KLP Kapitalforvaltning AS Acquires 3,600 Shares of Nexstar Media Group, Inc. $NXST

KLP Kapitalforvaltning AS lifted its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 41.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,200 shares of the company’s stock after buying an additional 3,600 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Nexstar Media Group were worth $2,412,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Alliancebernstein L.P. lifted its position in Nexstar Media Group by 27.1% in the 2nd quarter. Alliancebernstein L.P. now owns 882,322 shares of the company’s stock valued at $152,598,000 after acquiring an additional 187,864 shares in the last quarter. AQR Capital Management LLC raised its position in Nexstar Media Group by 118.1% in the 2nd quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock valued at $93,795,000 after buying an additional 294,308 shares during the last quarter. Channing Capital Management LLC lifted its stake in Nexstar Media Group by 0.4% during the 2nd quarter. Channing Capital Management LLC now owns 486,880 shares of the company’s stock valued at $84,206,000 after acquiring an additional 2,155 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Nexstar Media Group by 43.3% during the 3rd quarter. Pacer Advisors Inc. now owns 430,913 shares of the company’s stock worth $85,209,000 after acquiring an additional 130,283 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Nexstar Media Group in the 2nd quarter worth $46,461,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Citigroup dropped their target price on shares of Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 25th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nexstar Media Group in a report on Monday, December 29th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Nexstar Media Group has an average rating of “Moderate Buy” and a consensus target price of $222.38.

Nexstar Media Group Stock Up 1.1%

NXST opened at $208.47 on Friday. Nexstar Media Group, Inc. has a twelve month low of $141.66 and a twelve month high of $223.36. The company’s 50-day moving average price is $196.99 and its two-hundred day moving average price is $195.33. The stock has a market cap of $6.32 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 0.79 and a beta of 0.84. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 2.76.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, November 6th. The company reported $2.14 EPS for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.48). The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. Nexstar Media Group had a return on equity of 22.99% and a net margin of 10.02%.The company’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same period last year, the firm posted $5.27 EPS. As a group, equities analysts expect that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th were given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Wednesday, November 12th. Nexstar Media Group’s dividend payout ratio (DPR) is currently 46.13%.

Nexstar Media Group Company 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.