Nexstar Media Group, Inc. $NXST Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund increased its stake in Nexstar Media Group by 4.1% in Q2, owning 186,045 shares worth $32.18 million. Other institutional investors also modified their holdings. Analysts have given Nexstar a 'Moderate Buy' rating with a consensus target price of $222.38. The stock is trading at $192.24 with a market cap of $5.83 billion. Nexstar reported Q3 earnings of $2.14 per share, missing estimates, with revenue down 12.3% year-over-year.

New York State Common Retirement Fund raised its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 4.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 186,045 shares of the company's stock after purchasing an additional 7,364 shares during the quarter. New York State Common Retirement Fund owned 0.61% of Nexstar Media Group worth $32,176,000 at the end of the most recent quarter.

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Several other hedge funds and other institutional investors have also modified their holdings of NXST. IFP Advisors Inc increased its position in Nexstar Media Group by 375.0% during the 2nd quarter. IFP Advisors Inc now owns 152 shares of the company's stock worth $26,000 after purchasing an additional 120 shares in the last quarter. Allworth Financial LP grew its stake in Nexstar Media Group by 617.2% during the second quarter. Allworth Financial LP now owns 208 shares of the company's stock worth $36,000 after buying an additional 179 shares during the period. LRI Investments LLC purchased a new stake in Nexstar Media Group during the second quarter worth approximately $43,000. Parkside Financial Bank & Trust increased its position in shares of Nexstar Media Group by 70.6% in the second quarter. Parkside Financial Bank & Trust now owns 273 shares of the company's stock worth $47,000 after acquiring an additional 113 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Nexstar Media Group by 2,293.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 383 shares of the company's stock worth $69,000 after acquiring an additional 367 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several equities analysts recently weighed in on NXST shares. Guggenheim lifted their target price on shares of Nexstar Media Group from $220.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Zacks Research raised Nexstar Media Group to a "hold" rating in a research report on Friday, August 8th. Barrington Research restated an "outperform" rating and set a $225.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, August 19th. Benchmark increased their target price on Nexstar Media Group from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Finally, Citigroup dropped their target price on Nexstar Media Group from $218.00 to $204.00 and set a "neutral" rating on the stock in a report on Tuesday, November 25th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Nexstar Media Group presently has an average rating of "Moderate Buy" and a consensus target price of $222.38.

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Nexstar Media Group Trading Up 0.6%

NASDAQ:NXST opened at $192.24 on Monday. The stock has a market cap of $5.83 billion, a price-to-earnings ratio of 9.98, a price-to-earnings-growth ratio of 1.40 and a beta of 0.99. Nexstar Media Group, Inc. has a one year low of $141.66 and a one year high of $223.36. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.69 and a current ratio of 1.69. The business's 50-day simple moving average is $193.65 and its 200 day simple moving average is $188.94.

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Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its quarterly earnings data on Thursday, November 6th. The company reported $2.14 earnings per share for the quarter, missing analysts' consensus estimates of $2.62 by ($0.48). Nexstar Media Group had a net margin of 11.90% and a return on equity of 28.40%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the business earned $5.27 EPS. Nexstar Media Group's revenue for the quarter was down 12.3% compared to the same quarter last year. As a group, sell-side analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Wednesday, November 12th. Nexstar Media Group's payout ratio is currently 46.13%.

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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