Louisiana State Employees Retirement System Trims Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Louisiana State Employees Retirement System reduced its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,100 shares of the company’s stock after selling 300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Nexstar Media Group were worth $1,280,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Creative Planning increased its position in Nexstar Media Group by 43.8% in the third quarter. Creative Planning now owns 6,925 shares of the company’s stock worth $1,145,000 after buying an additional 2,108 shares during the period. Blue Trust Inc. increased its holdings in shares of Nexstar Media Group by 7.3% during the third quarter. Blue Trust Inc. now owns 1,088 shares of the company’s stock valued at $181,000 after purchasing an additional 74 shares during the period. Copeland Capital Management LLC increased its holdings in shares of Nexstar Media Group by 18.1% during the third quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock valued at $90,567,000 after purchasing an additional 83,829 shares during the period. Foundations Investment Advisors LLC acquired a new position in Nexstar Media Group during the third quarter worth about $213,000. Finally, Sequoia Financial Advisors LLC grew its holdings in Nexstar Media Group by 26.5% during the third quarter. Sequoia Financial Advisors LLC now owns 3,834 shares of the company’s stock worth $634,000 after acquiring an additional 803 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Insider Transactions at Nexstar Media Group

In other news, CEO Perry A. Sook sold 35,205 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $162.13, for a total transaction of $5,707,786.65. Following the completion of the sale, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at $109,388,138.22. This trade represents a 4.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brett Jenkins sold 4,331 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $170.64, for a total value of $739,041.84. Following the sale, the insider now directly owns 25,540 shares of the company’s stock, valued at $4,358,145.60. This trade represents a 14.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,209 shares of company stock valued at $21,499,239 in the last three months. Corporate insiders own 6.30% of the company’s stock.

Nexstar Media Group Trading Up 1.7 %

Shares of NASDAQ NXST opened at $153.34 on Monday. Nexstar Media Group, Inc. has a one year low of $147.25 and a one year high of $191.86. The firm has a market capitalization of $4.76 billion, a PE ratio of 8.87, a PEG ratio of 0.44 and a beta of 1.45. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. The business has a 50-day moving average price of $156.99 and a two-hundred day moving average price of $164.29.

Nexstar Media Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be given a dividend of $1.86 per share. The ex-dividend date is Wednesday, February 12th. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.69. This represents a $7.44 dividend on an annualized basis and a yield of 4.85%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 39.10%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NXST. Benchmark reaffirmed a “buy” rating and set a $215.00 target price on shares of Nexstar Media Group in a report on Friday, November 8th. Guggenheim reiterated a “buy” rating on shares of Nexstar Media Group in a research report on Wednesday, January 22nd. Loop Capital lowered Nexstar Media Group from a “buy” rating to a “hold” rating and decreased their price target for the company from $200.00 to $190.00 in a research report on Friday, November 8th. Barrington Research reiterated an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, November 7th. Finally, StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $204.29.

Nexstar Media Group 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.