Strs Ohio purchased a new position in Nexstar Media Group, Inc. (NASDAQ:NXST – Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,821 shares of the company’s stock, valued at approximately $1,222,000.
A number of other institutional investors have also bought and sold shares of the business. Glassy Mountain Advisors Inc. increased its stake in Nexstar Media Group by 0.4% in the 1st quarter. Glassy Mountain Advisors Inc. now owns 20,497 shares of the company’s stock worth $3,674,000 after buying an additional 73 shares in the last quarter. HighPoint Advisor Group LLC increased its stake in Nexstar Media Group by 5.0% in the 1st quarter. HighPoint Advisor Group LLC now owns 1,930 shares of the company’s stock worth $346,000 after buying an additional 92 shares in the last quarter. State of Michigan Retirement System grew its position in shares of Nexstar Media Group by 1.4% during the first quarter. State of Michigan Retirement System now owns 7,000 shares of the company’s stock valued at $1,255,000 after purchasing an additional 100 shares in the last quarter. Louisiana State Employees Retirement System grew its position in shares of Nexstar Media Group by 1.2% during the first quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the company’s stock valued at $1,470,000 after purchasing an additional 100 shares in the last quarter. Finally, Focus Partners Wealth grew its position in shares of Nexstar Media Group by 7.3% during the fourth quarter. Focus Partners Wealth now owns 1,726 shares of the company’s stock valued at $273,000 after purchasing an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.
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Nexstar Media Group Stock Up 1.5%
Shares of NASDAQ:NXST opened at $205.92 on Thursday. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 2.80. Nexstar Media Group, Inc. has a 12 month low of $141.66 and a 12 month high of $223.36. The company has a 50-day moving average price of $196.55 and a 200 day moving average price of $177.37. The company has a market cap of $6.24 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 1.51 and a beta of 1.04.
Nexstar Media Group (NASDAQ:NXST – Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.95 by $0.11. Nexstar Media Group had a net margin of 11.90% and a return on equity of 28.40%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the firm earned $3.54 EPS. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, equities research analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.
Nexstar Media Group Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $1.86 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.6%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 38.63%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on the company. Benchmark raised their price objective on Nexstar Media Group from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Guggenheim raised their price objective on Nexstar Media Group from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Barrington Research restated an “outperform” rating and set a $225.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, August 19th. Wells Fargo & Company raised their price objective on Nexstar Media Group from $206.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Finally, Zacks Research upgraded Nexstar Media Group to a “hold” rating in a research report on Friday, August 8th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $225.00.
Get Our Latest Stock Report on NXST
Nexstar Media Group Company Profile
(Free Report)
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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