Valley Wealth Managers Inc. Acquires 24,243 Shares of Nexstar Media Group, Inc. $NXST

Valley Wealth Managers Inc. grew its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 22.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 132,363 shares of the company’s stock after acquiring an additional 24,243 shares during the period. Nexstar Media Group comprises approximately 1.7% of Valley Wealth Managers Inc.’s holdings, making the stock its 16th largest position. Valley Wealth Managers Inc. owned about 0.44% of Nexstar Media Group worth $26,876,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Torren Management LLC bought a new stake in shares of Nexstar Media Group during the 4th quarter valued at $28,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Nexstar Media Group during the 3rd quarter valued at $28,000. Root Financial Partners LLC bought a new stake in shares of Nexstar Media Group during the 3rd quarter valued at $31,000. WPG Advisers LLC boosted its holdings in Nexstar Media Group by 65.7% in the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock worth $36,000 after buying an additional 71 shares during the period. Finally, Hantz Financial Services Inc. boosted its holdings in Nexstar Media Group by 164.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock worth $40,000 after buying an additional 125 shares during the period. Institutional investors own 95.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on NXST. Wells Fargo & Company dropped their target price on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a report on Friday. Barrington Research reaffirmed an “outperform” rating and issued a $290.00 target price on shares of Nexstar Media Group in a report on Tuesday, April 28th. Benchmark dropped their target price on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a report on Monday, April 6th. Guggenheim increased their price objective on shares of Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a report on Friday, February 27th. Finally, Citigroup raised shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $252.00 to $220.00 in a report on Friday, April 10th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $259.67.

Nexstar Media Group Price Performance

Shares of NASDAQ:NXST opened at $202.79 on Tuesday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 3.05. Nexstar Media Group, Inc. has a 12 month low of $164.00 and a 12 month high of $254.30. The company has a 50-day moving average price of $212.04 and a 200 day moving average price of $208.07. The company has a market cap of $6.19 billion, a price-to-earnings ratio of 43.52, a PEG ratio of 0.80 and a beta of 0.97.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 3.7%. The ex-dividend date is Friday, May 15th. Nexstar Media Group’s dividend payout ratio is presently 159.66%.

Nexstar Media Group 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.