Teachers Retirement System of The State of Kentucky Decreases Stake in Nexstar Media Group, Inc. $NXST

by · The Markets Daily

Teachers Retirement System of The State of Kentucky trimmed its position in Nexstar Media Group, Inc. (NASDAQ:NXST – Free Report) by 18.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,902 shares of the company’s stock after selling 2,050 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Nexstar Media Group were worth $1,760,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NXST. AQR Capital Management LLC raised its stake in Nexstar Media Group by 118.1% in the second quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock valued at $93,795,000 after buying an additional 294,308 shares in the last quarter. Norges Bank purchased a new stake in Nexstar Media Group during the second quarter worth approximately $46,461,000. JPMorgan Chase & Co. boosted its holdings in Nexstar Media Group by 157.2% in the third quarter. JPMorgan Chase & Co. now owns 374,027 shares of the company’s stock valued at $73,960,000 after purchasing an additional 228,603 shares in the last quarter. Hennessy Advisors Inc. purchased a new position in Nexstar Media Group in the third quarter valued at approximately $40,023,000. Finally, Principal Financial Group Inc. raised its holdings in Nexstar Media Group by 63.0% during the third quarter. Principal Financial Group Inc. now owns 488,292 shares of the company’s stock worth $96,557,000 after purchasing an additional 188,695 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NXST. Barrington Research reaffirmed an “outperform” rating and issued a $290.00 target price on shares of Nexstar Media Group in a research report on Tuesday. Guggenheim raised their price objective on Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Deutsche Bank Aktiengesellschaft lifted their target price on Nexstar Media Group from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Citigroup raised their price target on Nexstar Media Group from $204.00 to $252.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Benchmark boosted their price objective on Nexstar Media Group from $250.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $267.43.

Get Our Latest Research Report on NXST

Nexstar Media Group Trading Up 3.3%

Shares of NXST stock opened at $253.64 on Friday. The company has a market capitalization of $7.69 billion, a P/E ratio of 86.27, a price-to-earnings-growth ratio of 0.96 and a beta of 0.79. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 3.05. The business’s 50 day moving average is $221.27 and its two-hundred day moving average is $206.01. Nexstar Media Group, Inc. has a twelve month low of $141.66 and a twelve month high of $254.30.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were issued a $1.86 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $7.44 annualized dividend and a dividend yield of 2.9%. Nexstar Media Group’s payout ratio is presently 253.06%.

About Nexstar Media Group

(Free Report)

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.

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