New York State Common Retirement Fund Increases Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

New York State Common Retirement Fund increased its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 6.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,673 shares of the company’s stock after buying an additional 10,938 shares during the period. New York State Common Retirement Fund’s holdings in Nexstar Media Group were worth $31,362,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Nexstar Media Group by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock worth $580,689,000 after acquiring an additional 127,783 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Nexstar Media Group by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock worth $220,189,000 after purchasing an additional 62,331 shares in the last quarter. Copeland Capital Management LLC raised its holdings in Nexstar Media Group by 18.1% in the third quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock worth $90,567,000 after purchasing an additional 83,829 shares in the last quarter. Capital Research Global Investors purchased a new position in Nexstar Media Group during the first quarter valued at $92,323,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Nexstar Media Group by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 418,815 shares of the company’s stock valued at $69,528,000 after buying an additional 2,145 shares in the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Nexstar Media Group

In related news, insider Andrew Alford sold 3,175 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $167.82, for a total transaction of $532,828.50. Following the transaction, the insider now owns 9,173 shares in the company, valued at $1,539,412.86. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Gary Weitman sold 7,261 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $164.80, for a total value of $1,196,612.80. Following the transaction, the insider now owns 5,216 shares of the company’s stock, valued at approximately $859,596.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Andrew Alford sold 3,175 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $167.82, for a total transaction of $532,828.50. Following the sale, the insider now directly owns 9,173 shares of the company’s stock, valued at approximately $1,539,412.86. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,112 shares of company stock worth $6,887,029 over the last three months. 6.30% of the stock is currently owned by company insiders.

Nexstar Media Group Stock Performance

NXST stock opened at $177.08 on Friday. The stock’s 50 day simple moving average is $167.82 and its 200 day simple moving average is $166.40. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 2.92. Nexstar Media Group, Inc. has a 12-month low of $140.92 and a 12-month high of $187.27. The stock has a market capitalization of $5.71 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 0.20 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, August 8th. The company reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the company earned $2.64 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, research analysts forecast that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date is Friday, November 15th. Nexstar Media Group’s payout ratio is presently 53.14%.

Analyst Ratings Changes

NXST has been the subject of several research reports. StockNews.com lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Guggenheim decreased their target price on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Barrington Research reissued an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, August 8th. Wells Fargo & Company cut their price target on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $199.71.

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.