California Public Employees Retirement System cut its holdings in Nexstar Media Group Inc (NASDAQ:NXST) by 2.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 72,325 shares of the company’s stock after selling 1,486 shares during the period. California Public Employees Retirement System owned about 0.16% of Nexstar Media Group worth $4,506,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Rovida Advisors Inc. boosted its position in Nexstar Media Group by 940.8% during the third quarter. Rovida Advisors Inc. now owns 506,743 shares of the company’s stock worth $31,570,000 after purchasing an additional 458,055 shares during the period. Royal Bank of Canada boosted its position in Nexstar Media Group by 62.0% during the second quarter. Royal Bank of Canada now owns 1,071,694 shares of the company’s stock worth $64,089,000 after purchasing an additional 410,332 shares during the period. Deprince Race & Zollo Inc. bought a new stake in shares of Nexstar Media Group in the third quarter valued at about $22,069,000. Vaughan Nelson Investment Management L.P. boosted its position in shares of Nexstar Media Group by 24.7% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,538,285 shares of the company’s stock valued at $95,834,000 after acquiring an additional 304,610 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of Nexstar Media Group by 1,196.5% in the third quarter. Russell Investments Group Ltd. now owns 328,593 shares of the company’s stock valued at $20,471,000 after acquiring an additional 303,248 shares during the period.
In other news, Director Lisbeth Mcnabb sold 5,000 shares of the firm’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $79.61, for a total transaction of $398,050.00. Following the completion of the sale, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $398,050. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Timothy C. Busch sold 10,000 shares of Nexstar Media Group stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $79.13, for a total value of $791,300.00. Following the completion of the sale, the insider now directly owns 50,214 shares of the company’s stock, valued at approximately $3,973,433.82. The disclosure for this sale can be found here. Insiders sold a total of 340,610 shares of company stock valued at $22,968,294 over the last three months. 7.80% of the stock is currently owned by insiders.
A number of equities research analysts have recently issued reports on the stock. BidaskClub cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Thursday, January 25th. Zacks Investment Research raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research report on Tuesday. FBR & Co began coverage on Nexstar Media Group in a research note on Tuesday, October 31st. They set a “buy” rating and a $79.00 target price for the company. Guggenheim began coverage on Nexstar Media Group in a research note on Wednesday, October 18th. They set a “buy” rating and a $90.00 target price for the company. Finally, B. Riley reissued a “buy” rating and set a $79.00 target price on shares of Nexstar Media Group in a research note on Wednesday, November 1st. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $87.30.
Nexstar Media Group Inc (NXST) traded up $1.10 during trading on Thursday, hitting $76.20. The company’s stock had a trading volume of 491,858 shares, compared to its average volume of 588,798. Nexstar Media Group Inc has a 52-week low of $55.95 and a 52-week high of $82.95. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.35 and a quick ratio of 1.35. The company has a market cap of $3,545.04, a PE ratio of 28.65, a price-to-earnings-growth ratio of 0.75 and a beta of 2.21.
Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Monday, November 6th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.09. The company had revenue of $611.87 million for the quarter, compared to analysts’ expectations of $609.44 million. Nexstar Media Group had a return on equity of 16.20% and a net margin of 5.60%. Nexstar Media Group’s quarterly revenue was up 122.0% compared to the same quarter last year. During the same period last year, the business earned $0.78 EPS. sell-side analysts expect that Nexstar Media Group Inc will post 3.46 earnings per share for the current fiscal year.
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About Nexstar Media Group
Nexstar Media Group, Inc, formerly Nexstar Broadcasting Group, Inc, is a television broadcasting and digital media company. The Company is focused on the acquisition, development and operation of television stations and interactive community Websites, and digital media services in medium-sized markets in the United States.
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