VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $1.61 Million Investment in Nexstar Media Group, Inc. $NXST

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,000 shares of the company’s stock, valued at approximately $1,607,000.

Other large investors have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new position in Nexstar Media Group during the first quarter worth about $499,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Nexstar Media Group by 49.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,870 shares of the company’s stock valued at $2,844,000 after purchasing an additional 5,251 shares during the period. Millennium Management LLC boosted its holdings in Nexstar Media Group by 571.4% in the 1st quarter. Millennium Management LLC now owns 72,650 shares of the company’s stock valued at $13,020,000 after purchasing an additional 61,830 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Nexstar Media Group by 14.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 132,809 shares of the company’s stock worth $23,802,000 after purchasing an additional 16,637 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Nexstar Media Group during the 1st quarter worth approximately $654,000. 95.30% of the stock is owned by institutional investors.

Insider Transactions at Nexstar Media Group

In related news, CEO Perry A. Sook purchased 12,235 shares of Nexstar Media Group stock in a transaction dated Friday, June 26th. The shares were bought at an average cost of $162.26 per share, for a total transaction of $1,985,251.10. Following the purchase, the chief executive officer owned 899,044 shares in the company, valued at approximately $145,878,879.44. This trade represents a 1.38% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew Alford sold 746 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $170.81, for a total transaction of $127,424.26. Following the sale, the insider directly owned 14,549 shares in the company, valued at $2,485,114.69. This trade represents a 4.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 10,524 shares of company stock valued at $1,906,134. Company insiders own 7.00% of the company’s stock.

Analyst Ratings Changes

NXST has been the subject of a number of analyst reports. Zacks Research downgraded shares of Nexstar Media Group from a “hold” rating to a “strong sell” rating in a research report on Monday, August 10th. Deutsche Bank Aktiengesellschaft lowered their price objective on Nexstar Media Group from $255.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexstar Media Group in a report on Monday, August 24th. Wall Street Zen downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Wells Fargo & Company reduced their target price on Nexstar Media Group from $253.00 to $249.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.50.

Nexstar Media Group Stock Down 0.5%

Shares of NXST opened at $169.09 on Friday. The firm has a 50 day simple moving average of $183.21 and a two-hundred day simple moving average of $193.76. The company has a debt-to-equity ratio of 5.09, a current ratio of 1.56 and a quick ratio of 1.56. Nexstar Media Group, Inc. has a one year low of $154.47 and a one year high of $254.30. The company has a market cap of $5.21 billion, a P/E ratio of 32.45 and a beta of 0.90.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, August 6th. The company reported $3.61 earnings per share for the quarter, missing analysts’ consensus estimates of $5.98 by ($2.37). Nexstar Media Group had a net margin of 3.20% and a return on equity of 24.02%. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period in the prior year, the business posted $3.06 EPS. The company’s revenue for the quarter was up 62.2% compared to the same quarter last year. Research analysts forecast that Nexstar Media Group, Inc. will post 32.88 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a $1.86 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $7.44 annualized dividend and a yield of 4.4%. Nexstar Media Group’s dividend payout ratio (DPR) is 142.80%.

Nexstar Media Group Profile

Nexstar Media Group, Inc is a diversified American media company that owns and operates local television stations and digital media platforms across the United States. Its stations provide locally produced news, weather, sports and community programming, while also carrying programming from major broadcast networks, including ABC, CBS, NBC, FOX and The CW, depending on the market.

The company also operates NewsNation, a national cable news and information network, and develops digital content and advertising solutions through its online properties.