New York State Common Retirement Fund Has $31.14 Million Stake in Nexstar Media Group, Inc. $NXST

New York State Common Retirement Fund lowered its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 15.4% in the third quarter, according to its most recent disclosure with the 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’s holdings in Nexstar Media Group were worth $31,135,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Claret Asset Management Corp lifted its position in shares of Nexstar Media Group by 4.1% in the 2nd quarter. Claret Asset Management Corp now owns 1,348 shares of the company’s stock worth $233,000 after acquiring an additional 53 shares during the period. Merit Financial Group LLC raised its stake in shares of Nexstar Media Group by 1.7% in the third quarter. Merit Financial Group LLC now owns 3,515 shares of the company’s stock valued at $695,000 after purchasing an additional 59 shares in the last quarter. Verdence Capital Advisors LLC lifted its position in Nexstar Media Group by 0.6% in the third quarter. Verdence Capital Advisors LLC now owns 11,647 shares of the company’s stock worth $2,222,000 after purchasing an additional 68 shares during the period. Geneos Wealth Management Inc. boosted its stake in Nexstar Media Group by 15.7% during the second quarter. Geneos Wealth Management Inc. now owns 589 shares of the company’s stock worth $102,000 after buying an additional 80 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Nexstar Media Group by 7.3% in the 2nd quarter. Blue Trust Inc. now owns 1,195 shares of the company’s stock valued at $207,000 after buying an additional 81 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NXST has been the topic of several recent research reports. Citigroup decreased their target price on shares of Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft decreased their price target on 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. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Nexstar Media Group in a research note on Monday, December 29th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $222.38.

Nexstar Media Group Stock Up 2.6%

Shares of NASDAQ NXST opened at $212.38 on Friday. Nexstar Media Group, Inc. has a 12-month low of $141.66 and a 12-month high of $223.36. The firm’s 50-day simple moving average is $203.82 and its 200 day simple moving average is $198.72. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 2.76. The company has a market cap of $6.44 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 0.79 and a beta of 0.84.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly 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 company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. Nexstar Media Group had a net margin of 10.02% and a return on equity of 22.99%. The business’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same period in the prior year, the business earned $5.27 EPS. On average, research analysts expect that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

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

Nexstar Media Group Profile

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.