Massachusetts Financial Services Co. MA Acquires 75,228 Shares of Nexstar Media Group, Inc. $NXST

Massachusetts Financial Services Co. MA boosted its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 13.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 642,609 shares of the company’s stock after acquiring an additional 75,228 shares during the quarter. Massachusetts Financial Services Co. MA owned 2.12% of Nexstar Media Group worth $127,070,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its holdings in Nexstar Media Group by 375.0% during the second quarter. IFP Advisors Inc now owns 152 shares of the company’s stock valued at $26,000 after purchasing an additional 120 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Nexstar Media Group by 617.2% in 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. LRI Investments LLC bought a new position in shares of Nexstar Media Group during the 2nd quarter worth approximately $43,000. Caldwell Trust Co acquired a new stake in Nexstar Media Group in the 2nd quarter valued at $44,000. Finally, First Horizon Corp acquired a new stake in Nexstar Media Group in the 3rd quarter valued at $44,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Price Performance

Shares of NXST stock opened at $211.76 on Wednesday. Nexstar Media Group, Inc. has a 52 week low of $141.66 and a 52 week high of $223.36. The stock has a market capitalization of $6.42 billion, a PE ratio of 13.13, a PEG ratio of 0.82 and a beta of 0.84. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.87 and a current ratio of 1.87. The stock’s fifty day moving average is $199.74 and its 200-day moving average is $197.29.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, November 6th. The company reported $2.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.48). Nexstar Media Group had a net margin of 10.02% and a return on equity of 22.99%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the firm earned $5.27 earnings per share. The business’s quarterly revenue was down 12.3% compared to the same quarter last year. Equities research analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th were given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Wednesday, November 12th. Nexstar Media Group’s dividend payout ratio is presently 46.13%.

Analysts Set New Price Targets

NXST has been the subject of several recent analyst reports. Citigroup dropped their price objective on Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating for the company in a research note on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Nexstar Media Group in a report on Monday, December 29th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $222.38.

Nexstar Media Group Company 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.