281,444 Shares in Nexstar Media Group, Inc. (NASDAQ:NXST) Acquired by Norges Bank

Norges Bank purchased a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 281,444 shares of the company’s stock, valued at approximately $44,460,000.

Several other institutional investors also recently bought and sold shares of NXST. SBI Securities Co. Ltd. purchased a new position in shares of Nexstar Media Group in the 4th quarter valued at $25,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Nexstar Media Group during the third quarter worth about $33,000. Jones Financial Companies Lllp boosted its position in shares of Nexstar Media Group by 15.3% in the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock worth $87,000 after buying an additional 73 shares during the period. Quarry LP grew its stake in shares of Nexstar Media Group by 111.1% in the third quarter. Quarry LP now owns 627 shares of the company’s stock valued at $104,000 after buying an additional 330 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of Nexstar Media Group by 99.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 786 shares of the company’s stock valued at $124,000 after buying an additional 392 shares in the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Nexstar Media Group Stock Down 8.1 %

NASDAQ:NXST opened at $153.42 on Friday. 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 company has a market capitalization of $4.68 billion, a price-to-earnings ratio of 8.87, a price-to-earnings-growth ratio of 0.45 and a beta of 1.09. Nexstar Media Group, Inc. has a one year low of $146.04 and a one year high of $191.86. The stock has a 50-day simple moving average of $164.06 and a 200 day simple moving average of $164.89.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, February 27th. The company reported $7.56 EPS for the quarter, missing the consensus estimate of $9.22 by ($1.66). The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. Sell-side analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.85%. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date of this dividend was Wednesday, February 12th. Nexstar Media Group’s dividend payout ratio is 34.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NXST shares. Benchmark upped their price target on Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Wednesday, March 5th. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Monday, March 10th. Guggenheim lifted their target price on Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Loop Capital raised Nexstar Media Group from a “hold” rating to a “buy” rating and increased their price target for the company from $190.00 to $200.00 in a report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Nexstar Media Group has an average rating of “Moderate Buy” and a consensus target price of $208.43.

Insider Transactions at Nexstar Media Group

In related news, insider Andrew Alford sold 3,768 shares of the stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total transaction of $685,700.64. Following the sale, the insider now owns 5,405 shares in the company, valued at $983,601.90. This represents a 41.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Perry A. Sook sold 32,096 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $170.67, for a total value of $5,477,824.32. Following the completion of the transaction, the chief executive officer now owns 806,019 shares of the company’s stock, valued at approximately $137,563,262.73. The trade was a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,105 shares of company stock worth $6,722,463. 6.30% of the stock is currently owned by insiders.

Nexstar Media Group 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.