Teacher Retirement System of Texas Has $2.62 Million Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Teacher Retirement System of Texas increased its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 116.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,604 shares of the company's stock after buying an additional 8,943 shares during the quarter. Teacher Retirement System of Texas owned 0.05% of Nexstar Media Group worth $2,623,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. grew its holdings in shares of Nexstar Media Group by 27,180.2% in the 4th quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company's stock valued at $190,650,000 after acquiring an additional 1,202,453 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Nexstar Media Group in the fourth quarter valued at about $35,560,000. Raymond James Financial Inc. acquired a new stake in shares of Nexstar Media Group during the 4th quarter worth about $8,402,000. World Investment Advisors LLC bought a new stake in shares of Nexstar Media Group during the 3rd quarter worth about $3,747,000. Finally, SGL Investment Advisors Inc. acquired a new position in Nexstar Media Group in the 3rd quarter valued at about $3,758,000. Institutional investors and hedge funds own 95.30% of the company's stock.

Insider Activity at Nexstar Media Group

In other news, CEO Perry A. Sook sold 32,096 shares of Nexstar Media Group stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $170.67, for a total value of $5,477,824.32. Following the transaction, the chief executive officer now owns 806,019 shares in the company, valued at approximately $137,563,262.73. This trade represents a 3.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andrew Alford sold 3,768 shares of the business's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.98, for a total value of $685,700.64. Following the transaction, the insider now directly owns 5,405 shares of the company's stock, valued at $983,601.90. This trade represents a 41.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,105 shares of company stock valued at $6,722,463 over the last three months. 6.30% of the stock is owned by insiders.

Remove Ads

Nexstar Media Group Price Performance

Shares of NXST traded down $3.04 during trading hours on Friday, hitting $176.45. 410,199 shares of the company were exchanged, compared to its average volume of 351,655. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a fifty-two week low of $146.04 and a fifty-two week high of $191.86. The company has a market cap of $5.38 billion, a price-to-earnings ratio of 10.21, a P/E/G ratio of 0.45 and a beta of 1.47. The firm's fifty day moving average is $162.36 and its 200 day moving average is $164.63.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $9.22 by ($1.66). The firm 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%. On average, equities analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 4.22%. This is a boost from Nexstar Media Group's previous quarterly dividend of $1.69. The ex-dividend date of this dividend was Wednesday, February 12th. Nexstar Media Group's dividend payout ratio (DPR) is 34.56%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NXST. Guggenheim boosted their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Benchmark boosted their price target on Nexstar Media Group from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Monday, March 10th. StockNews.com downgraded Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Finally, Loop Capital upgraded 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 research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price 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.