State of New Jersey Common Pension Fund D Lowers Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

State of New Jersey Common Pension Fund D reduced its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 39.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,997 shares of the company’s stock after selling 7,809 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Nexstar Media Group were worth $1,992,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in NXST. Whittier Trust Co. acquired a new position in shares of Nexstar Media Group in the second quarter worth $27,000. EverSource Wealth Advisors LLC grew its stake in Nexstar Media Group by 632.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock worth $32,000 after purchasing an additional 177 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Nexstar Media Group by 3,700.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock worth $44,000 after purchasing an additional 259 shares during the period. Quadrant Capital Group LLC raised its position in Nexstar Media Group by 41.1% in the 4th quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock valued at $46,000 after purchasing an additional 86 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Nexstar Media Group by 112.2% in the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock valued at $49,000 after buying an additional 156 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, insider Sean Compton sold 3,930 shares of the firm’s stock in a transaction 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 directly owns 10,684 shares of the company’s stock, valued at approximately $1,715,957.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Nexstar Media Group news, insider Sean Compton sold 3,930 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $160.61, for a total transaction of $631,197.30. Following the completion of the sale, the insider now directly owns 10,684 shares of the company’s stock, valued at approximately $1,715,957.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Lee Ann Gliha sold 984 shares of Nexstar Media Group stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total value of $155,107.92. Following the completion of the transaction, the chief financial officer now owns 8,107 shares in the company, valued at $1,277,906.41. The disclosure for this sale can be found here. Insiders sold a total of 30,426 shares of company stock worth $5,116,478 in the last 90 days. 5.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on NXST. StockNews.com lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Wells Fargo & Company dropped their price objective on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research report 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 report on Thursday, August 8th. Benchmark reissued a “buy” rating and issued a $225.00 target price on shares of Nexstar Media Group in a report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $201.67.

Nexstar Media Group Stock Performance

NASDAQ NXST opened at $166.40 on Friday. The company has a fifty day moving average of $169.87 and a two-hundred day moving average of $165.71. The company has a market capitalization of $5.48 billion, a PE ratio of 14.08, a P/E/G ratio of 0.18 and a beta of 1.50. Nexstar Media Group, Inc. has a 1 year low of $132.30 and a 1 year high of $187.27. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.78 and a quick ratio of 1.78.

Nexstar Media Group (NASDAQ:NXST) last released 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 firm had revenue of $1.27 billion for 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%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.64 EPS. As a group, analysts expect that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a $1.69 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.06%. Nexstar Media Group’s payout ratio is 57.19%.

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.