Retirement Systems of Alabama Trims Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Retirement Systems of Alabama cut its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,372 shares of the company’s stock after selling 1,243 shares during the period. Retirement Systems of Alabama’s holdings in Nexstar Media Group were worth $6,328,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in NXST. Bruni J V & Co. Co. boosted its position in shares of Nexstar Media Group by 0.4% during the fourth quarter. Bruni J V & Co. Co. now owns 195,434 shares of the company’s stock valued at $30,634,000 after purchasing an additional 702 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Nexstar Media Group during the fourth quarter valued at approximately $112,000. Meritage Portfolio Management boosted its position in shares of Nexstar Media Group by 24.5% during the fourth quarter. Meritage Portfolio Management now owns 4,492 shares of the company’s stock valued at $704,000 after purchasing an additional 885 shares in the last quarter. Alaska Permanent Fund Corp boosted its position in shares of Nexstar Media Group by 3.0% during the fourth quarter. Alaska Permanent Fund Corp now owns 14,517 shares of the company’s stock valued at $2,276,000 after purchasing an additional 417 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its position in shares of Nexstar Media Group by 4.6% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 8,420 shares of the company’s stock valued at $1,320,000 after purchasing an additional 368 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NXST. Barrington Research restated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, March 7th. TheStreet upgraded Nexstar Media Group from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Finally, Rosenblatt Securities dropped their target price on 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 research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Nexstar Media Group has a consensus rating of “Moderate Buy” and an average price target of $193.83.

Nexstar Media Group Trading Up 1.4 %

Nexstar Media Group stock opened at $166.56 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 2.90. The business’s fifty day simple moving average is $164.36 and its two-hundred day simple moving average is $159.94. Nexstar Media Group, Inc. has a 12 month low of $132.30 and a 12 month high of $187.32. The company has a market capitalization of $5.49 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth ratio of 0.62 and a beta of 1.50.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Wednesday, February 28th. The company reported $3.32 EPS for the quarter, missing the consensus estimate of $4.42 by ($1.10). Nexstar Media Group had a return on equity of 14.06% and a net margin of 7.03%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the firm posted $8.04 earnings per share. The company’s revenue was down 12.3% compared to the same quarter last year. As a group, equities analysts predict that Nexstar Media Group, Inc. will post 26.73 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date is Thursday, May 9th. Nexstar Media Group’s payout ratio is currently 70.20%.

Insider Activity

In other news, CEO Perry A. Sook sold 31,758 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $158.66, for a total transaction of $5,038,724.28. Following the transaction, the chief executive officer now directly owns 636,788 shares of the company’s stock, valued at $101,032,784.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Perry A. Sook sold 31,758 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $158.66, for a total transaction of $5,038,724.28. Following the transaction, the chief executive officer now directly owns 636,788 shares of the company’s stock, valued at $101,032,784.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Sean Compton sold 3,000 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $162.61, for a total value of $487,830.00. Following the transaction, the insider now directly owns 9,489 shares in the company, valued at $1,543,006.29. The disclosure for this sale can be found here. Insiders have sold a total of 46,508 shares of company stock valued at $7,487,950 over the last ninety days. 5.90% of the stock is currently owned by corporate insiders.

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.