9,000 Shares in Nexstar Media Group, Inc. $NXST Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems acquired 9,000 Nexstar Media Group shares worth approximately $1.6 million in the second quarter. Institutional investors and hedge funds collectively own 95.3% of NXST.
• Nexstar reported quarterly EPS of $3.61, missing the $5.98 consensus estimate, while revenue reached $1.99 billion and increased 62.2% year over year.
• The company pays a quarterly dividend of $1.86, equivalent to a $7.44 annualized payout and a 4.4% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $256.50, despite mixed recent rating changes.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 9,000 shares of the company's stock, valued at approximately $1,607,000.

Other hedge funds also recently bought and sold shares of the company. Bank of America Corp DE raised its position in shares of Nexstar Media Group by 17.0% during the first quarter. Bank of America Corp DE now owns 173,269 shares of the company's stock valued at $31,332,000 after buying an additional 25,193 shares during the last quarter. Sentinel Dome Partners LLC acquired a new stake in Nexstar Media Group during the fourth quarter worth about $2,315,000. CPC Advisors LLC increased its stake in Nexstar Media Group by 114.3% during the first quarter. CPC Advisors LLC now owns 26,651 shares of the company's stock valued at $4,819,000 after acquiring an additional 14,217 shares during the period. Geode Capital Management LLC increased its stake in Nexstar Media Group by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 773,443 shares of the company's stock valued at $157,114,000 after acquiring an additional 13,084 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Nexstar Media Group by 3,648.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 64,995 shares of the company's stock valued at $13,197,000 after acquiring an additional 63,261 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group Stock Down 0.5%

Shares of Nexstar Media Group stock opened at $169.09 on Friday. The business's 50 day simple moving average is $183.21 and its 200 day simple moving average is $193.76. The company has a debt-to-equity ratio of 5.09, a quick ratio of 1.56 and a current ratio of 1.56. Nexstar Media Group, Inc. has a 52-week low of $154.47 and a 52-week high of $254.30. The firm has a market cap of $5.21 billion, a PE ratio of 32.45 and a beta of 0.90.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $3.61 earnings per share for the quarter, missing the consensus estimate of $5.98 by ($2.37). The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.97 billion. Nexstar Media Group had a net margin of 3.20% and a return on equity of 24.02%. Nexstar Media Group's revenue was up 62.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.06 EPS. On average, analysts predict that Nexstar Media Group, Inc. will post 32.88 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a $1.86 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $7.44 annualized dividend and a dividend yield of 4.4%. Nexstar Media Group's dividend payout ratio (DPR) is currently 142.80%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Nexstar Media Group in a research note on Monday, August 24th. Wall Street Zen lowered shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Wells Fargo & Company lowered their target price on shares of Nexstar Media Group from $253.00 to $249.00 and set an "overweight" rating for the company in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Nexstar Media Group from $255.00 to $240.00 and set a "buy" rating on the stock in a report on Monday, August 10th. Finally, Zacks Research cut shares of Nexstar Media Group from a "hold" rating to a "strong sell" rating in a research report on Monday, August 10th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Nexstar Media Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $256.50.

Insiders Place Their Bets

In other Nexstar Media Group news, insider Dana Zimmer sold 4,008 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $187.46, for a total value of $751,339.68. Following the completion of the sale, the insider owned 1,792 shares in the company, valued at $335,928.32. This trade represents a 69.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Perry A. Sook acquired 12,235 shares of the firm's stock in a transaction dated Friday, June 26th. The stock was purchased at an average cost of $162.26 per share, with a total value of $1,985,251.10. Following the transaction, the chief executive officer owned 899,044 shares in the company, valued at approximately $145,878,879.44. This trade represents a 1.38% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 10,524 shares of company stock valued at $1,906,134 in the last ninety days. 7.00% of the stock is currently owned by insiders.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc is a diversified American media company that owns and operates local television stations and digital media platforms across the United States. Its stations provide locally produced news, weather, sports and community programming, while also carrying programming from major broadcast networks, including ABC, CBS, NBC, FOX and The CW, depending on the market.

The company also operates NewsNation, a national cable news and information network, and develops digital content and advertising solutions through its online properties.

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