Public Employees Retirement Association of Colorado Has $501,000 Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Public Employees Retirement Association of Colorado lowered its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 12.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,169 shares of the company’s stock after selling 443 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Nexstar Media Group were worth $501,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in Nexstar Media Group during the 4th quarter worth approximately $25,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Nexstar Media Group during the third quarter worth $33,000. Jones Financial Companies Lllp lifted its position in Nexstar Media Group by 15.3% in the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock valued at $87,000 after acquiring an additional 73 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Nexstar Media Group by 99.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 786 shares of the company’s stock worth $124,000 after purchasing an additional 392 shares during the period. Finally, Venturi Wealth Management LLC increased its holdings in Nexstar Media Group by 31.0% during the 4th quarter. Venturi Wealth Management LLC now owns 883 shares of the company’s stock worth $139,000 after purchasing an additional 209 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Insider Buying and Selling

In related news, CEO Perry A. Sook sold 32,096 shares of Nexstar Media Group stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $170.67, for a total transaction of $5,477,824.32. Following the completion of the sale, the chief executive officer now owns 806,019 shares of the company’s stock, valued at approximately $137,563,262.73. The trade was a 3.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Andrew Alford sold 3,768 shares of the company’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total transaction of $685,700.64. Following the completion of the transaction, the insider now owns 5,405 shares in the company, valued at approximately $983,601.90. This trade represents a 41.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,105 shares of company stock valued at $6,722,463. 6.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NXST has been the subject of several recent research reports. Guggenheim upped their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Monday, March 10th. StockNews.com downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, Loop Capital raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $190.00 to $200.00 in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $207.14.

Nexstar Media Group Stock Performance

Shares of NXST stock opened at $144.68 on Friday. The stock has a market cap of $4.41 billion, a P/E ratio of 8.37, a P/E/G ratio of 0.45 and a beta of 1.09. The company has a fifty day moving average price of $162.95 and a two-hundred day moving average price of $162.71. Nexstar Media Group, Inc. has a one year low of $141.66 and a one year high of $191.86. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, February 27th. The company reported $7.56 EPS for the quarter, missing analysts’ consensus estimates of $9.22 by ($1.66). The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. As a group, equities analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

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.