Icon Advisers Inc. Co. Decreases Stock Position in Nexstar Media Group, Inc. $NXST

Icon Advisers Inc. Co. cut its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 27.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,550 shares of the company’s stock after selling 3,250 shares during the quarter. Icon Advisers Inc. Co.’s holdings in Nexstar Media Group were worth $1,691,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of NXST. Integrated Wealth Concepts LLC bought a new stake in shares of Nexstar Media Group in the 1st quarter worth about $499,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Nexstar Media Group by 49.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,870 shares of the company’s stock worth $2,844,000 after purchasing an additional 5,251 shares during the period. Millennium Management LLC raised its position in Nexstar Media Group by 571.4% in the 1st quarter. Millennium Management LLC now owns 72,650 shares of the company’s stock worth $13,020,000 after purchasing an additional 61,830 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Nexstar Media Group by 14.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 132,809 shares of the company’s stock worth $23,802,000 after purchasing an additional 16,637 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Nexstar Media Group in the first quarter worth about $654,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on NXST shares. Benchmark upped their target price on Nexstar Media Group from $250.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Deutsche Bank Aktiengesellschaft boosted their price objective on Nexstar Media Group from $225.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Barrington Research reaffirmed an “outperform” rating and issued a $290.00 price objective on shares of Nexstar Media Group in a research report on Tuesday. Wells Fargo & Company increased their target price on Nexstar Media Group from $250.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Finally, Citigroup lifted their target price on Nexstar Media Group from $204.00 to $252.00 and gave the stock a “neutral” rating in a research report on Monday, March 2nd. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $267.43.

Nexstar Media Group Stock Down 2.3%

Shares of NXST 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 stock’s fifty day moving average price is $222.12 and its 200 day moving average price is $206.29. The company has a debt-to-equity ratio of 3.05, a current ratio of 2.07 and a quick ratio of 1.87. The company has a market cap of $7.51 billion, a price-to-earnings ratio of 84.27, a price-to-earnings-growth ratio of 1.00 and a beta of 0.79.

Nexstar Media Group Announces Dividend

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

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.