Retirement Systems of Alabama Sells 1,377 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Retirement Systems of Alabama decreased its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 3.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 35,457 shares of the company’s stock after selling 1,377 shares during the period. Retirement Systems of Alabama’s holdings in Nexstar Media Group were worth $5,601,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. increased its stake in shares of Nexstar Media Group by 27,180.2% during the 4th quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company’s stock worth $190,650,000 after purchasing an additional 1,202,453 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Nexstar Media Group by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company’s stock valued at $179,149,000 after acquiring an additional 7,117 shares during the period. Copeland Capital Management LLC increased its holdings in shares of Nexstar Media Group by 18.1% during the third quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock worth $90,567,000 after purchasing an additional 83,829 shares during the period. New York State Common Retirement Fund lifted its position in shares of Nexstar Media Group by 6.1% during the 3rd quarter. New York State Common Retirement Fund now owns 189,673 shares of the company’s stock valued at $31,362,000 after acquiring an additional 10,938 shares during the period. Finally, Capital Management Corp VA grew its stake in Nexstar Media Group by 2.7% during the third quarter. Capital Management Corp VA now owns 162,295 shares of the company’s stock worth $26,835,000 after buying an additional 4,258 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Stock Performance

Shares of Nexstar Media Group stock opened at $151.40 on Monday. The firm has a market capitalization of $4.70 billion, a P/E ratio of 8.76, a price-to-earnings-growth ratio of 0.44 and a beta of 1.45. Nexstar Media Group, Inc. has a 12 month low of $147.25 and a 12 month high of $191.86. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. The business’s fifty day simple moving average is $158.98 and its 200 day simple moving average is $165.38.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.51 by ($0.24). The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.70 earnings per share. As a group, analysts anticipate that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Increases Dividend

The business also recently announced 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. The ex-dividend date is Wednesday, February 12th. This represents a $7.44 annualized dividend and a dividend yield of 4.91%. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s dividend payout ratio is currently 39.10%.

Insider Buying and Selling at Nexstar Media Group

In related news, Director Lisbeth Mcnabb sold 875 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $172.00, for a total value of $150,500.00. Following the sale, the director now directly owns 5,752 shares of the company’s stock, valued at $989,344. This trade represents a 13.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brett Jenkins sold 4,331 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $170.64, for a total value of $739,041.84. Following the sale, the insider now owns 25,540 shares in the company, valued at $4,358,145.60. The trade was a 14.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,209 shares of company stock valued at $21,499,239 in the last quarter. 6.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Benchmark reissued a “buy” rating and issued a $215.00 price target on shares of Nexstar Media Group in a research note on Friday, November 8th. Barrington Research reissued an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, November 7th. Guggenheim reissued a “buy” rating on shares of Nexstar Media Group in a research report on Wednesday, January 22nd. Finally, Loop Capital lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating and dropped their price objective for the company from $200.00 to $190.00 in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Nexstar Media Group presently has an average rating of “Moderate Buy” and a consensus target price of $204.29.

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.