State of Alaska Department of Revenue decreased its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 43.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 12,413 shares of the company's stock after selling 9,386 shares during the quarter. State of Alaska Department of Revenue's holdings in Nexstar Media Group were worth $2,223,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. KLP Kapitalforvaltning AS bought a new stake in shares of Nexstar Media Group in the 4th quarter worth about $1,264,000. Bank of New York Mellon Corp grew its holdings in Nexstar Media Group by 5.0% during the 4th quarter. Bank of New York Mellon Corp now owns 403,728 shares of the company's stock worth $63,777,000 after acquiring an additional 19,116 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Nexstar Media Group by 97.9% during the 4th quarter. Victory Capital Management Inc. now owns 40,711 shares of the company's stock worth $6,431,000 after acquiring an additional 20,140 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Nexstar Media Group by 3.6% during the 4th quarter. Janus Henderson Group PLC now owns 14,074 shares of the company's stock worth $2,223,000 after acquiring an additional 494 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in Nexstar Media Group by 68.6% during the 1st quarter. UMB Bank n.a. now owns 536 shares of the company's stock worth $96,000 after acquiring an additional 218 shares during the last quarter. Institutional investors own 95.30% of the company's stock.
Insiders Place Their Bets
In other news, EVP Lee Ann Gliha sold 757 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total value of $125,094.25. Following the completion of the transaction, the executive vice president now owns 12,826 shares of the company's stock, valued at $2,119,496.50. The trade was a 5.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Michael Biard sold 2,182 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $173.59, for a total transaction of $378,773.38. Following the completion of the transaction, the chief operating officer now directly owns 7,218 shares of the company's stock, valued at $1,252,972.62. This trade represents a 23.21% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,242 shares of company stock worth $4,352,688. Company insiders own 6.70% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the stock. Wall Street Zen lowered shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Wells Fargo & Company decreased their price objective on shares of Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Rosenblatt Securities reissued a "buy" rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Monday, March 10th. Loop Capital raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating and raised their target price for the company from $190.00 to $200.00 in a research note on Friday, February 28th. Finally, Guggenheim lifted their price target on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Nexstar Media Group presently has an average rating of "Moderate Buy" and a consensus price target of $205.71.
Check Out Our Latest Stock Analysis on Nexstar Media Group
Nexstar Media Group Trading Up 3.1%
NASDAQ:NXST opened at $171.79 on Monday. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 2.86. Nexstar Media Group, Inc. has a 1-year low of $141.66 and a 1-year high of $191.86. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 8.70, a PEG ratio of 1.26 and a beta of 1.05. The business's 50-day moving average price is $163.22 and its two-hundred day moving average price is $161.89.
Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $3.37 EPS for the quarter, beating analysts' consensus estimates of $3.26 by $0.11. The company had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.23 billion. Nexstar Media Group had a return on equity of 29.21% and a net margin of 12.21%. Nexstar Media Group's revenue was down 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $5.16 EPS. On average, equities analysts expect that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.
Nexstar Media Group Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend was Monday, May 19th. Nexstar Media Group's payout ratio is presently 37.69%.
About Nexstar Media Group
(
Free Report)
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.
Further Reading
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