Nexstar Media Group

In related news, EVP Blake Russell sold 319 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $182.42, for a total transaction of $58,191.98. Following the sale, the executive vice president owned 27,390 shares of the company’s stock, valued at approximately $4,996,483.80. This represents a 1.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dana Zimmer sold 433 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $182.42, for a total value of $78,987.86. Following the sale, the insider directly owned 3,777 shares in the company, valued at $689,000.34. This trade represents a 10.29% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 13,798 shares of company stock worth $2,608,489 in the last three months. 6.70% of the stock is currently owned by corporate insiders.

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.