New York State Teachers Retirement System Sells 409 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

New York State Teachers Retirement System cut its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 4.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,935 shares of the company’s stock after selling 409 shares during the period. New York State Teachers Retirement System’s holdings in Nexstar Media Group were worth $1,477,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in 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 during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Nexstar Media Group by 4.9% in the 2nd 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 stake in shares of 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 during the last quarter. Capital Research Global Investors bought a new position in shares of Nexstar Media Group during the first quarter valued at $92,323,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Nexstar Media Group by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 418,815 shares of the company’s stock valued at $69,528,000 after purchasing an additional 2,145 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Insider Buying and Selling

In other Nexstar Media Group news, insider Gary Weitman sold 7,261 shares of Nexstar Media Group stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $164.80, for a total transaction of $1,196,612.80. Following the transaction, the insider now owns 5,216 shares of the company’s stock, valued at $859,596.80. The trade was 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 through the SEC website. In related news, CFO Lee Ann Gliha sold 984 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total value of $155,107.92. Following the transaction, the chief financial officer now directly owns 8,107 shares of the company’s stock, valued at approximately $1,277,906.41. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary Weitman sold 7,261 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $164.80, for a total value of $1,196,612.80. Following the completion of the transaction, the insider now owns 5,216 shares of the company’s stock, valued at $859,596.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,112 shares of company stock valued at $6,887,029. 6.30% of the stock is owned by corporate insiders.

Nexstar Media Group Stock Down 11.9 %

NXST opened at $166.04 on Friday. The firm’s 50 day simple moving average is $168.54 and its two-hundred day simple moving average is $166.97. The company has a market capitalization of $5.36 billion, a PE ratio of 9.60, a PEG ratio of 0.21 and a beta of 1.48. Nexstar Media Group, Inc. has a 1-year low of $140.92 and a 1-year high of $191.86. 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 (NASDAQ:NXST) last announced its earnings results on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the prior year, the business posted $0.70 earnings per share. Nexstar Media Group’s revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, equities analysts forecast that Nexstar Media Group, Inc. will post 25.72 EPS for the current year.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $1.69 per share. The ex-dividend date is Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.07%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 39.10%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NXST. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday. Guggenheim decreased their price objective on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a report on Friday, October 4th. Wells Fargo & Company dropped their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Benchmark reissued a “buy” rating and set a $215.00 price target on shares of Nexstar Media Group in a report on Friday. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $198.50.

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.