Canada Pension Plan Investment Board Invests $2.43 Million in Nexstar Media Group, Inc. (NASDAQ:NXST)

Canada Pension Plan Investment Board bought a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 15,400 shares of the company's stock, valued at approximately $2,433,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Pacer Advisors Inc. raised its stake in shares of Nexstar Media Group by 27,180.2% during the fourth quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company's stock worth $190,650,000 after purchasing an additional 1,202,453 shares during the last quarter. Demars Financial Group LLC raised its position in Nexstar Media Group by 16,009.5% during the 4th quarter. Demars Financial Group LLC now owns 773,737 shares of the company's stock worth $122,227,000 after buying an additional 768,934 shares during the last quarter. Norges Bank acquired a new stake in shares of Nexstar Media Group in the 4th quarter worth $44,460,000. Proficio Capital Partners LLC purchased a new stake in shares of Nexstar Media Group in the fourth quarter valued at about $35,560,000. Finally, Invesco Ltd. increased its stake in shares of Nexstar Media Group by 185.0% during the fourth quarter. Invesco Ltd. now owns 219,561 shares of the company's stock worth $34,684,000 after acquiring an additional 142,520 shares during the period. Hedge funds and other institutional investors own 95.30% of the company's stock.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST traded down $3.02 during trading on Tuesday, reaching $149.35. The company had a trading volume of 57,649 shares, compared to its average volume of 372,875. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a twelve month low of $143.32 and a twelve month high of $191.86. The stock has a 50-day moving average price of $163.15 and a two-hundred day moving average price of $163.05. The stock has a market capitalization of $4.56 billion, a PE ratio of 8.64, a price-to-earnings-growth ratio of 0.45 and a beta of 1.09.

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

Insider Activity

In other Nexstar Media Group news, insider Gary Weitman sold 1,241 shares of Nexstar Media Group stock in a transaction on Friday, March 7th. The shares were sold at an average price of $177.21, for a total value of $219,917.61. Following the transaction, the insider now owns 3,975 shares in the company, valued at $704,409.75. This trade represents a 23.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew Alford sold 3,768 shares of the company's stock in a transaction on Wednesday, March 26th. The stock was 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 of the company's stock, valued at approximately $983,601.90. The trade was a 41.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,105 shares of company stock valued at $6,722,463 over the last quarter. Company insiders own 6.30% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on NXST. Guggenheim lifted their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the company a "buy" rating in a report on Friday, February 28th. Barrington Research reiterated an "outperform" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Wednesday, March 5th. Loop Capital upgraded shares of Nexstar Media Group from a "hold" rating to a "buy" rating and raised their price objective for the company from $190.00 to $200.00 in a research note on Friday, February 28th. Rosenblatt Securities reaffirmed a "buy" rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Monday, March 10th. Finally, StockNews.com lowered Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $208.43.

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.