KLP Kapitalforvaltning AS Takes $1.26 Million Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

KLP Kapitalforvaltning AS bought a new position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 8,000 shares of the company's stock, valued at approximately $1,264,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. BNP Paribas Financial Markets increased its stake in Nexstar Media Group by 67.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 26,239 shares of the company's stock worth $4,339,000 after purchasing an additional 10,603 shares during the period. SGL Investment Advisors Inc. bought a new stake in Nexstar Media Group during the 3rd quarter valued at $3,758,000. Holocene Advisors LP raised its holdings in Nexstar Media Group by 680.9% during the 3rd quarter. Holocene Advisors LP now owns 17,219 shares of the company's stock valued at $2,847,000 after buying an additional 15,014 shares during the last quarter. KBC Group NV boosted its position in Nexstar Media Group by 1,801.8% during the 4th quarter. KBC Group NV now owns 17,230 shares of the company's stock valued at $2,722,000 after buying an additional 16,324 shares during the period. Finally, Entropy Technologies LP bought a new stake in Nexstar Media Group in the 4th quarter worth $506,000. 95.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NXST shares. StockNews.com lowered shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Rosenblatt Securities reiterated a "buy" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Monday, March 10th. Loop Capital upgraded Nexstar Media Group from a "hold" rating to a "buy" rating and upped their target price for the company from $190.00 to $200.00 in a report on Friday, February 28th. Benchmark lifted their price target on shares of Nexstar Media Group from $200.00 to $225.00 and gave the company a "buy" rating in a report on Friday, February 28th. Finally, Barrington Research reissued an "outperform" rating and set a $200.00 price objective on shares of Nexstar Media Group in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $208.43.

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Nexstar Media Group Stock Down 8.2 %

Shares of NASDAQ:NXST traded down $14.90 during midday trading on Thursday, reaching $166.96. The company's stock had a trading volume of 784,449 shares, compared to its average volume of 355,728. 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 firm has a 50 day moving average of $164.15 and a 200-day moving average of $164.98. The firm has a market capitalization of $5.09 billion, a P/E ratio of 9.66, a PEG ratio of 0.45 and a beta of 1.09. Nexstar Media Group, Inc. has a 12-month low of $146.04 and a 12-month high of $191.86.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $7.56 earnings per share for the quarter, missing analysts' consensus estimates of $9.22 by ($1.66). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The business had revenue of $1.49 billion during the quarter, compared to analysts' expectations of $1.48 billion. On average, research analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 4.46%. The ex-dividend date of this dividend was Wednesday, February 12th. This is a positive change from Nexstar Media Group's previous quarterly dividend of $1.69. Nexstar Media Group's payout ratio is currently 34.56%.

Insider Transactions at Nexstar Media Group

In other news, Director Charles Thomas Mcmillen sold 2,000 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $169.51, for a total transaction of $339,020.00. Following the sale, the director now owns 4,975 shares of the company's stock, valued at $843,312.25. This trade represents a 28.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Andrew Alford sold 3,768 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total transaction of $685,700.64. Following the transaction, the insider now directly owns 5,405 shares of the company's stock, valued at $983,601.90. The trade was a 41.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,105 shares of company stock valued at $6,722,463 in the last quarter. 6.30% of the stock is owned by insiders.

Nexstar Media Group Profile

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.