Vestcor Inc Increases Stock Position in Nexstar Media Group, Inc. $NXST

Vestcor Inc boosted its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 36.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,058 shares of the company’s stock after purchasing an additional 2,412 shares during the quarter. Vestcor Inc’s holdings in Nexstar Media Group were worth $1,791,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in Nexstar Media Group by 3.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,391,323 shares of the company’s stock worth $275,121,000 after purchasing an additional 42,391 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Nexstar Media Group by 27.1% in the second quarter. Alliancebernstein L.P. now owns 882,322 shares of the company’s stock valued at $152,598,000 after buying an additional 187,864 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Nexstar Media Group by 13.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 642,609 shares of the company’s stock worth $127,070,000 after buying an additional 75,228 shares during the period. AQR Capital Management LLC grew its holdings in shares of Nexstar Media Group by 118.1% during the second quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock worth $93,795,000 after buying an additional 294,308 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Nexstar Media Group by 63.0% during the third quarter. Principal Financial Group Inc. now owns 488,292 shares of the company’s stock worth $96,557,000 after buying an additional 188,695 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST opened at $245.22 on Thursday. The company has a debt-to-equity ratio of 3.05, a quick ratio of 2.07 and a current ratio of 2.07. Nexstar Media Group, Inc. has a one year low of $141.66 and a one year high of $254.30. The firm has a market capitalization of $7.44 billion, a P/E ratio of 83.41, a PEG ratio of 0.97 and a beta of 0.79. The company’s fifty day moving average is $224.64 and its two-hundred day moving average is $207.14.

Nexstar Media Group Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Citigroup upped their price objective on Nexstar Media Group from $204.00 to $252.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Benchmark lifted 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. Weiss Ratings reissued a “hold (c+)” rating on shares of Nexstar Media Group in a report on Monday, December 29th. Wells Fargo & Company increased their price target on Nexstar Media Group from $250.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Finally, Guggenheim upped their price objective on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Nexstar Media Group has a consensus rating of “Moderate Buy” and an average price target of $278.67.

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.