Handelsbanken Fonder AB Sells 1,200 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Handelsbanken Fonder AB reduced its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 13.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,930 shares of the company’s stock after selling 1,200 shares during the quarter. Handelsbanken Fonder AB’s holdings in Nexstar Media Group were worth $1,253,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group purchased a new stake in Nexstar Media Group in the third quarter worth approximately $25,000. True Wealth Design LLC purchased a new stake in shares of Nexstar Media Group in the 3rd quarter valued at $30,000. Wilmington Savings Fund Society FSB bought a new position in shares of Nexstar Media Group during the 3rd quarter valued at $33,000. Capital Performance Advisors LLP purchased a new position in Nexstar Media Group in the 3rd quarter worth $44,000. Finally, Quarry LP lifted its stake in Nexstar Media Group by 111.1% in the third quarter. Quarry LP now owns 627 shares of the company’s stock worth $104,000 after purchasing an additional 330 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Insider Transactions at Nexstar Media Group

In other news, Director Charles Thomas Mcmillen sold 750 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $159.93, for a total transaction of $119,947.50. Following the sale, the director now owns 6,975 shares in the company, valued at $1,115,511.75. This represents a 9.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Perry A. Sook sold 37,025 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $160.14, for a total transaction of $5,929,183.50. Following the completion of the transaction, the chief executive officer now owns 674,694 shares of the company’s stock, valued at approximately $108,045,497.16. The trade was a 5.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 127,493 shares of company stock valued at $20,354,366. Insiders own 6.30% of the company’s stock.

Nexstar Media Group Price Performance

NXST stock opened at $146.34 on Thursday. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The firm has a 50 day moving average price of $154.97 and a 200-day moving average price of $163.29. Nexstar Media Group, Inc. has a 52-week low of $146.04 and a 52-week high of $191.86. The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of 8.46, a PEG ratio of 0.45 and a beta of 1.45.

Nexstar Media Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 5.08%. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date was Wednesday, February 12th. Nexstar Media Group’s payout ratio is 43.03%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NXST shares. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Guggenheim reaffirmed a “buy” rating on shares of Nexstar Media Group in a research note on Wednesday, January 22nd. Barrington Research reissued an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, November 7th. Benchmark reaffirmed a “buy” rating and issued a $215.00 target price on shares of Nexstar Media Group in a research note on Friday, November 8th. Finally, Loop Capital cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating and dropped their price target for the company from $200.00 to $190.00 in a research report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average 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.