New York State Common Retirement Fund Reduces Stock Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

New York State Common Retirement Fund reduced its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 14.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 214,839 shares of the company’s stock after selling 34,840 shares during the quarter. New York State Common Retirement Fund owned 0.63% of Nexstar Media Group worth $33,676,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of NXST. Channing Capital Management LLC grew its stake in Nexstar Media Group by 738.8% during the 3rd quarter. Channing Capital Management LLC now owns 506,212 shares of the company’s stock valued at $72,576,000 after purchasing an additional 445,859 shares in the last quarter. Boston Financial Mangement LLC grew its position in shares of Nexstar Media Group by 156.5% in the 3rd quarter. Boston Financial Mangement LLC now owns 238,670 shares of the company’s stock worth $34,218,000 after acquiring an additional 145,617 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Nexstar Media Group by 15,107.2% in the 4th quarter. International Assets Investment Management LLC now owns 122,570 shares of the company’s stock worth $19,213,000 after acquiring an additional 121,764 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Nexstar Media Group by 103.1% in the 3rd quarter. AQR Capital Management LLC now owns 142,146 shares of the company’s stock worth $20,219,000 after acquiring an additional 72,145 shares in the last quarter. Finally, Copeland Capital Management LLC grew its position in shares of Nexstar Media Group by 15.3% in the 3rd quarter. Copeland Capital Management LLC now owns 502,639 shares of the company’s stock worth $72,063,000 after acquiring an additional 66,645 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Trading Down 1.9 %

NASDAQ:NXST opened at $160.98 on Friday. Nexstar Media Group, Inc. has a 12-month low of $132.30 and a 12-month high of $187.32. The firm has a market capitalization of $5.38 billion, a P/E ratio of 16.72, a P/E/G ratio of 0.61 and a beta of 1.50. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.53 and a quick ratio of 1.53. The business has a 50 day simple moving average of $165.53 and a 200 day simple moving average of $158.95.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data on Wednesday, February 28th. The company reported $3.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.42 by ($1.10). Nexstar Media Group had a net margin of 7.03% and a return on equity of 14.06%. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the firm earned $8.04 EPS. The company’s revenue for the quarter was down 12.3% compared to the same quarter last year. Equities research analysts predict that Nexstar Media Group, Inc. will post 26.73 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Rosenblatt Securities decreased their target price on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. Barrington Research reiterated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, March 7th. Finally, TheStreet upgraded Nexstar Media Group from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Nexstar Media Group currently has an average rating of “Moderate Buy” and an average price target of $193.83.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, CEO Perry A. Sook sold 31,758 shares of Nexstar Media Group stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $158.66, for a total transaction of $5,038,724.28. Following the sale, the chief executive officer now owns 636,788 shares of the company’s stock, valued at approximately $101,032,784.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Nexstar Media Group news, Director Lisbeth Mcnabb sold 2,300 shares of Nexstar Media Group stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $165.00, for a total transaction of $379,500.00. Following the sale, the director now owns 12,727 shares of the company’s stock, valued at approximately $2,099,955. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Perry A. Sook sold 31,758 shares of Nexstar Media Group stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $158.66, for a total value of $5,038,724.28. Following the sale, the chief executive officer now directly owns 636,788 shares in the company, valued at approximately $101,032,784.08. The disclosure for this sale can be found here. Insiders have sold 46,508 shares of company stock valued at $7,487,950 in the last quarter. Corporate insiders own 5.90% of the company’s stock.

About Nexstar Media Group

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.