Public Employees Retirement System of Ohio Increases Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Public Employees Retirement System of Ohio grew its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 2.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 12,188 shares of the company’s stock after purchasing an additional 310 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Nexstar Media Group were worth $2,015,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NXST. Brooklyn Investment Group bought a new stake in shares of Nexstar Media Group during the third quarter valued at approximately $25,000. Whittier Trust Co. bought a new stake in shares of Nexstar Media Group in the 2nd quarter worth $27,000. True Wealth Design LLC purchased a new position in shares of Nexstar Media Group in the third quarter worth $30,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Nexstar Media Group by 3,700.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after purchasing an additional 259 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Nexstar Media Group during the third quarter valued at $44,000. Institutional investors own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NXST shares. Guggenheim decreased their target price on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research report on Friday, October 4th. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Loop Capital cut Nexstar Media Group from a “buy” rating to a “hold” rating and lowered their price target for the company from $200.00 to $190.00 in a report on Friday, November 8th. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, November 7th. Finally, Benchmark reissued a “buy” rating and issued a $215.00 target price on shares of Nexstar Media Group in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $204.29.

Insiders Place Their Bets

In other news, Director Bernadette S. Aulestia sold 500 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $164.45, for a total value of $82,225.00. Following the completion of the transaction, the director now owns 2,000 shares of the company’s stock, valued at $328,900. This represents a 20.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Perry A. Sook sold 12,239 shares of Nexstar Media Group stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $190.28, for a total value of $2,328,836.92. Following the sale, the chief executive officer now directly owns 674,694 shares in the company, valued at $128,380,774.32. This trade represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,798 shares of company stock worth $5,949,704 over the last three months. 6.30% of the stock is currently owned by company insiders.

Nexstar Media Group Trading Down 1.1 %

NASDAQ:NXST opened at $161.46 on Wednesday. Nexstar Media Group, Inc. has a one year low of $147.25 and a one year high of $191.86. The business has a fifty day moving average price of $170.10 and a 200-day moving average price of $167.47. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of 9.34, a price-to-earnings-growth ratio of 0.20 and a beta of 1.45. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly 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 26.03% and a net margin of 11.39%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the previous year, the company earned $0.70 EPS. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. Sell-side analysts forecast that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend was Friday, November 15th. Nexstar Media Group’s dividend payout ratio is currently 39.10%.

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.