Illinois Municipal Retirement Fund Grows Position in Nexstar Media Group, Inc. $NXST

Illinois Municipal Retirement Fund increased its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 7.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,938 shares of the company’s stock after acquiring an additional 1,502 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Nexstar Media Group were worth $3,794,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NXST. IFP Advisors Inc boosted its holdings in shares of Nexstar Media Group by 375.0% during the 2nd quarter. IFP Advisors Inc now owns 152 shares of the company’s stock worth $26,000 after purchasing an additional 120 shares during the last quarter. LRI Investments LLC purchased a new stake in Nexstar Media Group in the 2nd quarter valued at $43,000. Parkside Financial Bank & Trust increased its stake in shares of Nexstar Media Group by 70.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 273 shares of the company’s stock worth $47,000 after acquiring an additional 113 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Nexstar Media Group by 2,293.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 383 shares of the company’s stock worth $69,000 after acquiring an additional 367 shares during the period. Finally, SBI Securities Co. Ltd. boosted its position in shares of Nexstar Media Group by 186.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 453 shares of the company’s stock valued at $81,000 after acquiring an additional 295 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Trading Down 3.5%

Shares of NXST stock opened at $188.08 on Thursday. Nexstar Media Group, Inc. has a fifty-two week low of $141.66 and a fifty-two week high of $223.36. The company has a 50 day moving average price of $197.91 and a 200 day moving average price of $186.29. The stock has a market capitalization of $5.70 billion, a P/E ratio of 9.77, a price-to-earnings-growth ratio of 1.40 and a beta of 0.99. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.69 and a current ratio of 1.69.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, November 6th. The company reported $2.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.62 by ($0.48). Nexstar Media Group had a net margin of 11.90% and a return on equity of 28.40%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the business posted $5.27 earnings per share. The firm’s revenue was down 12.3% on a year-over-year basis. Equities research analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th will be paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Wednesday, November 12th. Nexstar Media Group’s dividend payout ratio is presently 46.13%.

Analyst Upgrades and Downgrades

NXST has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating for the company in a research note on Tuesday. Weiss Ratings cut Nexstar Media Group from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday. Barrington Research reaffirmed an “outperform” rating and issued a $225.00 price target on shares of Nexstar Media Group in a research note on Tuesday, August 19th. Wells Fargo & Company raised their price objective on Nexstar Media Group from $206.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Finally, Guggenheim lifted their price target on shares of Nexstar Media Group from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $225.00.

Nexstar Media Group Company 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.