Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its stake in Nexstar Media Group, Inc. (NASDAQ:NXSTGet Rating) by 9.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,440 shares of the company’s stock after selling 2,471 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.05% of Nexstar Media Group worth $3,388,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NXST. CI Investments Inc. raised its stake in Nexstar Media Group by 3.2% during the third quarter. CI Investments Inc. now owns 2,012 shares of the company’s stock valued at $306,000 after buying an additional 62 shares in the last quarter. CIBC Asset Management Inc raised its stake in Nexstar Media Group by 4.4% during the third quarter. CIBC Asset Management Inc now owns 1,771 shares of the company’s stock valued at $269,000 after buying an additional 75 shares in the last quarter. Genesee Capital Advisors LLC raised its stake in Nexstar Media Group by 1.4% during the fourth quarter. Genesee Capital Advisors LLC now owns 5,944 shares of the company’s stock valued at $897,000 after buying an additional 83 shares in the last quarter. New York State Teachers Retirement System raised its stake in Nexstar Media Group by 2.9% during the fourth quarter. New York State Teachers Retirement System now owns 3,500 shares of the company’s stock valued at $528,000 after buying an additional 100 shares in the last quarter. Finally, Liberty Wealth Management LLC raised its stake in Nexstar Media Group by 98.2% during the third quarter. Liberty Wealth Management LLC now owns 216 shares of the company’s stock valued at $34,000 after buying an additional 107 shares in the last quarter. 94.46% of the stock is owned by institutional investors.

Several brokerages have issued reports on NXST. Zacks Investment Research upgraded Nexstar Media Group from a “sell” rating to a “hold” rating in a research note on Tuesday, March 8th. StockNews.com initiated coverage on Nexstar Media Group in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Wells Fargo & Company increased their price target on Nexstar Media Group from $186.00 to $208.00 in a research report on Wednesday, February 23rd. Barrington Research increased their price target on Nexstar Media Group from $200.00 to $215.00 in a research report on Wednesday, February 23rd. Finally, Benchmark increased their price target on Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, February 23rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $206.00.

Shares of NXST stock opened at $173.00 on Monday. Nexstar Media Group, Inc. has a 12-month low of $135.87 and a 12-month high of $192.84. The company has a market cap of $7.09 billion, a price-to-earnings ratio of 9.10, a price-to-earnings-growth ratio of 0.70 and a beta of 1.51. The business has a 50 day simple moving average of $181.12. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.79 and a quick ratio of 1.79.

Nexstar Media Group (NASDAQ:NXSTGet Rating) last issued its quarterly earnings data on Tuesday, February 22nd. The company reported $6.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.87 by $1.32. Nexstar Media Group had a return on equity of 31.18% and a net margin of 17.95%. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the company posted $7.97 EPS. The business’s revenue for the quarter was down 9.5% compared to the same quarter last year. On average, sell-side analysts forecast that Nexstar Media Group, Inc. will post 24.58 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 28th. Investors of record on Friday, February 11th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.08%. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Thursday, February 10th. Nexstar Media Group’s dividend payout ratio is 18.93%.

In other Nexstar Media Group news, Director John R. Muse sold 10,775 shares of the stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $186.92, for a total transaction of $2,014,063.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Perry A. Sook sold 248,506 shares of the firm’s stock in a transaction on Thursday, January 13th. The stock was sold at an average price of $170.34, for a total value of $42,330,512.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 301,672 shares of company stock valued at $51,997,969. 6.90% of the stock is currently owned by corporate insiders.

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.

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

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