Kendall Capital Management Raises Stake in Nexstar Media Group, Inc. $NXST

Kendall Capital Management boosted its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 20.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,434 shares of the company’s stock after buying an additional 4,820 shares during the quarter. Nexstar Media Group accounts for about 1.2% of Kendall Capital Management’s portfolio, making the stock its 19th largest holding. Kendall Capital Management owned about 0.09% of Nexstar Media Group worth $5,774,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in NXST. Measured Wealth Private Client Group LLC acquired a new stake in shares of Nexstar Media Group in the third quarter worth $28,000. Root Financial Partners LLC acquired a new position in Nexstar Media Group during the third quarter valued at $31,000. Hantz Financial Services Inc. boosted its holdings in Nexstar Media Group by 164.5% in the third quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock valued at $40,000 after purchasing an additional 125 shares during the last quarter. Caldwell Trust Co acquired a new stake in Nexstar Media Group during the 2nd quarter worth about $44,000. Finally, First Horizon Corp acquired a new stake in Nexstar Media Group during the 3rd quarter worth about $44,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Nexstar Media Group Price Performance

Shares of Nexstar Media Group stock opened at $180.38 on Friday. The firm has a market cap of $5.47 billion, a PE ratio of 61.35, a P/E/G ratio of 0.70 and a beta of 0.93. Nexstar Media Group, Inc. has a twelve month low of $141.66 and a twelve month high of $254.30. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 3.05. The business has a 50-day moving average price of $226.27 and a 200 day moving average price of $208.35.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were paid a $1.86 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $7.44 dividend on an annualized basis and a yield of 4.1%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 253.06%.

Analyst Ratings Changes

NXST has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Nexstar Media Group from $250.00 to $270.00 and gave the company a “buy” rating in a report on Monday, March 23rd. Benchmark lifted their price target on Nexstar Media Group from $250.00 to $300.00 and gave the company a “buy” rating in a research 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. Citigroup raised their price objective on shares of Nexstar Media Group from $204.00 to $252.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Finally, Wells Fargo & Company lifted their target price on shares of Nexstar Media Group from $250.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $282.00.

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.