Nexstar Media Group, Inc. (NASDAQ:NXST) Position Lessened by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lowered its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 2.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,612 shares of the company’s stock after selling 96 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Nexstar Media Group were worth $600,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors bought a new stake in Nexstar Media Group in the first quarter valued at $92,323,000. Point72 Asset Management L.P. increased its holdings in shares of Nexstar Media Group by 392.6% in the 4th quarter. Point72 Asset Management L.P. now owns 450,351 shares of the company’s stock worth $70,593,000 after acquiring an additional 358,920 shares during the period. Vanguard Group Inc. increased its holdings in shares of Nexstar Media Group by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock worth $580,689,000 after acquiring an additional 127,783 shares during the period. Payden & Rygel Investment Group bought a new stake in Nexstar Media Group in the 1st quarter valued at about $15,144,000. Finally, Global Assets Advisory LLC bought a new position in Nexstar Media Group in the 1st quarter worth about $14,421,000. 95.30% of the stock is currently owned by institutional investors.

Insider Transactions at Nexstar Media Group

In other news, Director Jay M. Grossman sold 10,000 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $170.70, for a total transaction of $1,707,000.00. Following the sale, the director now directly owns 54,625 shares of the company’s stock, valued at $9,324,487.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jay M. Grossman sold 10,000 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $170.70, for a total value of $1,707,000.00. Following the completion of the transaction, the director now owns 54,625 shares in the company, valued at approximately $9,324,487.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles Thomas Mcmillen sold 250 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $164.44, for a total value of $41,110.00. Following the sale, the director now owns 7,725 shares in the company, valued at approximately $1,270,299. The disclosure for this sale can be found here. Insiders sold a total of 33,851 shares of company stock valued at $5,690,416 in the last three months. 5.90% of the stock is currently owned by corporate insiders.

Nexstar Media Group Price Performance

NASDAQ:NXST opened at $164.73 on Friday. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 2.92. The business’s 50-day moving average price is $168.70 and its 200 day moving average price is $165.89. Nexstar Media Group, Inc. has a 52-week low of $132.30 and a 52-week high of $187.27. The firm has a market cap of $5.43 billion, a P/E ratio of 13.94, a PEG ratio of 0.19 and a beta of 1.49.

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

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a dividend of $1.69 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.10%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 57.19%.

Analysts Set New Price Targets

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

Nexstar Media Group Company 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.