Public Employees Retirement System of Ohio Cuts Holdings in Nexstar Media Group Inc (NASDAQ:NXST)

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Public Employees Retirement System of Ohio decreased its position in Nexstar Media Group Inc (NASDAQ:NXST) by 20.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,528 shares of the company’s stock after selling 4,183 shares during the period. Public Employees Retirement System of Ohio’s holdings in Nexstar Media Group were worth $1,669,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Synovus Financial Corp purchased a new position in Nexstar Media Group in the first quarter valued at $54,000. FNY Investment Advisers LLC acquired a new stake in shares of Nexstar Media Group in the second quarter valued at about $80,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Nexstar Media Group in the second quarter valued at about $116,000. Resources Investment Advisors LLC. acquired a new stake in shares of Nexstar Media Group in the second quarter valued at about $119,000. Finally, State of Alaska Department of Revenue grew its position in shares of Nexstar Media Group by 125.8% in the second quarter. State of Alaska Department of Revenue now owns 1,384 shares of the company’s stock valued at $139,000 after purchasing an additional 771 shares during the period. 99.62% of the stock is owned by institutional investors.

A number of equities analysts recently weighed in on NXST shares. ValuEngine lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Evercore ISI restated a “buy” rating and set a $116.00 price target on shares of Nexstar Media Group in a research report on Thursday, August 8th. Zacks Investment Research lowered shares of Nexstar Media Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Barrington Research restated a “buy” rating and set a $135.00 price target on shares of Nexstar Media Group in a research report on Wednesday, August 7th. Finally, Stephens set a $150.00 price target on shares of Nexstar Media Group and gave the stock a “buy” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $127.71.

In other Nexstar Media Group news, Director Dennis Miller sold 625 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $102.17, for a total value of $63,856.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 6.40% of the company’s stock.

NXST traded down $1.13 on Thursday, reaching $102.10. 7,570 shares of the company’s stock were exchanged, compared to its average volume of 462,569. The stock has a market cap of $4.70 billion, a PE ratio of 11.99, a P/E/G ratio of 1.74 and a beta of 1.51. Nexstar Media Group Inc has a twelve month low of $70.09 and a twelve month high of $119.93. The stock’s fifty day moving average price is $98.14 and its 200-day moving average price is $104.54. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.57 and a quick ratio of 1.57.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.04. The firm had revenue of $649.01 million for the quarter, compared to analyst estimates of $653.00 million. Nexstar Media Group had a net margin of 13.61% and a return on equity of 21.05%. Nexstar Media Group’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.86 earnings per share. As a group, research analysts predict that Nexstar Media Group Inc will post 6.17 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a $0.45 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.80 annualized dividend and a yield of 1.76%. Nexstar Media Group’s payout ratio is 21.08%.

Nexstar Media Group Profile

Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. The company focuses on the acquisition, development, and operation of television stations and interactive community Websites in small and medium-sized markets. It offers free over-the-air programming to television viewing audiences.

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Institutional Ownership by Quarter for Nexstar Media Group (NASDAQ:NXST)

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