Nexstar Media Group, Inc. $NXST Holdings Decreased by California State Teachers Retirement System

California State Teachers Retirement System decreased its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,173 shares of the company's stock after selling 432 shares during the quarter. California State Teachers Retirement System owned 0.11% of Nexstar Media Group worth $5,924,366 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in NXST. QVT Financial LP grew its stake in shares of Nexstar Media Group by 200.0% during the 4th quarter. QVT Financial LP now owns 155,281 shares of the company's stock worth $31,530,000 after acquiring an additional 310,562 shares in the last quarter. Norges Bank purchased a new stake in Nexstar Media Group during the 4th quarter worth about $41,474,000. Epoch Investment Partners Inc. boosted its stake in shares of Nexstar Media Group by 685.8% in the 1st quarter. Epoch Investment Partners Inc. now owns 92,817 shares of the company's stock valued at $16,784,000 after purchasing an additional 81,005 shares in the last quarter. Allianz Asset Management GmbH boosted its position in shares of Nexstar Media Group by 28.4% during the fourth quarter. Allianz Asset Management GmbH now owns 358,762 shares of the company's stock valued at $72,847,000 after purchasing an additional 79,426 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Nexstar Media Group by 3,648.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 64,995 shares of the company's stock worth $13,197,000 after purchasing an additional 63,261 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, insider Dana Zimmer sold 4,008 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $187.46, for a total value of $751,339.68. Following the transaction, the insider owned 1,792 shares of the company's stock, valued at approximately $335,928.32. This represents a 69.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Michael Biard sold 2,465 shares of the company's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $185.82, for a total value of $458,046.30. Following the completion of the transaction, the chief operating officer directly owned 20,890 shares in the company, valued at approximately $3,881,779.80. This represents a 10.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 6,773 shares of company stock valued at $1,265,426 over the last three months. 7.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

Nexstar Media Group Stock Down 0.5%

NASDAQ:NXST traded down $0.83 during trading hours on Tuesday, reaching $169.69. 137,203 shares of the company traded hands, compared to its average volume of 383,905. The business's 50-day moving average price is $182.96 and its two-hundred day moving average price is $193.06. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 5.09. The stock has a market capitalization of $5.23 billion, a P/E ratio of 32.64 and a beta of 0.90. Nexstar Media Group, Inc. has a 1 year low of $154.47 and a 1 year high of $254.30.

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

Nexstar Media Group Announces Dividend

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

About Nexstar Media Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.