Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 3.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,440 shares of the company’s stock after selling 244 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Nexstar Media Group were worth $1,017,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Wealth Enhancement Advisory Services LLC lifted its stake in Nexstar Media Group by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company’s stock valued at $1,073,000 after buying an additional 68 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Nexstar Media Group by 15.3% in the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock valued at $87,000 after acquiring an additional 73 shares in the last quarter. Davis Capital Management boosted its stake in shares of Nexstar Media Group by 2.0% during the fourth quarter. Davis Capital Management now owns 6,270 shares of the company’s stock valued at $990,000 after acquiring an additional 122 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in Nexstar Media Group by 5.8% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 2,518 shares of the company’s stock worth $398,000 after purchasing an additional 137 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in Nexstar Media Group by 1.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 10,127 shares of the company’s stock worth $1,600,000 after purchasing an additional 140 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Nexstar Media Group Trading Up 1.0 %

Shares of NXST opened at $182.75 on Thursday. Nexstar Media Group, Inc. has a twelve month low of $146.04 and a twelve month high of $191.86. The firm has a market capitalization of $5.58 billion, a P/E ratio of 10.57, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. The stock’s fifty day simple moving average is $161.33 and its 200 day simple moving average is $164.39.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data on Thursday, February 27th. The company reported $7.56 earnings per share for the quarter, missing the consensus estimate of $9.22 by ($1.66). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. On average, equities research analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a dividend of $1.86 per share. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. This represents a $7.44 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend was Wednesday, February 12th. Nexstar Media Group’s payout ratio is currently 34.56%.

Insider Transactions at Nexstar Media Group

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $169.51, for a total transaction of $339,020.00. Following the transaction, the director now owns 4,975 shares in the company, valued at $843,312.25. The trade was a 28.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Perry A. Sook sold 32,096 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $170.67, for a total value of $5,477,824.32. Following the completion of the sale, the chief executive officer now owns 806,019 shares of the company’s stock, valued at approximately $137,563,262.73. This trade represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,337 shares of company stock valued at $6,036,762 over the last 90 days. Corporate insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NXST. Guggenheim upped their target price on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a report on Friday, February 28th. Benchmark raised their target price on shares of Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Loop Capital upgraded Nexstar Media Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $190.00 to $200.00 in a report on Friday, February 28th. Rosenblatt Securities restated a “buy” rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Monday, March 10th. Finally, Barrington Research reiterated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Wednesday, March 5th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and an average price target of $208.43.

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.