Nexstar Media Group, Inc. $NXST Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 14.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 10,985 shares of the company’s stock after selling 1,852 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Nexstar Media Group were worth $1,900,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of NXST. First Horizon Advisors Inc. lifted its position in Nexstar Media Group by 62.3% in the 1st quarter. First Horizon Advisors Inc. now owns 401 shares of the company’s stock valued at $72,000 after purchasing an additional 154 shares during the last quarter. Teacher Retirement System of Texas lifted its position in Nexstar Media Group by 22.6% in the 1st quarter. Teacher Retirement System of Texas now owns 20,352 shares of the company’s stock valued at $3,647,000 after purchasing an additional 3,748 shares during the last quarter. D.A. Davidson & CO. bought a new stake in Nexstar Media Group in the 1st quarter valued at about $323,000. OneDigital Investment Advisors LLC bought a new stake in Nexstar Media Group in the 1st quarter valued at about $241,000. Finally, Concurrent Investment Advisors LLC lifted its position in Nexstar Media Group by 18.7% in the 1st quarter. Concurrent Investment Advisors LLC now owns 1,573 shares of the company’s stock valued at $282,000 after purchasing an additional 248 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group Stock Up 0.3%

NASDAQ NXST opened at $195.73 on Friday. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.69 and a quick ratio of 1.69. The company’s 50 day simple moving average is $199.77 and its 200 day simple moving average is $183.84. Nexstar Media Group, Inc. has a 12 month low of $141.66 and a 12 month high of $223.36. The company has a market capitalization of $5.93 billion, a P/E ratio of 10.16, a PEG ratio of 1.40 and a beta of 1.01.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, August 7th. The company reported $3.06 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 business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the previous year, the firm earned $3.54 EPS. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities research analysts expect that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th will be issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Wednesday, November 12th. Nexstar Media Group’s payout ratio is presently 38.63%.

Analyst Ratings Changes

NXST has been the topic of several recent research reports. Guggenheim lifted their price objective on shares of Nexstar Media Group from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Wells Fargo & Company upped their price target on shares of Nexstar Media Group from $206.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Nexstar Media Group in a research note on Wednesday, October 8th. Zacks Research raised shares of Nexstar Media Group to a “hold” rating in a research note on Friday, August 8th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $225.00 price target on shares of Nexstar Media Group in a research note on Tuesday, August 19th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.