Sei Investments Co. Purchases 11,475 Shares of Nexstar Media Group, Inc. $NXST

Sei Investments Co. raised its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 11.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 111,340 shares of the company’s stock after purchasing an additional 11,475 shares during the period. Sei Investments Co.’s holdings in Nexstar Media Group were worth $20,128,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Parallel Advisors LLC lifted its stake in shares of Nexstar Media Group by 47.1% during the 1st quarter. Parallel Advisors LLC now owns 728 shares of the company’s stock worth $132,000 after purchasing an additional 233 shares during the last quarter. California Public Employees Retirement System grew its stake in Nexstar Media Group by 5.4% in the first quarter. California Public Employees Retirement System now owns 58,092 shares of the company’s stock valued at $10,505,000 after purchasing an additional 2,960 shares during the last quarter. Assetmark Inc. raised its holdings in Nexstar Media Group by 15.1% in the first quarter. Assetmark Inc. now owns 49,770 shares of the company’s stock worth $9,000,000 after purchasing an additional 6,539 shares in the last quarter. Signet Financial Management LLC raised its holdings in Nexstar Media Group by 53.5% in the first quarter. Signet Financial Management LLC now owns 3,129 shares of the company’s stock worth $566,000 after purchasing an additional 1,091 shares in the last quarter. Finally, State of Michigan Retirement System lifted its position in shares of Nexstar Media Group by 3.0% during the first quarter. State of Michigan Retirement System now owns 6,900 shares of the company’s stock valued at $1,248,000 after buying an additional 200 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Stock Up 1.6%

NXST stock opened at $196.94 on Thursday. The stock has a market capitalization of $6.01 billion, a PE ratio of 42.26, a price-to-earnings-growth ratio of 0.52 and a beta of 0.91. Nexstar Media Group, Inc. has a 52 week low of $154.47 and a 52 week high of $254.30. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53. The firm has a 50 day moving average of $178.52 and a 200 day moving average of $201.79.

Analyst Ratings Changes

Several equities research analysts have weighed in on NXST shares. Weiss Ratings restated a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Citigroup upgraded Nexstar Media Group from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $252.00 to $220.00 in a report on Friday, April 10th. Deutsche Bank Aktiengesellschaft lowered their price objective on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Benchmark dropped their target price on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $290.00 target price on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $259.67.

Insiders Place Their Bets

In other news, insider Dana Zimmer sold 915 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $176.42, for a total transaction of $161,424.30. Following the sale, the insider directly owned 5,738 shares of the company’s stock, valued at $1,012,297.96. The trade was a 13.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Michael Biard sold 1,227 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $174.21, for a total value of $213,755.67. Following the completion of the transaction, the chief operating officer directly owned 17,105 shares in the company, valued at approximately $2,979,862.05. The trade was a 6.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 22,813 shares of company stock valued at $4,174,731. Corporate insiders own 7.00% of the company’s stock.

Nexstar Media Group Company Profile

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.