KBC Group NV Decreases Stock Holdings in Nexstar Media Group, Inc. $NXST

KBC Group NV lowered its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 31.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 873 shares of the company’s stock after selling 394 shares during the period. KBC Group NV’s holdings in Nexstar Media Group were worth $151,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Impact Capital Partners LLC boosted its stake in Nexstar Media Group by 2.0% in the second quarter. Impact Capital Partners LLC now owns 2,857 shares of the company’s stock valued at $494,000 after acquiring an additional 55 shares in the last quarter. Lynx Investment Advisory lifted its holdings in shares of Nexstar Media Group by 3.8% during the 2nd quarter. Lynx Investment Advisory now owns 1,800 shares of the company’s stock valued at $311,000 after purchasing an additional 66 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Nexstar Media Group by 7.3% in the 2nd quarter. Blue Trust Inc. now owns 1,195 shares of the company’s stock worth $207,000 after purchasing an additional 81 shares in the last quarter. Drive Wealth Management LLC grew its stake in Nexstar Media Group by 6.9% during the 2nd quarter. Drive Wealth Management LLC now owns 1,254 shares of the company’s stock worth $217,000 after buying an additional 81 shares during the last quarter. Finally, Verdence Capital Advisors LLC increased its position in Nexstar Media Group by 0.8% during the 2nd quarter. Verdence Capital Advisors LLC now owns 11,579 shares of the company’s stock valued at $2,003,000 after buying an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

NXST has been the subject of several recent analyst reports. Guggenheim raised their price target on Nexstar Media Group from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Benchmark lifted their target price on shares of Nexstar Media Group from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Zacks Research raised shares of Nexstar Media Group to a “hold” rating in a research report on Friday, August 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nexstar Media Group in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Nexstar Media Group presently has a consensus rating of “Moderate Buy” and an average target price of $225.00.

Nexstar Media Group Price Performance

Shares of NASDAQ:NXST opened at $185.78 on Friday. Nexstar Media Group, Inc. has a twelve month low of $141.66 and a twelve month high of $223.36. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 2.80. The company has a market cap of $5.63 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 1.40 and a beta of 0.99. The company’s 50 day moving average is $195.54 and its 200 day moving average is $187.51.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data on Thursday, November 6th. The company reported $2.14 EPS for the quarter, missing the consensus estimate of $2.62 by ($0.48). The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Nexstar Media Group had a net margin of 11.90% and a return on equity of 28.40%. The firm’s revenue was down 12.3% on a year-over-year basis. During the same period last year, the company earned $5.27 earnings per share. On average, sell-side analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th will be issued a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Wednesday, November 12th. Nexstar Media Group’s dividend payout ratio is presently 46.13%.

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.