Teachers Retirement System of The State of Kentucky Has $1.89 Million Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Teachers Retirement System of The State of Kentucky cut its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 2.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,412 shares of the company’s stock after selling 270 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Nexstar Media Group were worth $1,887,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. CX Institutional raised its stake in shares of Nexstar Media Group by 5.0% during the 3rd quarter. CX Institutional now owns 1,396 shares of the company’s stock worth $231,000 after purchasing an additional 67 shares in the last quarter. Blue Trust Inc. increased its holdings in Nexstar Media Group by 7.3% during the third quarter. Blue Trust Inc. now owns 1,088 shares of the company’s stock worth $181,000 after buying an additional 74 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. raised its position in Nexstar Media Group by 0.6% during the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,903 shares of the company’s stock worth $2,308,000 after acquiring an additional 87 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in Nexstar Media Group by 2.3% in the second quarter. SummerHaven Investment Management LLC now owns 4,217 shares of the company’s stock valued at $700,000 after acquiring an additional 96 shares during the last quarter. Finally, Natixis Advisors LLC grew its position in shares of Nexstar Media Group by 1.2% in the 3rd quarter. Natixis Advisors LLC now owns 10,185 shares of the company’s stock valued at $1,684,000 after acquiring an additional 117 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Nexstar Media Group news, CEO Perry A. Sook sold 12,239 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $190.28, for a total transaction of $2,328,836.92. Following the sale, the chief executive officer now directly 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 SEC, which is available at the SEC website. Also, Director Charles Thomas Mcmillen sold 250 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $164.44, for a total transaction of $41,110.00. Following the completion of the transaction, the director now owns 7,725 shares of the company’s stock, valued at $1,270,299. The trade was a 3.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,798 shares of company stock worth $7,656,704 in the last quarter. Corporate insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

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

Nexstar Media Group Stock Performance

NASDAQ:NXST opened at $163.33 on Tuesday. The stock has a 50 day simple moving average of $170.10 and a 200 day simple moving average of $167.47. The stock has a market cap of $5.07 billion, a P/E ratio of 9.45, a PEG ratio of 0.20 and a beta of 1.45. Nexstar Media Group, Inc. has a 1-year low of $147.25 and a 1-year high of $191.86. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the business posted $0.70 EPS. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. Research analysts anticipate that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend was Friday, November 15th. Nexstar Media Group’s dividend payout ratio is currently 39.10%.

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.