State of Alaska Department of Revenue Has $3.44 Million Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

State of Alaska Department of Revenue boosted its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 24.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,799 shares of the company's stock after acquiring an additional 4,305 shares during the quarter. State of Alaska Department of Revenue owned 0.07% of Nexstar Media Group worth $3,442,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Meritage Portfolio Management grew its holdings in shares of Nexstar Media Group by 10.4% during the fourth quarter. Meritage Portfolio Management now owns 5,084 shares of the company's stock worth $803,000 after purchasing an additional 481 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Nexstar Media Group by 15.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,947 shares of the company's stock worth $3,493,000 after purchasing an additional 2,929 shares during the last quarter. Verity Asset Management Inc. bought a new stake in shares of Nexstar Media Group during the fourth quarter worth $250,000. Trust Point Inc. bought a new stake in shares of Nexstar Media Group during the fourth quarter worth $350,000. Finally, Clear Creek Financial Management LLC grew its holdings in shares of Nexstar Media Group by 13.0% during the fourth quarter. Clear Creek Financial Management LLC now owns 2,367 shares of the company's stock worth $374,000 after purchasing an additional 273 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NXST. StockNews.com upgraded Nexstar Media Group from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Guggenheim reiterated a "buy" rating on shares of Nexstar Media Group in a report on Wednesday, January 22nd. Loop Capital cut Nexstar Media Group from a "buy" rating to a "hold" rating and decreased their price target for the company from $200.00 to $190.00 in a report on Friday, November 8th. Barrington Research reiterated an "outperform" rating and issued a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, November 7th. Finally, Benchmark reiterated a "buy" rating and issued a $215.00 price target on shares of Nexstar Media Group in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Nexstar Media Group currently has an average rating of "Moderate Buy" and a consensus target price of $204.29.

Nexstar Media Group Trading Down 2.2 %

NXST traded down $3.31 during midday trading on Wednesday, reaching $149.75. 240,738 shares of the company were exchanged, compared to its average volume of 275,473. The stock has a market capitalization of $4.65 billion, a P/E ratio of 8.66, a PEG ratio of 0.44 and a beta of 1.45. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The stock's 50-day simple moving average is $157.74 and its 200 day simple moving average is $164.87. Nexstar Media Group, Inc. has a one year low of $147.25 and a one year high of $191.86.

Nexstar Media Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be given a dividend of $1.86 per share. This is a positive change from Nexstar Media Group's previous quarterly dividend of $1.69. The ex-dividend date is Wednesday, February 12th. This represents a $7.44 annualized dividend and a dividend yield of 4.97%. Nexstar Media Group's payout ratio is 39.10%.

Insider Transactions at Nexstar Media Group

In related news, CEO Perry A. Sook sold 52,808 shares of the business's stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $157.41, for a total value of $8,312,507.28. Following the completion of the sale, the chief executive officer now directly owns 674,694 shares in the company, valued at $106,203,582.54. The trade was a 7.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John R. Muse sold 2,385 shares of the business's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $170.16, for a total value of $405,831.60. Following the completion of the sale, the director now owns 25,978 shares of the company's stock, valued at $4,420,416.48. This trade represents a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 134,209 shares of company stock worth $21,499,239. 6.30% of the stock is owned by company insiders.

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.