Treasurer of the State of North Carolina Reduces Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Treasurer of the State of North Carolina trimmed its stake in Nexstar Media Group, Inc. (NASDAQ:NXSTFree Report) by 1.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,797 shares of the company’s stock after selling 202 shares during the period. Treasurer of the State of North Carolina owned approximately 0.06% of Nexstar Media Group worth $3,103,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its position in Nexstar Media Group by 632.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock worth $32,000 after purchasing an additional 177 shares during the last quarter. First United Bank & Trust purchased a new position in Nexstar Media Group during the 4th quarter worth $33,000. SRS Capital Advisors Inc. lifted its stake in shares of Nexstar Media Group by 350.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 239 shares of the company’s stock worth $37,000 after acquiring an additional 186 shares during the period. OLD Second National Bank of Aurora acquired a new stake in shares of Nexstar Media Group in the 4th quarter worth $45,000. Finally, Quadrant Capital Group LLC lifted its stake in shares of Nexstar Media Group by 41.1% in the 4th quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock worth $46,000 after acquiring an additional 86 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Benchmark restated a “buy” rating and issued a $225.00 target price on shares of Nexstar Media Group in a research note on Friday, May 10th. Wells Fargo & Company upgraded shares of Nexstar Media Group from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $190.00 to $221.00 in a research note on Monday, May 13th. Loop Capital upgraded shares of Nexstar Media Group to a “strong-buy” rating in a research note on Friday, May 10th. Rosenblatt Securities reduced their price objective on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. Finally, Barrington Research reiterated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $206.00.

Check Out Our Latest Research Report on Nexstar Media Group

Insiders Place Their Bets

In other news, Director John R. Muse sold 365 shares of Nexstar Media Group stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $160.00, for a total transaction of $58,400.00. Following the completion of the sale, the director now directly owns 27,613 shares in the company, valued at $4,418,080. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director John R. Muse sold 365 shares of Nexstar Media Group stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $160.00, for a total transaction of $58,400.00. Following the completion of the sale, the director now directly owns 27,613 shares in the company, valued at $4,418,080. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gary Weitman sold 528 shares of Nexstar Media Group stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $160.00, for a total transaction of $84,480.00. Following the sale, the insider now owns 11,687 shares of the company’s stock, valued at $1,869,920. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,009 shares of company stock worth $2,166,731. Insiders own 5.90% of the company’s stock.

Nexstar Media Group Stock Performance

Shares of NXST opened at $158.34 on Thursday. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 2.85. The stock has a market cap of $5.20 billion, a P/E ratio of 13.40, a PEG ratio of 0.57 and a beta of 1.48. The company has a 50-day moving average of $165.24 and a two-hundred day moving average of $163.35. Nexstar Media Group, Inc. has a 12-month low of $132.30 and a 12-month high of $187.32.

Nexstar Media Group (NASDAQ:NXSTGet Free Report) last announced its earnings results on Thursday, May 9th. The company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.28 by $0.88. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.97 earnings per share. As a group, research analysts predict that Nexstar Media Group, Inc. will post 27.62 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were given a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend was Thursday, May 9th. Nexstar Media Group’s payout ratio is currently 57.19%.

Nexstar Media Group Profile

(Free Report)

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.

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

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