New York State Teachers Retirement System Has $1.50 Million Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

New York State Teachers Retirement System reduced its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,544 shares of the company’s stock after selling 222 shares during the period. New York State Teachers Retirement System’s holdings in Nexstar Media Group were worth $1,496,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. International Assets Investment Management LLC increased its stake in shares of Nexstar Media Group by 15,107.2% in the 4th quarter. International Assets Investment Management LLC now owns 122,570 shares of the company’s stock valued at $19,213,000 after acquiring an additional 121,764 shares in the last quarter. Clear Creek Financial Management LLC bought a new stake in Nexstar Media Group in the fourth quarter valued at $314,000. Parcion Private Wealth LLC raised its holdings in shares of Nexstar Media Group by 14.2% during the fourth quarter. Parcion Private Wealth LLC now owns 27,038 shares of the company’s stock valued at $4,238,000 after purchasing an additional 3,359 shares during the period. Oak Thistle LLC bought a new position in shares of Nexstar Media Group during the 4th quarter worth about $521,000. Finally, Fifth Third Bancorp grew its stake in shares of Nexstar Media Group by 7.8% in the 4th quarter. Fifth Third Bancorp now owns 1,122 shares of the company’s stock valued at $176,000 after buying an additional 81 shares during the period. 95.30% of the stock is owned by institutional investors.

Nexstar Media Group Trading Down 0.1 %

Shares of Nexstar Media Group stock opened at $158.87 on Thursday. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 2.90. The stock has a fifty day simple moving average of $165.76 and a 200 day simple moving average of $158.01. Nexstar Media Group, Inc. has a 12-month low of $132.30 and a 12-month high of $187.32. The company has a market capitalization of $5.31 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 0.60 and a beta of 1.50.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Wednesday, February 28th. The company reported $3.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.42 by ($1.10). Nexstar Media Group had a return on equity of 14.06% and a net margin of 7.03%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the company earned $8.04 EPS. The business’s revenue was down 12.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Nexstar Media Group, Inc. will post 26.73 earnings per share for the current fiscal year.

Nexstar Media Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were given a dividend of $1.69 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.76 annualized dividend and a dividend yield of 4.26%. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.35. Nexstar Media Group’s dividend payout ratio (DPR) is currently 70.20%.

Insider Transactions at Nexstar Media Group

In related news, CEO Perry A. Sook sold 31,758 shares of Nexstar Media Group stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $158.66, for a total transaction of $5,038,724.28. Following the sale, the chief executive officer now directly owns 636,788 shares in the company, valued at $101,032,784.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Perry A. Sook sold 31,758 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $158.66, for a total transaction of $5,038,724.28. Following the completion of the sale, the chief executive officer now directly owns 636,788 shares of the company’s stock, valued at approximately $101,032,784.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Lisbeth Mcnabb sold 3,175 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $168.00, for a total transaction of $533,400.00. Following the completion of the transaction, the director now directly owns 5,252 shares in the company, valued at $882,336. The disclosure for this sale can be found here. Insiders have sold 46,508 shares of company stock worth $7,487,950 in the last 90 days. Insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on NXST shares. TheStreet upgraded Nexstar Media Group from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Rosenblatt Securities cut their target price on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Finally, Barrington Research restated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, March 7th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $193.83.

About Nexstar Media Group

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.