California Public Employees Retirement System Has $11.96 Million Position in Nexstar Media Group Inc (NASDAQ:NXST)

California Public Employees Retirement System lifted its stake in shares of Nexstar Media Group Inc (NASDAQ:NXST) by 56.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 116,851 shares of the company’s stock after buying an additional 42,016 shares during the period. California Public Employees Retirement System owned approximately 0.25% of Nexstar Media Group worth $11,955,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. WINTON GROUP Ltd increased its stake in shares of Nexstar Media Group by 145.3% during the second quarter. WINTON GROUP Ltd now owns 12,859 shares of the company’s stock worth $1,299,000 after purchasing an additional 7,617 shares in the last quarter. Empowered Funds LLC purchased a new stake in Nexstar Media Group during the 2nd quarter valued at about $1,080,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Nexstar Media Group in the 2nd quarter valued at approximately $715,000. Foster & Motley Inc. grew its stake in shares of Nexstar Media Group by 19.4% in the 2nd quarter. Foster & Motley Inc. now owns 23,109 shares of the company’s stock valued at $2,334,000 after buying an additional 3,752 shares during the period. Finally, American National Bank grew its stake in shares of Nexstar Media Group by 47.5% in the 2nd quarter. American National Bank now owns 53,658 shares of the company’s stock valued at $5,419,000 after buying an additional 17,282 shares during the period.

Shares of NASDAQ:NXST traded up $2.09 during trading hours on Wednesday, reaching $106.91. The stock had a trading volume of 341,263 shares, compared to its average volume of 509,812. The company has a debt-to-equity ratio of 4.30, a quick ratio of 1.31 and a current ratio of 1.31. The firm’s 50 day moving average is $102.24 and its 200-day moving average is $101.36. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 12.52, a P/E/G ratio of 1.64 and a beta of 1.44. Nexstar Media Group Inc has a 1 year low of $70.53 and a 1 year high of $119.93.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Wednesday, November 6th. The company reported ($0.85) EPS for the quarter, missing the Zacks’ consensus estimate of $1.51 by ($2.36). Nexstar Media Group had a net margin of 9.87% and a return on equity of 16.74%. The company had revenue of $663.60 million during the quarter, compared to analysts’ expectations of $644.00 million. During the same period last year, the business earned $2.12 earnings per share. The company’s quarterly revenue was down 4.2% on a year-over-year basis. Analysts forecast that Nexstar Media Group Inc will post 6.55 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Thursday, November 7th. Nexstar Media Group’s payout ratio is currently 21.08%.

Several research firms have recently weighed in on NXST. Stephens set a $150.00 price target on shares of Nexstar Media Group and gave the company a “buy” rating in a research note on Friday, August 30th. ValuEngine raised shares of Nexstar Media Group from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Benchmark increased their price target on shares of Nexstar Media Group from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. B. Riley reissued a “buy” rating and issued a $140.00 price target on shares of Nexstar Media Group in a research note on Wednesday, November 20th. Finally, Zacks Investment Research upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating and set a $114.00 price objective on the stock in a report on Saturday, November 16th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $131.25.

In related news, Director Charles Thomas Mcmillen sold 625 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $106.55, for a total value of $66,593.75. Following the completion of the sale, the director now owns 3,750 shares in the company, valued at $399,562.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas Carter sold 1,300 shares of Nexstar Media Group stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $106.39, for a total transaction of $138,307.00. Following the transaction, the chief financial officer now owns 99,489 shares of the company’s stock, valued at approximately $10,584,634.71. The disclosure for this sale can be found here. Insiders have sold a total of 26,788 shares of company stock worth $2,883,691 over the last three months. 6.40% of the stock is currently owned by insiders.

Nexstar Media Group Profile

Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. The company focuses on the acquisition, development, and operation of television stations and interactive community Websites in small and medium-sized markets. It offers free over-the-air programming to television viewing audiences.

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Institutional Ownership by Quarter for Nexstar Media Group (NASDAQ:NXST)

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