Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System trimmed its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 4.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 28,662 shares of the company’s stock after selling 1,278 shares during the period. California State Teachers Retirement System’s holdings in Nexstar Media Group were worth $4,528,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NXST. SBI Securities Co. Ltd. acquired a new stake in shares of Nexstar Media Group during the 4th quarter valued at approximately $25,000. Jones Financial Companies Lllp raised its position in shares of Nexstar Media Group by 15.3% during 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 raised its position in shares of Nexstar Media Group by 99.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 786 shares of the company’s stock valued at $124,000 after acquiring an additional 392 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of Nexstar Media Group by 31.0% during the 4th quarter. Venturi Wealth Management LLC now owns 883 shares of the company’s stock valued at $139,000 after acquiring an additional 209 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of Nexstar Media Group by 49.7% during the 4th quarter. Covestor Ltd now owns 949 shares of the company’s stock valued at $150,000 after acquiring an additional 315 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on NXST. Loop Capital raised Nexstar Media Group from a “hold” rating to a “buy” rating and upped their price target for the company from $190.00 to $200.00 in a research report on Friday, February 28th. Wells Fargo & Company lowered their price objective on Nexstar Media Group from $216.00 to $200.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Barrington Research restated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, May 13th. Rosenblatt Securities restated a “buy” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Monday, March 10th. Finally, Wall Street Zen downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $205.71.

Nexstar Media Group Trading Up 1.5%

NASDAQ:NXST opened at $169.88 on Wednesday. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a 1-year low of $141.66 and a 1-year high of $191.86. The firm has a market capitalization of $5.18 billion, a price-to-earnings ratio of 9.83, a price-to-earnings-growth ratio of 0.45 and a beta of 1.06. The stock has a fifty day simple moving average of $161.60 and a 200 day simple moving average of $162.06.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, May 8th. The company reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.11. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the business earned $5.16 EPS. The business’s quarterly revenue was down 3.9% on a year-over-year basis. Sell-side analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date was Monday, May 19th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 37.69%.

Insider Transactions at Nexstar Media Group

In related news, insider Sean Compton sold 1,088 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $175.53, for a total value of $190,976.64. Following the transaction, the insider now directly owns 12,096 shares of the company’s stock, valued at approximately $2,123,210.88. This trade represents a 8.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew Alford sold 3,768 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total value of $685,700.64. Following the completion of the transaction, the insider now directly owns 5,405 shares in the company, valued at $983,601.90. The trade was a 41.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,192 shares of company stock valued at $3,029,104 in the last three months. Corporate insiders own 6.70% of the company’s stock.

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.