Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System reduced its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 5.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,275 shares of the company's stock after selling 3,545 shares during the period. California Public Employees Retirement System owned approximately 0.19% of Nexstar Media Group worth $9,206,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NXST. Verition Fund Management LLC lifted its position in Nexstar Media Group by 25.2% during the 3rd quarter. Verition Fund Management LLC now owns 7,344 shares of the company's stock worth $1,214,000 after acquiring an additional 1,479 shares during the period. Quarry LP raised its stake in shares of Nexstar Media Group by 111.1% in the third quarter. Quarry LP now owns 627 shares of the company's stock worth $104,000 after purchasing an additional 330 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Nexstar Media Group by 27.6% during the third quarter. Quantinno Capital Management LP now owns 4,287 shares of the company's stock worth $709,000 after purchasing an additional 928 shares during the period. Stifel Financial Corp boosted its position in Nexstar Media Group by 136.8% in the third quarter. Stifel Financial Corp now owns 30,355 shares of the company's stock valued at $5,019,000 after buying an additional 17,535 shares during the last quarter. Finally, Weiss Asset Management LP acquired a new position in Nexstar Media Group in the 3rd quarter worth approximately $443,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other news, insider Gary Weitman sold 1,241 shares of Nexstar Media Group stock in a transaction on Friday, March 7th. The stock was sold at an average price of $177.21, for a total transaction of $219,917.61. Following the transaction, the insider now owns 3,975 shares in the company, valued at $704,409.75. The trade was a 23.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew Alford sold 3,768 shares of the company's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total transaction of $685,700.64. Following the completion of the sale, the insider now directly owns 5,405 shares of the company's stock, valued at $983,601.90. This represents a 41.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,105 shares of company stock worth $6,722,463. 6.30% of the stock is owned by insiders.

Nexstar Media Group Price Performance

Shares of NXST stock traded down $0.99 during trading hours on Friday, hitting $151.99. 707,789 shares of the company's stock were exchanged, compared to its average volume of 369,033. Nexstar Media Group, Inc. has a fifty-two week low of $143.32 and a fifty-two week high of $191.86. The firm has a market cap of $4.64 billion, a P/E ratio of 8.79, a P/E/G ratio of 0.45 and a beta of 1.09. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The firm has a 50 day moving average of $163.71 and a two-hundred day moving average of $164.22.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported $7.56 earnings per share for the quarter, missing analysts' consensus estimates of $9.22 by ($1.66). The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. Sell-side analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a dividend of $1.86 per share. The ex-dividend date was Wednesday, February 12th. This is a positive change from Nexstar Media Group's previous quarterly dividend of $1.69. This represents a $7.44 dividend on an annualized basis and a yield of 4.90%. Nexstar Media Group's payout ratio is presently 34.56%.

Wall Street Analyst Weigh In

Several analysts have commented on NXST shares. Rosenblatt Securities restated a "buy" rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Monday, March 10th. Loop Capital raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating and upped their price target for the company from $190.00 to $200.00 in a report on Friday, February 28th. Barrington Research reiterated an "outperform" rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Benchmark upped their target price on Nexstar Media Group from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Finally, Guggenheim raised their target price on Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $208.43.

Nexstar Media Group 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.