Nexstar Media Group, Inc. $NXST Holdings Decreased by Copeland Capital Management LLC

Copeland Capital Management LLC reduced its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 5.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 376,621 shares of the company’s stock after selling 20,158 shares during the period. Nexstar Media Group accounts for about 1.7% of Copeland Capital Management LLC’s holdings, making the stock its 8th largest holding. Copeland Capital Management LLC’s holdings in Nexstar Media Group were worth $76,473,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. WPG Advisers LLC raised its position in shares of 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. A&I Financial Services LLC raised its position in shares of Nexstar Media Group by 10.0% in the 4th quarter. A&I Financial Services LLC now owns 3,225 shares of the company’s stock worth $655,000 after buying an additional 294 shares during the period. HB Wealth Management LLC purchased a new position in shares of Nexstar Media Group in the 4th quarter worth $223,000. M&T Bank Corp raised its position in shares of Nexstar Media Group by 2,573.4% in the 4th quarter. M&T Bank Corp now owns 140,112 shares of the company’s stock worth $28,494,000 after buying an additional 134,871 shares during the period. Finally, CPC Advisors LLC raised its position in shares of Nexstar Media Group by 11.4% in the 4th quarter. CPC Advisors LLC now owns 12,434 shares of the company’s stock worth $2,525,000 after buying an additional 1,271 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

Nexstar Media Group Trading Down 2.6%

NASDAQ:NXST opened at $204.82 on Friday. The business’s 50-day moving average is $218.44 and its two-hundred day moving average is $207.53. The company has a debt-to-equity ratio of 3.05, a current ratio of 2.07 and a quick ratio of 2.07. Nexstar Media Group, Inc. has a 12 month low of $141.66 and a 12 month high of $254.30. The firm has a market capitalization of $6.21 billion, a PE ratio of 69.67, a price-to-earnings-growth ratio of 0.83 and a beta of 0.93.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were given a $1.86 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $7.44 annualized dividend and a yield of 3.6%. Nexstar Media Group’s dividend payout ratio (DPR) is 253.06%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Benchmark cut their target price on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Citigroup raised Nexstar Media Group from a “neutral” rating to a “buy” rating and cut their target price for the stock from $252.00 to $220.00 in a research report on Friday, April 10th. Guggenheim increased their target price on Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Wells Fargo & Company increased their target price on Nexstar Media Group from $250.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Nexstar Media Group from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, March 23rd. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $268.33.

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.