California Public Employees Retirement System Has $11.36 Million Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

California Public Employees Retirement System trimmed its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 3.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 72,499 shares of the company’s stock after selling 2,546 shares during the quarter. California Public Employees Retirement System’s holdings in Nexstar Media Group were worth $11,364,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Channing Capital Management LLC boosted its holdings in Nexstar Media Group by 738.8% in the third quarter. Channing Capital Management LLC now owns 506,212 shares of the company’s stock worth $72,576,000 after acquiring an additional 445,859 shares in the last quarter. Boston Financial Mangement LLC lifted its holdings in shares of Nexstar Media Group by 156.5% in the 3rd quarter. Boston Financial Mangement LLC now owns 238,670 shares of the company’s stock worth $34,218,000 after purchasing an additional 145,617 shares in the last quarter. International Assets Investment Management LLC increased its stake in Nexstar Media Group by 15,107.2% during the 4th quarter. International Assets Investment Management LLC now owns 122,570 shares of the company’s stock valued at $19,213,000 after purchasing an additional 121,764 shares in the last quarter. New York State Common Retirement Fund raised its holdings in Nexstar Media Group by 71.0% during the third quarter. New York State Common Retirement Fund now owns 249,679 shares of the company’s stock worth $35,796,000 after buying an additional 103,636 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Nexstar Media Group by 103.1% in the third quarter. AQR Capital Management LLC now owns 142,146 shares of the company’s stock valued at $20,219,000 after buying an additional 72,145 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Insider Activity at Nexstar Media Group

In other news, EVP Michael Strober sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $167.49, for a total value of $167,490.00. Following the sale, the executive vice president now owns 1,076 shares of the company’s stock, valued at $180,219.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Michael Strober sold 1,000 shares of Nexstar Media Group stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $167.49, for a total value of $167,490.00. Following the completion of the transaction, the executive vice president now directly owns 1,076 shares in the company, valued at approximately $180,219.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dennis J. Fitzsimons sold 2,000 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $170.82, for a total value of $341,640.00. Following the sale, the director now owns 12,027 shares in the company, valued at approximately $2,054,452.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,508 shares of company stock worth $7,487,950. Company insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

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

Nexstar Media Group Stock Performance

NXST stock opened at $161.65 on Thursday. The business has a 50 day moving average of $164.59 and a 200-day moving average of $159.65. The firm has a market cap of $5.40 billion, a PE ratio of 16.79, a P/E/G ratio of 0.62 and a beta of 1.50. Nexstar Media Group, Inc. has a 12-month low of $132.30 and a 12-month high of $187.32. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 2.90.

Nexstar Media Group (NASDAQ:NXST) last announced 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). The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Nexstar Media Group had a net margin of 7.03% and a return on equity of 14.06%. The company’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same period in the prior year, the business earned $8.04 earnings per share. As a group, sell-side analysts expect that Nexstar Media Group, Inc. will post 26.73 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be paid a dividend of $1.69 per share. The ex-dividend date is Thursday, May 9th. This represents a $6.76 annualized dividend and a dividend yield of 4.18%. Nexstar Media Group’s payout ratio is 70.20%.

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.