Nexstar Media Group, Inc. (NASDAQ:NXST) Stake Trimmed by California Public Employees Retirement System

California Public Employees Retirement System lowered its stake in Nexstar Media Group, Inc. (NASDAQ:NXSTGet Rating) by 5.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,756 shares of the company’s stock after selling 5,006 shares during the quarter. California Public Employees Retirement System’s holdings in Nexstar Media Group were worth $13,642,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Nexstar Media Group by 0.7% in the 1st quarter. BlackRock Inc. now owns 1,714,944 shares of the company’s stock worth $323,233,000 after purchasing an additional 12,720 shares in the last quarter. Boston Partners boosted its position in Nexstar Media Group by 4.2% during the 1st quarter. Boston Partners now owns 1,281,140 shares of the company’s stock worth $240,728,000 after acquiring an additional 51,990 shares during the period. Goldman Sachs Group Inc. boosted its position in Nexstar Media Group by 9.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 716,393 shares of the company’s stock worth $135,026,000 after acquiring an additional 60,217 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in Nexstar Media Group by 32.1% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 662,488 shares of the company’s stock worth $124,866,000 after acquiring an additional 161,170 shares during the period. Finally, State Street Corp boosted its position in Nexstar Media Group by 3.9% during the 1st quarter. State Street Corp now owns 649,897 shares of the company’s stock worth $122,493,000 after acquiring an additional 24,184 shares during the period. Hedge funds and other institutional investors own 92.01% of the company’s stock.

Nexstar Media Group Stock Up 0.3 %

Shares of NXST stock opened at $170.95 on Monday. The stock’s 50 day simple moving average is $176.16 and its 200 day simple moving average is $177.27. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.82 and a current ratio of 1.82. Nexstar Media Group, Inc. has a twelve month low of $139.69 and a twelve month high of $204.62. The company has a market capitalization of $6.45 billion, a price-to-earnings ratio of 6.83, a PEG ratio of 0.64 and a beta of 1.43.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 28th. Investors of record on Monday, November 14th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Thursday, November 10th. Nexstar Media Group’s payout ratio is 14.38%.

Analysts Set New Price Targets

A number of brokerages have commented on NXST. Rosenblatt Securities decreased their price objective on Nexstar Media Group from $246.00 to $237.00 and set a “buy” rating for the company in a research report on Wednesday, November 9th. Wells Fargo & Company lowered Nexstar Media Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $227.00 to $175.00 in a research report on Wednesday, November 9th. StockNews.com assumed coverage on Nexstar Media Group in a report on Wednesday, October 12th. They set a “buy” rating for the company. Barrington Research reduced their price target on Nexstar Media Group from $240.00 to $200.00 in a report on Friday, November 11th. Finally, Guggenheim reduced their price target on Nexstar Media Group to $230.00 in a report on Thursday, October 20th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $215.33.

Insider Activity at Nexstar Media Group

In related news, COO Thomas Carter sold 9,737 shares of the firm’s stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $171.91, for a total value of $1,673,887.67. Following the transaction, the chief operating officer now directly owns 102,540 shares of the company’s stock, valued at approximately $17,627,651.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Nexstar Media Group news, COO Thomas Carter sold 9,737 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $171.91, for a total value of $1,673,887.67. Following the transaction, the chief operating officer now directly owns 102,540 shares of the company’s stock, valued at approximately $17,627,651.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Elizabeth Ryder sold 2,704 shares of Nexstar Media Group stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $200.00, for a total value of $540,800.00. Following the completion of the transaction, the insider now directly owns 9,133 shares in the company, valued at $1,826,600. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,133 shares of company stock valued at $4,411,873. Corporate insiders own 5.00% of the company’s stock.

Nexstar Media Group Company Profile

(Get Rating)

Nexstar Media Group, Inc, a television broadcasting and digital media company, focuses on the acquisition, development, and operation of television stations and interactive community websites and digital media services in the United States. The company offers free programming to television viewing audiences.

Further Reading

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Institutional Ownership by Quarter for Nexstar Media Group (NASDAQ:NXST)

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