Public Employees Retirement System of Ohio Cuts Stock Holdings in Nexstar Media Group, Inc. $NXST

Public Employees Retirement System of Ohio reduced its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 3.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,422 shares of the company’s stock after selling 293 shares during the period. Public Employees Retirement System of Ohio’s holdings in Nexstar Media Group were worth $1,630,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in Nexstar Media Group by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,341,899 shares of the company’s stock worth $240,481,000 after purchasing an additional 10,544 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Nexstar Media Group by 3.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,138,064 shares of the company’s stock worth $203,964,000 after purchasing an additional 35,938 shares in the last quarter. Demars Financial Group LLC raised its holdings in Nexstar Media Group by 13.6% during the first quarter. Demars Financial Group LLC now owns 879,253 shares of the company’s stock worth $157,580,000 after purchasing an additional 105,516 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in Nexstar Media Group by 32.1% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 804,095 shares of the company’s stock worth $144,110,000 after purchasing an additional 195,574 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Nexstar Media Group by 7.9% during the first quarter. Northern Trust Corp now owns 499,896 shares of the company’s stock worth $89,591,000 after purchasing an additional 36,757 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Nexstar Media Group Stock Up 1.2%

Shares of NASDAQ NXST opened at $200.94 on Friday. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $223.36. The firm’s 50 day moving average price is $200.39 and its 200 day moving average price is $179.72. The firm has a market cap of $6.09 billion, a P/E ratio of 10.43, a price-to-earnings-growth ratio of 1.48 and a beta of 1.01. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.69 and a current ratio of 1.69.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, August 7th. The company reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.95 by $0.11. Nexstar Media Group had a net margin of 11.90% and a return on equity of 28.40%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the business earned $3.54 earnings per share. Nexstar Media Group’s revenue was down 3.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a dividend of $1.86 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $7.44 dividend on an annualized basis and a yield of 3.7%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 38.63%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NXST. Guggenheim upped their target price on shares of Nexstar Media Group from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Wells Fargo & Company upped their target price on shares of Nexstar Media Group from $206.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Weiss Ratings restated a “buy (b)” rating on shares of Nexstar Media Group in a research report on Saturday, September 27th. Barrington Research restated an “outperform” rating and set a $225.00 target price on shares of Nexstar Media Group in a research report on Tuesday, August 19th. Finally, Benchmark upped their target price on shares of Nexstar Media Group from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $225.00.

Nexstar Media Group 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.