Nexstar Media Group, Inc. $NXST Holdings Decreased by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 15.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 157,456 shares of the company’s stock after selling 28,589 shares during the period. New York State Common Retirement Fund owned about 0.52% of Nexstar Media Group worth $31,135,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NXST. Pacer Advisors Inc. raised its stake in shares of Nexstar Media Group by 43.3% during the third quarter. Pacer Advisors Inc. now owns 430,913 shares of the company’s stock valued at $85,209,000 after purchasing an additional 130,283 shares in the last quarter. Momentum Wealth Planning LLC acquired a new stake in Nexstar Media Group during the second quarter valued at approximately $2,798,000. D.A. Davidson & CO. lifted its position in shares of Nexstar Media Group by 12.3% during the 2nd quarter. D.A. Davidson & CO. now owns 2,024 shares of the company’s stock valued at $350,000 after acquiring an additional 222 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Nexstar Media Group by 13.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 642,609 shares of the company’s stock valued at $127,070,000 after purchasing an additional 75,228 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new position in Nexstar Media Group in the 2nd quarter worth about $293,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on NXST. Deutsche Bank Aktiengesellschaft cut their target price on shares of Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Citigroup lowered their price target on Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating for the company in a research note on Tuesday, November 25th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nexstar Media Group in a research report on Monday, December 29th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $222.38.

Nexstar Media Group Price Performance

NASDAQ NXST opened at $212.38 on Friday. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $223.36. The company has a fifty day simple moving average of $203.82 and a 200 day simple moving average of $198.72. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 2.76. The company has a market cap of $6.44 billion, a P/E ratio of 13.17, a P/E/G ratio of 0.79 and a beta of 0.84.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, November 6th. The company reported $2.14 earnings per share for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.48). The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. Nexstar Media Group had a return on equity of 22.99% and a net margin of 10.02%.The firm’s revenue was down 12.3% on a year-over-year basis. During the same period in the prior year, the firm earned $5.27 EPS. On average, sell-side analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be issued a $1.86 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $7.44 dividend on an annualized basis and a yield of 3.5%. Nexstar Media Group’s dividend payout ratio (DPR) is 46.13%.

About Nexstar Media Group

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.