State of Alaska Department of Revenue Has $2.22 Million Stock Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

State of Alaska Department of Revenue reduced its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 43.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 quarter.

A number of other hedge funds also recently modified their holdings of NXST. SBI Securities Co. Ltd. purchased a new position in Nexstar Media Group during the fourth quarter valued at approximately $25,000. Whipplewood Advisors LLC grew its holdings in shares of Nexstar Media Group by 830.3% during the 1st quarter. Whipplewood Advisors LLC now owns 307 shares of the company's stock valued at $55,000 after acquiring an additional 274 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Nexstar Media Group by 2,126.3% in the first quarter. Versant Capital Management Inc now owns 423 shares of the company's stock worth $76,000 after acquiring an additional 404 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Nexstar Media Group by 68.6% in the first 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. Finally, Jones Financial Companies Lllp raised its holdings in shares of Nexstar Media Group by 15.3% during the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company's stock worth $87,000 after acquiring an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on NXST shares. Benchmark lowered their target price on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Barrington Research reissued an "outperform" rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Tuesday, May 13th. Wells Fargo & Company cut 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 research report on Thursday, May 1st. Rosenblatt Securities reiterated a "buy" rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Monday, March 10th. Finally, Loop Capital raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating and boosted their target price for the stock from $190.00 to $200.00 in a research report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Nexstar Media Group presently has a consensus rating of "Moderate Buy" and an average target price of $205.71.

Nexstar Media Group Stock Performance

Nexstar Media Group stock traded up $2.49 during trading hours on Thursday, reaching $173.28. 214,331 shares of the company were exchanged, compared to its average volume of 377,146. Nexstar Media Group, Inc. has a 12 month low of $141.66 and a 12 month high of $191.86. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 2.86. The stock has a 50-day moving average of $165.12 and a 200 day moving average of $162.12. The firm has a market cap of $5.29 billion, a price-to-earnings ratio of 8.78, a PEG ratio of 1.25 and a beta of 1.05.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.26 by $0.11. Nexstar Media Group had a net margin of 12.21% and a return on equity of 29.21%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the business posted $5.16 EPS. Nexstar Media Group's revenue was down 3.9% compared to the same quarter last year. As a group, research analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend was Monday, May 19th. Nexstar Media Group's payout ratio is 37.69%.

Insider Buying and Selling

In related news, insider Gary Weitman sold 424 shares of Nexstar Media Group stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $175.53, for a total value of $74,424.72. Following the completion of the transaction, the insider now directly owns 5,301 shares of the company's stock, valued at $930,484.53. The trade was a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sean Compton sold 1,088 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $175.53, for a total transaction of $190,976.64. Following the transaction, the insider now owns 12,096 shares in the company, valued at approximately $2,123,210.88. The trade was a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,474 shares of company stock worth $3,666,988 in the last quarter. 6.70% of the stock is owned by corporate insiders.

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.