Retirement Systems of Alabama Sells 1,659 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Retirement Systems of Alabama lowered its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 4.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,834 shares of the company’s stock after selling 1,659 shares during the quarter. Retirement Systems of Alabama owned approximately 0.12% of Nexstar Media Group worth $6,091,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Brooklyn Investment Group bought a new position in shares of Nexstar Media Group during the 3rd quarter worth $25,000. Whittier Trust Co. bought a new position in Nexstar Media Group during the 2nd quarter worth about $27,000. True Wealth Design LLC purchased a new position in Nexstar Media Group during the 3rd quarter valued at about $30,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Nexstar Media Group in the 3rd quarter valued at about $33,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Nexstar Media Group by 3,700.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock worth $44,000 after purchasing an additional 259 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Nexstar Media Group

In related news, CEO Perry A. Sook sold 12,239 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $190.28, for a total value of $2,328,836.92. Following the sale, the chief executive officer now owns 674,694 shares in the company, valued at $128,380,774.32. This represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew Alford sold 3,175 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $167.82, for a total transaction of $532,828.50. Following the completion of the transaction, the insider now owns 9,173 shares in the company, valued at approximately $1,539,412.86. This trade represents a 25.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,221 shares of company stock valued at $11,184,773 in the last ninety days. Company insiders own 6.30% of the company’s stock.

Nexstar Media Group Trading Down 1.5 %

Nexstar Media Group stock opened at $158.98 on Thursday. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The stock has a market cap of $4.93 billion, a PE ratio of 9.19, a price-to-earnings-growth ratio of 0.20 and a beta of 1.45. The stock has a 50-day moving average of $170.07 and a two-hundred day moving average of $167.44. Nexstar Media Group, Inc. has a one year low of $147.25 and a one year high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing the consensus estimate of $5.51 by ($0.24). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the business earned $0.70 earnings per share. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, research analysts anticipate that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend was Friday, November 15th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 39.10%.

Analyst Upgrades and Downgrades

NXST has been the subject of a number of recent research reports. Loop Capital downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $200.00 to $190.00 in a research note on Friday, November 8th. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Benchmark reaffirmed a “buy” rating and set a $215.00 price objective on shares of Nexstar Media Group in a research report on Friday, November 8th. Barrington Research reiterated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, November 7th. Finally, Guggenheim decreased their price target on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research report on Friday, October 4th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.29.

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.