Insider Selling: Nexstar Media Group, Inc. (NASDAQ:NXST) CFO Sells $52,215.90 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) CFO Lee Ann Gliha sold 330 shares of Nexstar Media Group stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $158.23, for a total value of $52,215.90. Following the completion of the sale, the chief financial officer now directly owns 8,610 shares of the company’s stock, valued at approximately $1,362,360.30. This trade represents a 3.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Nexstar Media Group Price Performance

NASDAQ:NXST opened at $159.93 on Thursday. Nexstar Media Group, Inc. has a 52-week low of $147.25 and a 52-week high of $191.86. The stock has a fifty day moving average of $168.92 and a 200 day moving average of $167.39. 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 firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of 9.25, a P/E/G ratio of 0.20 and a beta of 1.45.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing the consensus estimate of $5.51 by ($0.24). The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 EPS. On average, research analysts expect that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a dividend yield of 4.23%. The ex-dividend date of this dividend was Friday, November 15th. Nexstar Media Group’s dividend payout ratio (DPR) is currently 39.10%.

Wall Street Analysts Forecast Growth

NXST has been the subject of a number of research reports. Guggenheim cut their target price on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Loop Capital lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating and reduced their price objective for the company from $200.00 to $190.00 in a research note on Friday, November 8th. StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Barrington Research reiterated an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, November 7th. Finally, Benchmark reissued a “buy” rating and set a $215.00 price objective on shares of Nexstar Media Group in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $204.29.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its stake in Nexstar Media Group by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock worth $220,189,000 after purchasing an additional 62,331 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Nexstar Media Group by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company’s stock valued at $179,149,000 after buying an additional 7,117 shares in the last quarter. Copeland Capital Management LLC lifted its position in Nexstar Media Group by 18.1% in the 3rd quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock worth $90,567,000 after buying an additional 83,829 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Nexstar Media Group by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 418,815 shares of the company’s stock worth $69,528,000 after buying an additional 2,145 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in Nexstar Media Group by 72.0% during the second quarter. AQR Capital Management LLC now owns 199,811 shares of the company’s stock valued at $32,769,000 after acquiring an additional 83,637 shares during the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

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.