Teacher Retirement System of Texas Boosts Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Teacher Retirement System of Texas grew its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 116.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,604 shares of the company’s stock after buying an additional 8,943 shares during the quarter. Teacher Retirement System of Texas’ holdings in Nexstar Media Group were worth $2,623,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its holdings 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 valued at $190,650,000 after acquiring an additional 1,202,453 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Nexstar Media Group in the fourth quarter valued at about $35,560,000. Raymond James Financial Inc. purchased a new stake in shares of Nexstar Media Group in the fourth quarter worth about $8,402,000. World Investment Advisors LLC acquired a new stake in shares of Nexstar Media Group in the third quarter valued at about $3,747,000. Finally, SGL Investment Advisors Inc. purchased a new stake in shares of Nexstar Media Group during the 3rd quarter valued at about $3,758,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Trading Up 1.0 %

NASDAQ:NXST opened at $182.75 on Thursday. Nexstar Media Group, Inc. has a 1 year low of $146.04 and a 1 year high of $191.86. The business has a fifty day moving average of $161.33 and a 200-day moving average of $164.39. 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 has a market cap of $5.58 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 0.45 and a beta of 1.47.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results 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). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. Equities analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a $1.86 dividend. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend was Wednesday, February 12th. Nexstar Media Group’s payout ratio is presently 34.56%.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, insider Gary Weitman sold 1,241 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $177.21, for a total transaction of $219,917.61. Following the completion of the sale, the insider now directly owns 3,975 shares of the company’s stock, valued at approximately $704,409.75. This represents a 23.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles Thomas Mcmillen sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $169.51, for a total value of $339,020.00. Following the completion of the transaction, the director now owns 4,975 shares in the company, valued at $843,312.25. This represents a 28.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,337 shares of company stock valued at $6,036,762 over the last ninety days. Insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NXST shares. Barrington Research restated an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a report on Wednesday, March 5th. Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 price target 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. Benchmark upped their price target on shares of Nexstar Media Group from $200.00 to $225.00 and gave the company a “buy” rating in a report on Friday, February 28th. Finally, Loop Capital raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $190.00 to $200.00 in a report on Friday, February 28th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $208.43.

About Nexstar Media Group

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.