New York State Teachers Retirement System Lowers Holdings in Nexstar Media Group, Inc. $NXST

New York State Teachers Retirement System cut its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 2.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,617 shares of the company’s stock after selling 200 shares during the period. New York State Teachers Retirement System’s holdings in Nexstar Media Group were worth $1,490,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Caitlin John LLC bought a new stake in Nexstar Media Group in the 2nd quarter worth approximately $263,000. Lynx Investment Advisory bought a new stake in Nexstar Media Group in the 1st quarter worth approximately $311,000. D.A. Davidson & CO. bought a new stake in Nexstar Media Group in the 1st quarter worth approximately $323,000. Wedge Capital Management L L P NC increased its stake in Nexstar Media Group by 110.7% in the 2nd quarter. Wedge Capital Management L L P NC now owns 29,751 shares of the company’s stock worth $5,145,000 after acquiring an additional 15,628 shares during the last quarter. Finally, Crossmark Global Holdings Inc. bought a new stake in Nexstar Media Group in the 1st quarter worth approximately $219,000. Institutional investors own 95.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Barrington Research reaffirmed an “outperform” rating and issued a $225.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, August 19th. Guggenheim lifted their price objective on Nexstar Media Group from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Zacks Research upgraded Nexstar Media Group to a “hold” rating in a report on Friday, August 8th. Weiss Ratings restated a “buy (b)” rating on shares of Nexstar Media Group in a report on Wednesday, October 8th. Finally, Benchmark increased their price target on Nexstar Media Group from $220.00 to $225.00 and gave the company a “buy” rating in a report on Friday, August 8th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and an average target price of $225.00.

Nexstar Media Group Stock Performance

NASDAQ:NXST opened at $193.99 on Thursday. The stock’s fifty day moving average is $201.82 and its 200 day moving average is $181.52. The firm has a market capitalization of $5.88 billion, a PE ratio of 10.07, a PEG ratio of 1.46 and a beta of 1.01. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.69 and a current ratio of 1.69. Nexstar Media Group, Inc. has a fifty-two week low of $141.66 and a fifty-two week high of $223.36.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, August 7th. The company reported $3.06 EPS for the quarter, beating the consensus estimate of $2.95 by $0.11. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.21 billion. Nexstar Media Group had a return on equity of 28.40% and a net margin of 11.90%.Nexstar Media Group’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.54 EPS. On average, sell-side analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Friday, August 15th. Nexstar Media Group’s dividend payout ratio is 38.63%.

About Nexstar Media Group

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.