KBC Group NV Boosts Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

KBC Group NV raised its stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 1,801.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,230 shares of the company's stock after purchasing an additional 16,324 shares during the period. KBC Group NV owned 0.06% of Nexstar Media Group worth $2,722,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NXST. Charles Schwab Investment Management Inc. increased its position in Nexstar Media Group by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company's stock valued at $179,149,000 after buying an additional 7,117 shares in the last quarter. Copeland Capital Management LLC grew its stake in Nexstar Media Group by 18.1% in the third quarter. Copeland Capital Management LLC now owns 547,728 shares of the company's stock valued at $90,567,000 after acquiring an additional 83,829 shares during the period. New York State Common Retirement Fund increased its holdings in shares of Nexstar Media Group by 6.1% during the third quarter. New York State Common Retirement Fund now owns 189,673 shares of the company's stock valued at $31,362,000 after acquiring an additional 10,938 shares in the last quarter. Capital Management Corp VA raised its position in shares of Nexstar Media Group by 2.7% during the third quarter. Capital Management Corp VA now owns 162,295 shares of the company's stock worth $26,835,000 after purchasing an additional 4,258 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Nexstar Media Group by 5.8% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 111,905 shares of the company's stock worth $18,504,000 after purchasing an additional 6,101 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Insider Buying and Selling

In related news, CEO Perry A. Sook sold 12,239 shares of the business's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $190.28, for a total value of $2,328,836.92. Following the sale, the chief executive officer now directly owns 674,694 shares in the company, valued at approximately $128,380,774.32. The trade was a 1.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Charles Thomas Mcmillen sold 750 shares of the stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $159.93, for a total transaction of $119,947.50. Following the transaction, the director now owns 6,975 shares of the company's stock, valued at $1,115,511.75. This represents a 9.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 146,448 shares of company stock valued at $23,828,076. 6.30% of the stock is owned by company insiders.

Nexstar Media Group Stock Performance

NXST stock traded up $1.66 during midday trading on Tuesday, hitting $153.89. The company's stock had a trading volume of 264,147 shares, compared to its average volume of 277,629. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 8.90, a PEG ratio of 0.25 and a beta of 1.45. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The stock's 50-day moving average price is $160.10 and its 200 day moving average price is $165.89. Nexstar Media Group, Inc. has a 1 year low of $147.25 and a 1 year high of $191.86.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing analysts' consensus estimates of $5.51 by ($0.24). The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. Nexstar Media Group's quarterly revenue was up 20.7% compared to the same quarter last year. During the same period last year, the firm posted $0.70 earnings per share. On average, equities analysts forecast that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.

Nexstar Media Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be paid a dividend of $1.86 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $7.44 annualized dividend and a dividend yield of 4.83%. This is a positive change from Nexstar Media Group's previous quarterly dividend of $1.69. Nexstar Media Group's dividend payout ratio (DPR) is presently 39.10%.

Analyst Upgrades and Downgrades

NXST has been the topic of several research reports. Guggenheim restated a "buy" rating on shares of Nexstar Media Group in a report on Wednesday, January 22nd. StockNews.com upgraded shares of Nexstar Media Group from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Benchmark reiterated a "buy" rating and set a $215.00 price target on shares of Nexstar Media Group in a research note on Friday, November 8th. Barrington Research reissued an "outperform" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, November 7th. Finally, Loop Capital cut Nexstar Media Group from a "buy" rating to a "hold" rating and cut their target price for the company from $200.00 to $190.00 in a research report on Friday, November 8th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $204.29.

About Nexstar Media Group

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.