Sentinel Dome Partners LLC Takes Position in Nexstar Media Group, Inc. $NXST

Sentinel Dome Partners LLC purchased a new position in Nexstar Media Group, Inc. (NASDAQ:NXST) in the 4th quarter, HoldingsChannel reports. The fund purchased 11,400 shares of the company’s stock, valued at approximately $2,315,000. Nexstar Media Group accounts for about 1.6% of Sentinel Dome Partners LLC’s holdings, making the stock its 20th biggest position.

Other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in Nexstar Media Group by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,402,272 shares of the company’s stock valued at $284,738,000 after purchasing an additional 10,949 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Nexstar Media Group by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,181,727 shares of the company’s stock valued at $239,950,000 after purchasing an additional 23,360 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Nexstar Media Group by 27.1% in the second quarter. Alliancebernstein L.P. now owns 882,322 shares of the company’s stock worth $152,598,000 after buying an additional 187,864 shares during the last quarter. Geode Capital Management LLC raised its holdings in Nexstar Media Group by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 773,443 shares of the company’s stock worth $157,114,000 after buying an additional 13,084 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Nexstar Media Group by 6.8% in the fourth quarter. Janus Henderson Group PLC now owns 632,387 shares of the company’s stock worth $128,408,000 after buying an additional 40,177 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Price Performance

Shares of NASDAQ:NXST opened at $164.16 on Friday. 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 firm has a market cap of $5.01 billion, a price-to-earnings ratio of 35.23, a price-to-earnings-growth ratio of 0.41 and a beta of 0.91. The business has a 50-day simple moving average of $189.52 and a two-hundred day simple moving average of $206.34. Nexstar Media Group, Inc. has a fifty-two week low of $163.46 and a fifty-two week high of $254.30.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Friday, May 15th. Nexstar Media Group’s payout ratio is presently 159.66%.

Insider Activity

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 1,000 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $180.00, for a total value of $180,000.00. Following the completion of the sale, the director owned 5,658 shares of the company’s stock, valued at approximately $1,018,440. The trade was a 15.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Michael Biard sold 1,227 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $174.21, for a total transaction of $213,755.67. Following the sale, the chief operating officer owned 17,105 shares of the company’s stock, valued at approximately $2,979,862.05. This represents a 6.69% decrease in their ownership of the stock. 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 sold 22,813 shares of company stock valued at $4,174,731 over the last three months. Corporate insiders own 7.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on NXST shares. Citigroup upgraded shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and cut their price target for the company from $252.00 to $220.00 in a report on Friday, April 10th. Weiss Ratings restated a “hold (c)” rating on shares of Nexstar Media Group in a report on Wednesday, May 27th. Guggenheim upped their price objective on Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Deutsche Bank Aktiengesellschaft cut their target price on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Finally, Benchmark reduced their target price on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $259.67.

Nexstar Media Group Company 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.