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

JPMorgan Chase & Co. grew its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 157.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 374,027 shares of the company’s stock after acquiring an additional 228,603 shares during the period. JPMorgan Chase & Co.’s holdings in Nexstar Media Group were worth $73,960,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in NXST. Dimensional Fund Advisors LP increased its holdings in shares of Nexstar Media Group by 3.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,391,323 shares of the company’s stock worth $275,121,000 after acquiring an additional 42,391 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Nexstar Media Group by 27.1% during the 2nd quarter. Alliancebernstein L.P. now owns 882,322 shares of the company’s stock valued at $152,598,000 after purchasing an additional 187,864 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Nexstar Media Group by 13.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 642,609 shares of the company’s stock worth $127,070,000 after purchasing an additional 75,228 shares during the period. AQR Capital Management LLC boosted its position in Nexstar Media Group by 118.1% during the second quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock worth $93,795,000 after purchasing an additional 294,308 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in shares of Nexstar Media Group by 63.0% in the third quarter. Principal Financial Group Inc. now owns 488,292 shares of the company’s stock valued at $96,557,000 after purchasing an additional 188,695 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Nexstar Media Group Trading Down 3.7%

Shares of NXST stock opened at $229.01 on Thursday. The stock has a market cap of $6.95 billion, a P/E ratio of 77.89, a price-to-earnings-growth ratio of 0.94 and a beta of 0.79. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $254.30. 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 stock has a 50 day simple moving average of $227.47 and a 200 day simple moving average of $208.21.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Friday, February 13th. Nexstar Media Group’s dividend payout ratio is presently 253.06%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in 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 company an “overweight” rating in a research report on Friday, February 27th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Nexstar Media Group from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Benchmark increased their price target on shares of Nexstar Media Group from $250.00 to $300.00 and gave the company a “buy” rating in a report on Friday, February 27th. Weiss Ratings restated a “hold (c+)” rating on shares of Nexstar Media Group in a research report on Monday, December 29th. Finally, Barrington Research restated an “outperform” rating and set a $290.00 price objective on shares of Nexstar Media Group in a report on Tuesday, March 3rd. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $278.67.

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.