Handelsbanken Fonder AB Has $1.46 Million Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Handelsbanken Fonder AB increased its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 57.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,330 shares of the company’s stock after purchasing an additional 3,400 shares during the quarter. Handelsbanken Fonder AB’s holdings in Nexstar Media Group were worth $1,462,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Signaturefd LLC lifted its stake in Nexstar Media Group by 20.3% in the fourth quarter. Signaturefd LLC now owns 420 shares of the company’s stock valued at $66,000 after acquiring an additional 71 shares during the last quarter. Fifth Third Bancorp lifted its stake in Nexstar Media Group by 7.8% in the fourth quarter. Fifth Third Bancorp now owns 1,122 shares of the company’s stock valued at $176,000 after acquiring an additional 81 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in Nexstar Media Group by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 19,999 shares of the company’s stock valued at $2,867,000 after acquiring an additional 91 shares during the last quarter. Miracle Mile Advisors LLC lifted its stake in Nexstar Media Group by 4.0% in the third quarter. Miracle Mile Advisors LLC now owns 3,064 shares of the company’s stock valued at $439,000 after acquiring an additional 119 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in Nexstar Media Group by 5.0% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,608 shares of the company’s stock valued at $374,000 after acquiring an additional 124 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Barrington Research reissued an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, March 7th. Rosenblatt Securities dropped their price objective on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. Finally, TheStreet raised shares of Nexstar Media Group from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and an average price target of $193.83.

Nexstar Media Group Price Performance

NASDAQ:NXST opened at $158.92 on Friday. Nexstar Media Group, Inc. has a 52 week low of $132.30 and a 52 week high of $187.32. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of 16.50, a P/E/G ratio of 0.59 and a beta of 1.50. The firm’s 50-day simple moving average is $164.98 and its 200 day simple moving average is $159.11. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.53 and a current ratio of 1.53.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Wednesday, February 28th. The company reported $3.32 EPS for the quarter, missing analysts’ consensus estimates of $4.42 by ($1.10). Nexstar Media Group had a return on equity of 14.06% and a net margin of 7.03%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the business posted $8.04 earnings per share. Nexstar Media Group’s revenue was down 12.3% compared to the same quarter last year. As a group, sell-side analysts predict that Nexstar Media Group, Inc. will post 26.73 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be given a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date is Thursday, May 9th. Nexstar Media Group’s dividend payout ratio is 70.20%.

Insider Buying and Selling at Nexstar Media Group

In other news, Director Dennis J. Fitzsimons sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $170.82, for a total value of $341,640.00. Following the completion of the transaction, the director now directly owns 12,027 shares in the company, valued at approximately $2,054,452.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Dennis J. Fitzsimons sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $170.82, for a total value of $341,640.00. Following the completion of the transaction, the director now directly owns 12,027 shares in the company, valued at approximately $2,054,452.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Perry A. Sook sold 31,758 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $158.66, for a total transaction of $5,038,724.28. Following the completion of the transaction, the chief executive officer now owns 636,788 shares of the company’s stock, valued at $101,032,784.08. The disclosure for this sale can be found here. Insiders have sold a total of 46,508 shares of company stock valued at $7,487,950 in the last ninety days. 5.90% of the stock is currently owned by company insiders.

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.