California State Teachers Retirement System Raises Stock Holdings in Nexstar Media Group, Inc. $NXST

California State Teachers Retirement System grew its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 15.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,605 shares of the company’s stock after acquiring an additional 4,456 shares during the quarter. California State Teachers Retirement System’s holdings in Nexstar Media Group were worth $6,077,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NXST. QVT Financial LP grew its position in Nexstar Media Group by 200.0% during the 4th quarter. QVT Financial LP now owns 155,281 shares of the company’s stock worth $31,530,000 after purchasing an additional 310,562 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Nexstar Media Group by 118.1% during the second quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock worth $93,795,000 after buying an additional 294,308 shares during the period. Norges Bank acquired a new stake in shares of Nexstar Media Group during the fourth quarter worth about $41,474,000. Alliancebernstein L.P. grew its holdings in shares of Nexstar Media Group by 27.1% during the second quarter. Alliancebernstein L.P. now owns 882,322 shares of the company’s stock worth $152,598,000 after buying an additional 187,864 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Nexstar Media Group by 104.2% during the fourth quarter. Millennium Management LLC now owns 319,376 shares of the company’s stock worth $64,849,000 after buying an additional 162,963 shares during the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Nexstar Media Group Stock Down 3.2%

Nexstar Media Group stock opened at $190.03 on Thursday. Nexstar Media Group, Inc. has a fifty-two week low of $154.47 and a fifty-two week high of $254.30. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of 40.78, a price-to-earnings-growth ratio of 0.52 and a beta of 0.91. The stock’s fifty day moving average is $178.96 and its two-hundred day moving average is $201.13. The company has a debt-to-equity ratio of 5.53, a quick ratio of 1.76 and a current ratio of 1.76.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a dividend of $1.86 per share. The ex-dividend date is Friday, August 14th. This represents a $7.44 dividend on an annualized basis and a yield of 3.9%. Nexstar Media Group’s payout ratio is presently 159.66%.

Analyst Upgrades and Downgrades

NXST has been the subject of several analyst reports. Citigroup raised Nexstar Media Group from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $252.00 to $220.00 in a research note on Friday, April 10th. Deutsche Bank Aktiengesellschaft dropped their target price on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Wells Fargo & Company decreased their price target on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Barrington Research reiterated an “outperform” rating and issued a $290.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $259.67.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, insider Sean Compton sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $196.00, for a total value of $980,000.00. Following the sale, the insider owned 11,252 shares of the company’s stock, valued at $2,205,392. This represents a 30.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dana Zimmer sold 915 shares of Nexstar Media Group stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $176.42, for a total value of $161,424.30. Following the transaction, the insider owned 5,738 shares of the company’s stock, valued at $1,012,297.96. This represents a 13.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 22,813 shares of company stock valued at $4,174,731 in the last quarter. 7.00% of the stock is owned by corporate insiders.

Nexstar Media Group 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.