State Street Corp increased its stake in Nexstar Media Group Inc (NASDAQ:NXST) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 531,436 shares of the company’s stock after buying an additional 14,104 shares during the period. State Street Corp owned 1.73% of Nexstar Media Group worth $33,639,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Rhumbline Advisers boosted its stake in shares of Nexstar Media Group by 2.8% in the third quarter. Rhumbline Advisers now owns 33,298 shares of the company’s stock valued at $1,922,000 after buying an additional 907 shares during the period. Teachers Advisors LLC boosted its stake in shares of Nexstar Media Group by 1.2% in the third quarter. Teachers Advisors LLC now owns 48,119 shares of the company’s stock valued at $2,777,000 after buying an additional 569 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Nexstar Media Group by 6.7% in the third quarter. BlackRock Fund Advisors now owns 767,915 shares of the company’s stock valued at $44,316,000 after buying an additional 47,973 shares during the period. Sentry Investment Management LLC boosted its stake in shares of Nexstar Media Group by 48.2% in the third quarter. Sentry Investment Management LLC now owns 52,602 shares of the company’s stock valued at $3,036,000 after buying an additional 17,105 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of Nexstar Media Group by 7.8% in the third quarter. Sei Investments Co. now owns 7,390 shares of the company’s stock valued at $427,000 after buying an additional 532 shares during the period.
Shares of Nexstar Media Group Inc (NASDAQ:NXST) traded up 0.44% during trading on Friday, hitting $69.10. 537,809 shares of the stock were exchanged. Nexstar Media Group Inc has a one year low of $44.75 and a one year high of $73.90. The stock has a market cap of $3.26 billion, a PE ratio of 23.91 and a beta of 2.22. The stock’s 50 day moving average price is $69.19 and its 200 day moving average price is $62.74.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 26th. Investors of record on Friday, May 12th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, May 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.74%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 38.59%.
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Several analysts recently weighed in on NXST shares. Jefferies Group LLC reissued a “buy” rating and set a $80.00 price objective (up previously from $60.00) on shares of Nexstar Media Group in a report on Friday, March 3rd. Benchmark Co. reissued a “buy” rating and set a $89.00 price objective (up previously from $70.00) on shares of Nexstar Media Group in a report on Wednesday, March 1st. Royal Bank of Canada initiated coverage on shares of Nexstar Media Group in a report on Tuesday, March 14th. They set an “outperform” rating and a $83.00 price objective on the stock. Wedbush raised their price objective on shares of Nexstar Media Group from $66.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, January 18th. Finally, Zacks Investment Research cut shares of Nexstar Media Group from a “hold” rating to a “strong sell” rating in a report on Saturday, January 21st. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $74.56.
In related news, Director John R. Muse sold 5,516 shares of Nexstar Media Group stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $70.06, for a total transaction of $386,450.96. Following the completion of the sale, the director now directly owns 7,405 shares of the company’s stock, valued at $518,794.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Elizabeth Ryder sold 1,000 shares of Nexstar Media Group stock in a transaction on Friday, March 24th. The stock was sold at an average price of $70.00, for a total value of $70,000.00. Following the sale, the executive vice president now directly owns 3,210 shares of the company’s stock, valued at $224,700. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,349 shares of company stock valued at $1,944,794. 7.80% of the stock is owned by insiders.
Nexstar Media Group Company Profile
Nexstar Media Group, Inc, formerly Nexstar Broadcasting Group, Inc, is a television broadcasting and digital media company. The Company is focused on the acquisition, development and operation of television stations and interactive community Websites, and digital media services in medium-sized markets in the United States.
