Victory Capital Management Inc. Has $58.57 Million Position in Nexstar Media Group, Inc. $NXST

Victory Capital Management Inc. lifted its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 2.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 296,200 shares of the company’s stock after buying an additional 5,762 shares during the period. Victory Capital Management Inc. owned about 0.98% of Nexstar Media Group worth $58,571,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of NXST. Root Financial Partners LLC bought a new stake in Nexstar Media Group during the third quarter worth about $31,000. Hantz Financial Services Inc. raised 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 worth $40,000 after acquiring an additional 125 shares in the last quarter. Allworth Financial LP increased its stake in shares of Nexstar Media Group by 617.2% during the 2nd quarter. Allworth Financial LP now owns 208 shares of the company’s stock worth $36,000 after purchasing an additional 179 shares during the last quarter. First Horizon Corp bought a new stake in shares of Nexstar Media Group in the 3rd quarter valued at about $44,000. Finally, Caldwell Trust Co acquired a new stake in Nexstar Media Group in the 2nd quarter valued at about $44,000. Institutional investors own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

NXST has been the topic of a number of recent analyst reports. Benchmark boosted their price target on Nexstar Media Group from $250.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Deutsche Bank Aktiengesellschaft increased their price target on Nexstar Media Group from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Wells Fargo & Company lifted their price objective on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Barrington Research reiterated an “outperform” rating and issued a $290.00 price objective on shares of Nexstar Media Group in a report on Tuesday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nexstar Media Group in a report on Monday, December 29th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and an average target price of $267.43.

Nexstar Media Group Stock Down 2.3%

NASDAQ NXST opened at $247.75 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 3.05. 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 50 day moving average of $222.12 and a 200-day moving average of $206.29. Nexstar Media Group, Inc. has a 1-year low of $141.66 and a 1-year high of $254.30.

Nexstar Media Group Announces Dividend

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

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.