California Public Employees Retirement System Grows Stock Holdings in Nexstar Media Group, Inc. $NXST

California Public Employees Retirement System grew its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 5.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,092 shares of the company’s stock after purchasing an additional 2,960 shares during the period. California Public Employees Retirement System owned about 0.19% of Nexstar Media Group worth $10,505,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NXST. Torren Management LLC bought a new stake in Nexstar Media Group in the 4th quarter worth approximately $28,000. Measured Wealth Private Client Group LLC bought a new position in Nexstar Media Group during the third quarter valued at approximately $28,000. WPG Advisers LLC grew its position in Nexstar Media Group by 65.7% during the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after acquiring an additional 71 shares during the last quarter. Danske Bank A S purchased a new position in shares of Nexstar Media Group during the third quarter worth approximately $59,000. Finally, State of Wyoming purchased a new position in shares of Nexstar Media Group during the second quarter worth approximately $54,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Gary Weitman sold 261 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $170.81, for a total value of $44,581.41. Following the sale, the insider directly owned 6,963 shares of the company’s stock, valued at approximately $1,189,350.03. This represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Brett Jenkins sold 301 shares of Nexstar Media Group stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $170.81, for a total value of $51,413.81. Following the completion of the transaction, the insider directly owned 28,798 shares of the company’s stock, valued at approximately $4,918,986.38. This represents a 1.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 22,813 shares of company stock worth $4,174,731 over the last three months. Corporate insiders own 7.00% of the company’s stock.

Nexstar Media Group Trading Up 1.2%

Shares of NXST opened at $183.31 on Friday. The stock has a market capitalization of $5.60 billion, a P/E ratio of 39.34, a PEG ratio of 0.49 and a beta of 0.91. Nexstar Media Group, Inc. has a twelve month low of $154.47 and a twelve month high of $254.30. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53. The firm has a fifty day simple moving average of $178.48 and a two-hundred day simple moving average of $202.15.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a $1.86 dividend. The ex-dividend date was Friday, May 15th. This represents a $7.44 annualized dividend and a dividend yield of 4.1%. Nexstar Media Group’s dividend payout ratio is presently 159.66%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NXST. Barrington Research reaffirmed an “outperform” rating and issued a $290.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, April 28th. Zacks Research downgraded shares of Nexstar Media Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Finally, Wells Fargo & Company reduced their price objective on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $259.67.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.