JPMorgan Chase & Co. Purchases 228,603 Shares of Nexstar Media Group, Inc. $NXST

JPMorgan Chase & Co. lifted its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 157.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 374,027 shares of the company’s stock after buying an additional 228,603 shares during the period. JPMorgan Chase & Co. owned about 1.23% of Nexstar Media Group worth $73,960,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Claret Asset Management Corp increased its holdings in shares of Nexstar Media Group by 4.1% in the second quarter. Claret Asset Management Corp now owns 1,348 shares of the company’s stock worth $233,000 after acquiring an additional 53 shares in the last quarter. Merit Financial Group LLC increased its stake in Nexstar Media Group by 1.7% during the 3rd quarter. Merit Financial Group LLC now owns 3,515 shares of the company’s stock worth $695,000 after purchasing an additional 59 shares in the last quarter. Verdence Capital Advisors LLC increased its stake in Nexstar Media Group by 0.6% during the 3rd quarter. Verdence Capital Advisors LLC now owns 11,647 shares of the company’s stock worth $2,222,000 after purchasing an additional 68 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Nexstar Media Group by 15.7% during the 2nd quarter. Geneos Wealth Management Inc. now owns 589 shares of the company’s stock worth $102,000 after buying an additional 80 shares during the period. Finally, Focus Partners Advisor Solutions LLC lifted its stake in Nexstar Media Group by 4.4% in the third quarter. Focus Partners Advisor Solutions LLC now owns 1,946 shares of the company’s stock valued at $377,000 after buying an additional 82 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Nexstar Media Group Price Performance

Shares of NXST opened at $229.01 on Thursday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 3.05. The company’s fifty day simple moving average is $227.47 and its 200 day simple moving average is $208.21. Nexstar Media Group, Inc. has a 1-year low of $141.66 and a 1-year high of $254.30. The company has a market cap of $6.95 billion, a price-to-earnings ratio of 77.89, a PEG ratio of 0.94 and a beta of 0.79.

Nexstar Media Group Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 3.2%. Nexstar Media Group’s payout ratio is currently 253.06%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on NXST shares. Wells Fargo & Company increased 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. Benchmark lifted their price target 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 target 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 reissued an “outperform” rating and issued a $290.00 target price on shares of Nexstar Media Group in a research report on Tuesday, March 3rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Nexstar Media Group in a research note on Monday, December 29th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $278.67.

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.