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

Teacher Retirement System of Texas raised its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 22.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,352 shares of the company's stock after acquiring an additional 3,748 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.07% of Nexstar Media Group worth $3,647,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NXST. Cambridge Investment Research Advisors Inc. grew its position in shares of Nexstar Media Group by 1.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 34,484 shares of the company's stock worth $6,180,000 after buying an additional 624 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Nexstar Media Group in the fourth quarter valued at $1,264,000. Victory Capital Management Inc. raised its holdings in Nexstar Media Group by 97.9% in the 4th quarter. Victory Capital Management Inc. now owns 40,711 shares of the company's stock worth $6,431,000 after purchasing an additional 20,140 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Nexstar Media Group by 3.6% in the 4th quarter. Janus Henderson Group PLC now owns 14,074 shares of the company's stock worth $2,223,000 after purchasing an additional 494 shares during the period. Finally, UMB Bank n.a. boosted its stake in shares of Nexstar Media Group by 68.6% during the 1st quarter. UMB Bank n.a. now owns 536 shares of the company's stock valued at $96,000 after purchasing an additional 218 shares in the last quarter. 95.30% of the stock is owned by institutional investors.

Nexstar Media Group Price Performance

NXST opened at $183.51 on Wednesday. The firm has a market cap of $5.60 billion, a PE ratio of 9.30, a P/E/G ratio of 1.30 and a beta of 1.04. The stock has a 50-day moving average price of $169.63 and a 200-day moving average price of $163.00. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $191.86. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.74 and a quick ratio of 1.74.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the firm earned $5.16 earnings per share. The firm's quarterly revenue was down 3.9% compared to the same quarter last year. Sell-side analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a $1.86 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $7.44 annualized dividend and a yield of 4.05%. Nexstar Media Group's payout ratio is 37.69%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wells Fargo & Company lowered their price objective on shares of Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Barrington Research restated an "outperform" rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Tuesday, May 13th. Finally, Benchmark decreased their price objective on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $205.71.

Insiders Place Their Bets

In related news, insider Sean Compton sold 1,088 shares of the stock in a transaction that occurred on 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 owned 12,096 shares in the company, valued at $2,123,210.88. This represents a 8.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael Biard sold 2,182 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $173.59, for a total value of $378,773.38. Following the sale, the chief operating officer owned 7,218 shares of the company's stock, valued at approximately $1,252,972.62. This trade represents a 23.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,474 shares of company stock worth $3,666,988 in the last 90 days. Corporate insiders own 6.70% of the company's stock.

Nexstar Media Group Company 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.

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