LSV Asset Management Sells 80,592 Shares of Nexstar Media Group, Inc. $NXST

LSV Asset Management lowered its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 7.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,076,953 shares of the company’s stock after selling 80,592 shares during the quarter. LSV Asset Management’s holdings in Nexstar Media Group were worth $218,675,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Global Retirement Partners LLC raised its position in Nexstar Media Group by 1,512.3% in the 4th quarter. Global Retirement Partners LLC now owns 1,048 shares of the company’s stock worth $213,000 after purchasing an additional 983 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Nexstar Media Group in the 4th quarter worth approximately $1,076,000. Handelsbanken Fonder AB raised its position in Nexstar Media Group by 36.0% in the 4th quarter. Handelsbanken Fonder AB now owns 9,830 shares of the company’s stock worth $1,996,000 after purchasing an additional 2,600 shares during the last quarter. HighTower Advisors LLC raised its position in Nexstar Media Group by 3.2% in the 4th quarter. HighTower Advisors LLC now owns 2,975 shares of the company’s stock worth $604,000 after purchasing an additional 93 shares during the last quarter. Finally, North Dakota State Investment Board bought a new position in Nexstar Media Group in the 4th quarter worth approximately $204,000. Institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Price Performance

NXST opened at $188.67 on Friday. The company has a fifty day moving average price of $202.30 and a two-hundred day moving average price of $208.02. The company has a debt-to-equity ratio of 5.53, a quick ratio of 1.76 and a current ratio of 1.76. Nexstar Media Group, Inc. has a 52 week low of $164.00 and a 52 week high of $254.30. The firm has a market capitalization of $5.76 billion, a PE ratio of 40.49, a P/E/G ratio of 0.48 and a beta of 0.97.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Friday, May 15th. Nexstar Media Group’s payout ratio is currently 159.66%.

Insiders Place Their Bets

In other Nexstar Media Group news, insider Sean Compton sold 5,000 shares of Nexstar Media Group stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $196.00, for a total transaction of $980,000.00. Following the completion of the sale, the insider owned 11,252 shares of the company’s stock, valued at approximately $2,205,392. The trade was a 30.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dan Lanzano sold 237 shares of Nexstar Media Group stock in a transaction on Monday, May 18th. The stock was sold at an average price of $196.37, for a total transaction of $46,539.69. The SEC filing for this sale provides additional information. 6.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

NXST has been the subject of several research analyst reports. Wells Fargo & Company dropped their price objective on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Guggenheim boosted 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. Barrington Research restated an “outperform” rating and issued a $290.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Finally, Citigroup upgraded shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $252.00 to $220.00 in a research report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Nexstar Media Group presently has a consensus rating of “Buy” and an average price target of $259.67.

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.