KLP Kapitalforvaltning AS Acquires Shares of 8,000 Nexstar Media Group, Inc. (NASDAQ:NXST)

KLP Kapitalforvaltning AS bought a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 8,000 shares of the company’s stock, valued at approximately $1,264,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group bought a new stake in Nexstar Media Group in the third quarter worth about $25,000. SBI Securities Co. Ltd. purchased a new stake in shares of Nexstar Media Group during the 4th quarter worth approximately $25,000. True Wealth Design LLC purchased a new stake in shares of Nexstar Media Group during the 3rd quarter worth approximately $30,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Nexstar Media Group in the 3rd quarter worth approximately $33,000. Finally, Jones Financial Companies Lllp lifted its stake in Nexstar Media Group by 15.3% in the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock valued at $87,000 after purchasing an additional 73 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NXST shares. Barrington Research restated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Benchmark boosted their price objective on Nexstar Media Group from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, February 28th. StockNews.com downgraded 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 target price on shares of Nexstar Media Group in a research note on Monday, March 10th. Finally, Loop Capital raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $190.00 to $200.00 in a research report on Friday, February 28th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Nexstar Media Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.43.

Nexstar Media Group Trading Down 1.7 %

Shares of NXST opened at $176.45 on Friday. Nexstar Media Group, Inc. has a twelve month low of $146.04 and a twelve month high of $191.86. The stock has a market cap of $5.38 billion, a PE ratio of 10.21, a P/E/G ratio of 0.45 and a beta of 1.47. 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 business’s 50-day moving average price is $162.36 and its 200-day moving average price is $164.61.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results 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 firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.48 billion. On average, equities analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a dividend of $1.86 per share. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date was Wednesday, February 12th. This represents a $7.44 annualized dividend and a yield of 4.22%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 34.56%.

Insider Buying and Selling

In related news, Director Charles Thomas Mcmillen sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $169.51, for a total value of $339,020.00. Following the completion of the transaction, the director now directly owns 4,975 shares in the company, valued at approximately $843,312.25. The trade was a 28.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew Alford sold 3,768 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total value of $685,700.64. Following the sale, the insider now owns 5,405 shares in the company, valued at $983,601.90. The trade was a 41.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,105 shares of company stock worth $6,722,463 over the last ninety days. 6.30% of the stock is owned by corporate insiders.

Nexstar Media Group Company 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.