Nexstar Media Group, Inc. (NASDAQ:NXST) Stock Position Cut by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lessened its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 2.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,585 shares of the company’s stock after selling 626 shares during the period. Texas Permanent School Fund Corp owned 0.08% of Nexstar Media Group worth $4,579,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NXST. Capital Research Global Investors bought a new position in shares of Nexstar Media Group during the 1st quarter valued at about $92,323,000. Point72 Asset Management L.P. boosted its position in shares of Nexstar Media Group by 392.6% during the 4th quarter. Point72 Asset Management L.P. now owns 450,351 shares of the company’s stock valued at $70,593,000 after purchasing an additional 358,920 shares in the last quarter. Norges Bank bought a new position in shares of Nexstar Media Group during the 4th quarter valued at about $51,812,000. Vanguard Group Inc. boosted its position in shares of Nexstar Media Group by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock valued at $580,689,000 after purchasing an additional 127,783 shares in the last quarter. Finally, Payden & Rygel Investment Group bought a new position in shares of Nexstar Media Group during the 1st quarter valued at about $15,144,000. Institutional investors own 95.30% of the company’s stock.

Insider Transactions at Nexstar Media Group

In related news, insider Sean Compton sold 3,930 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $160.61, for a total transaction of $631,197.30. Following the transaction, the insider now owns 10,684 shares of the company’s stock, valued at $1,715,957.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Rachel Morgan sold 6,196 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $171.30, for a total transaction of $1,061,374.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sean Compton sold 3,930 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $160.61, for a total value of $631,197.30. Following the transaction, the insider now owns 10,684 shares in the company, valued at approximately $1,715,957.24. The disclosure for this sale can be found here. Insiders sold 17,436 shares of company stock valued at $2,871,152 over the last three months. 5.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Benchmark reaffirmed a “buy” rating and set a $225.00 price objective on shares of Nexstar Media Group in a research note on Friday, August 9th. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, August 8th. StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Monday, September 9th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of 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. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Nexstar Media Group presently has an average rating of “Buy” and a consensus target price of $201.67.

Nexstar Media Group Price Performance

NASDAQ NXST opened at $166.97 on Friday. The company has a 50 day simple moving average of $170.01 and a 200-day simple moving average of $165.61. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.78 and a quick ratio of 1.78. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 0.18 and a beta of 1.49. Nexstar Media Group, Inc. has a 52-week low of $132.30 and a 52-week high of $187.27.

Nexstar Media Group (NASDAQ:NXST) last posted 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). The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. Nexstar Media Group’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the company earned $2.64 earnings per share. Equities research analysts predict that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date was Friday, August 9th. Nexstar Media Group’s dividend payout ratio (DPR) is 57.19%.

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.