State of Michigan Retirement System reduced its position in Nexstar Media Group, Inc. (NASDAQ:NXST – Free Report) by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,500 shares of the company’s stock after selling 100 shares during the quarter. State of Michigan Retirement System’s holdings in Nexstar Media Group were worth $1,640,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of NXST. Raymond James Financial Services Advisors Inc. grew its holdings in Nexstar Media Group by 4.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 1,619 shares of the company’s stock worth $305,000 after purchasing an additional 62 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Nexstar Media Group by 11.7% during the first quarter. Bank of Montreal Can now owns 23,877 shares of the company’s stock worth $4,522,000 after buying an additional 2,510 shares during the period. MetLife Investment Management LLC acquired a new stake in shares of Nexstar Media Group during the first quarter worth $171,000. BlackRock Inc. lifted its stake in shares of Nexstar Media Group by 0.7% during the first quarter. BlackRock Inc. now owns 1,714,944 shares of the company’s stock worth $323,233,000 after buying an additional 12,720 shares during the period. Finally, Great West Life Assurance Co. Can lifted its stake in shares of Nexstar Media Group by 19.1% during the first quarter. Great West Life Assurance Co. Can now owns 3,606 shares of the company’s stock worth $714,000 after buying an additional 579 shares during the period. 97.44% of the stock is owned by hedge funds and other institutional investors.
Nexstar Media Group Trading Down 1.7 %
NASDAQ NXST opened at $180.33 on Friday. The company has a market capitalization of $6.47 billion, a PE ratio of 8.53, a P/E/G ratio of 1.37 and a beta of 1.48. The company has a fifty day moving average of $165.39 and a 200 day moving average of $174.90. Nexstar Media Group, Inc. has a 1 year low of $148.00 and a 1 year high of $217.76. The company has a debt-to-equity ratio of 2.56, a current ratio of 1.97 and a quick ratio of 1.97.
Nexstar Media Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 26th. Shareholders of record on Friday, May 12th were given a $1.35 dividend. The ex-dividend date was Thursday, May 11th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.99%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 25.56%.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the stock. Guggenheim lifted their price objective on shares of Nexstar Media Group from $216.00 to $220.00 in a research note on Thursday, June 29th. StockNews.com assumed coverage on shares of Nexstar Media Group in a research note on Thursday, May 18th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $219.40.
Insiders Place Their Bets
In other news, CFO Lee Ann Gliha sold 317 shares of the business’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $158.82, for a total transaction of $50,345.94. Following the completion of the sale, the chief financial officer now owns 2,886 shares of the company’s stock, valued at $458,354.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Lee Ann Gliha sold 317 shares of the business’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $158.82, for a total transaction of $50,345.94. Following the completion of the sale, the chief financial officer now owns 2,886 shares of the company’s stock, valued at $458,354.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Thomas Carter sold 10,000 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $157.85, for a total transaction of $1,578,500.00. Following the sale, the chief operating officer now directly owns 78,568 shares of the company’s stock, valued at approximately $12,401,958.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,443 shares of company stock worth $4,778,645. Company insiders own 5.90% of the company’s stock.
Nexstar Media Group Company Profile
Nexstar Media Group, Inc, a television broadcasting and digital media company, focuses on the acquisition, development, and operation of television stations and interactive community websites and digital media services in the United States. The company offers free programming to television viewing audiences.
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