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

State of New Jersey Common Pension Fund D increased its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 7.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,837 shares of the company’s stock after buying an additional 840 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Nexstar Media Group were worth $2,028,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in shares of Nexstar Media Group during the 3rd quarter valued at about $25,000. True Wealth Design LLC purchased a new position in Nexstar Media Group during the third quarter worth approximately $30,000. Wilmington Savings Fund Society FSB purchased a new position in Nexstar Media Group during the third quarter worth approximately $33,000. Capital Performance Advisors LLP purchased a new position in Nexstar Media Group during the third quarter worth approximately $44,000. Finally, Quarry LP lifted its position in shares of Nexstar Media Group by 111.1% during the 3rd quarter. Quarry LP now owns 627 shares of the company’s stock valued at $104,000 after buying an additional 330 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Lisbeth Mcnabb sold 875 shares of Nexstar Media Group stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $172.00, for a total transaction of $150,500.00. Following the sale, the director now owns 5,752 shares of the company’s stock, valued at approximately $989,344. The trade was a 13.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Perry A. Sook sold 35,205 shares of Nexstar Media Group stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $162.13, for a total value of $5,707,786.65. Following the completion of the sale, the chief executive officer now owns 674,694 shares in the company, valued at $109,388,138.22. This represents a 4.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,493 shares of company stock worth $20,354,366. 6.30% of the stock is owned by corporate insiders.

Nexstar Media Group Trading Down 3.2 %

NXST opened at $149.56 on Monday. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. The company’s 50 day simple moving average is $155.72 and its two-hundred day simple moving average is $163.57. Nexstar Media Group, Inc. has a 1-year low of $147.25 and a 1-year high of $191.86. The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of 8.65, a price-to-earnings-growth ratio of 0.45 and a beta of 1.45.

Nexstar Media Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be given a dividend of $1.86 per share. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $7.44 dividend on an annualized basis and a yield of 4.97%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 43.03%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NXST. Barrington Research reiterated an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, November 7th. Guggenheim reaffirmed a “buy” rating on shares of Nexstar Media Group in a report on Wednesday, January 22nd. Benchmark reaffirmed a “buy” rating and issued a $215.00 price target on shares of Nexstar Media Group in a research note on Friday, November 8th. Loop Capital lowered shares of 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 note on Friday, November 8th. 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 assigned a buy rating to the stock. According to MarketBeat, Nexstar Media Group presently has an average rating of “Moderate Buy” and an average target price of $204.29.

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.