Texas Permanent School Fund Corp Sells 626 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Texas Permanent School Fund Corp decreased its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 2.2% during the second quarter, HoldingsChannel reports. The firm owned 27,585 shares of the company’s stock after selling 626 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Nexstar Media Group were worth $4,579,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in Nexstar Media Group by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 324,995 shares of the company’s stock worth $50,943,000 after acquiring an additional 2,904 shares during the period. Principal Securities Inc. bought a new position in Nexstar Media Group during the fourth quarter worth $189,000. BNP Paribas Financial Markets increased its position in Nexstar Media Group by 31.2% during the fourth quarter. BNP Paribas Financial Markets now owns 14,046 shares of the company’s stock worth $2,202,000 after acquiring an additional 3,338 shares during the period. QRG Capital Management Inc. increased its position in Nexstar Media Group by 11.7% during the fourth quarter. QRG Capital Management Inc. now owns 4,080 shares of the company’s stock worth $640,000 after acquiring an additional 427 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its position in Nexstar Media Group by 13.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,769 shares of the company’s stock worth $591,000 after acquiring an additional 447 shares during the period. Institutional investors own 95.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on NXST shares. Barrington Research reaffirmed an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, August 8th. Benchmark reaffirmed a “buy” rating and set a $225.00 target price on shares of Nexstar Media Group in a research report on Friday, August 9th. Wells Fargo & Company lowered their price target on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Monday, September 9th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $201.67.

Nexstar Media Group Stock Up 4.0 %

Shares of NASDAQ:NXST opened at $166.97 on Friday. Nexstar Media Group, Inc. has a 52 week low of $132.30 and a 52 week high of $187.27. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78. The company’s fifty day moving average is $170.01 and its 200-day moving average is $165.61. The company has a market capitalization of $5.39 billion, a PE ratio of 14.13, a P/E/G ratio of 0.18 and a beta of 1.49.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, August 8th. The company reported $3.54 EPS for the quarter, missing the consensus estimate of $4.48 by ($0.94). Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the firm posted $2.64 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities research analysts predict that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a $1.69 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.76 annualized dividend and a dividend yield of 4.05%. Nexstar Media Group’s dividend payout ratio is presently 57.19%.

Insider Activity

In other news, insider Gary Weitman sold 522 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $149.08, for a total value of $77,819.76. Following the sale, the insider now owns 12,477 shares in the company, valued at approximately $1,860,071.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Gary Weitman sold 522 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $149.08, for a total transaction of $77,819.76. Following the transaction, the insider now owns 12,477 shares in the company, valued at approximately $1,860,071.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Blake Russell sold 523 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $149.08, for a total transaction of $77,968.84. Following the transaction, the executive vice president now owns 27,111 shares in the company, valued at approximately $4,041,707.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,436 shares of company stock worth $2,871,152. Corporate insiders own 5.90% of the company’s stock.

Nexstar Media Group Profile

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.