Greenland Capital Management LP Lowers Position in Nexstar Media Group, Inc. $NXST

Greenland Capital Management LP cut its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 60.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,157 shares of the company’s stock after selling 20,151 shares during the period. Greenland Capital Management LP’s holdings in Nexstar Media Group were worth $2,602,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Root Financial Partners LLC bought a new position in shares of Nexstar Media Group during the third quarter valued at about $31,000. Hantz Financial Services Inc. increased its stake in Nexstar Media Group by 164.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock valued at $40,000 after buying an additional 125 shares during the last quarter. Allworth Financial LP lifted its position in shares of Nexstar Media Group by 617.2% during the 2nd quarter. Allworth Financial LP now owns 208 shares of the company’s stock worth $36,000 after buying an additional 179 shares in the last quarter. First Horizon Corp bought a new position in shares of Nexstar Media Group during the 3rd quarter worth approximately $44,000. Finally, Caldwell Trust Co purchased a new position in shares of Nexstar Media Group in the 2nd quarter worth approximately $44,000. Institutional investors own 95.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on NXST shares. Citigroup decreased their price target on Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating for the company in a research report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft boosted their price objective on Nexstar Media Group from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nexstar Media Group in a research report on Monday, December 29th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Nexstar Media Group presently has an average rating of “Moderate Buy” and a consensus target price of $225.50.

Nexstar Media Group Price Performance

Nexstar Media Group stock opened at $230.61 on Tuesday. Nexstar Media Group, Inc. has a 12 month low of $141.66 and a 12 month high of $254.30. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 2.76. The business’s 50 day simple moving average is $214.73 and its 200 day simple moving average is $203.68. The company has a market cap of $6.99 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 0.90 and a beta of 0.85.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be paid a dividend of $1.86 per share. The ex-dividend date is Friday, February 13th. This represents a $7.44 annualized dividend and a dividend yield of 3.2%. Nexstar Media Group’s dividend payout ratio is presently 46.13%.

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.