KBC Group NV Has $227,000 Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

KBC Group NV lessened its stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 92.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,267 shares of the company's stock after selling 15,963 shares during the period. KBC Group NV's holdings in Nexstar Media Group were worth $227,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in Nexstar Media Group during the 4th quarter worth approximately $25,000. Whipplewood Advisors LLC lifted its stake in shares of Nexstar Media Group by 830.3% during the 1st quarter. Whipplewood Advisors LLC now owns 307 shares of the company's stock worth $55,000 after purchasing an additional 274 shares during the period. Versant Capital Management Inc raised its position in shares of Nexstar Media Group by 2,126.3% in the 1st quarter. Versant Capital Management Inc now owns 423 shares of the company's stock worth $76,000 after buying an additional 404 shares during the period. Jones Financial Companies Lllp raised its position in shares of Nexstar Media Group by 15.3% in the 4th 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. Finally, UMB Bank n.a. raised its position in shares of Nexstar Media Group by 68.6% in the 1st quarter. UMB Bank n.a. now owns 536 shares of the company's stock worth $96,000 after buying an additional 218 shares during the period. Institutional investors and hedge funds own 95.30% of the company's stock.

Insider Activity

In related news, EVP Rachel Morgan sold 329 shares of Nexstar Media Group stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total value of $54,367.25. Following the completion of the sale, the executive vice president owned 2,122 shares of the company's stock, valued at approximately $350,660.50. The trade was a 13.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary Weitman sold 510 shares of Nexstar Media Group stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total transaction of $84,277.50. Following the completion of the sale, the insider directly owned 8,229 shares of the company's stock, valued at approximately $1,359,842.25. The trade was a 5.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,474 shares of company stock valued at $3,666,988 over the last 90 days. Corporate insiders own 6.70% of the company's stock.

Nexstar Media Group Stock Up 0.8%

NASDAQ:NXST traded up $1.52 during mid-day trading on Thursday, reaching $184.93. The stock had a trading volume of 200,078 shares, compared to its average volume of 377,122. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.74 and a quick ratio of 1.74. The stock's 50 day simple moving average is $170.31 and its two-hundred day simple moving average is $163.14. Nexstar Media Group, Inc. has a 1-year low of $141.66 and a 1-year high of $191.86. The company has a market capitalization of $5.64 billion, a price-to-earnings ratio of 9.37, a price-to-earnings-growth ratio of 1.35 and a beta of 1.04.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.26 by $0.11. Nexstar Media Group had a net margin of 12.21% and a return on equity of 29.21%. The firm had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter last year, the company posted $5.16 earnings per share. Nexstar Media Group's revenue was down 3.9% on a year-over-year basis. Equities analysts anticipate that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a dividend of $1.86 per share. The ex-dividend date was Monday, May 19th. This represents a $7.44 annualized dividend and a yield of 4.02%. Nexstar Media Group's payout ratio is 37.69%.

Analyst Upgrades and Downgrades

Several research firms have commented on NXST. Wells Fargo & Company cut their price objective on Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Benchmark lowered their target price on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Finally, Barrington Research restated an "outperform" rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Nexstar Media Group currently has an average rating of "Moderate Buy" and a consensus price target of $205.71.

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.