Insider Selling: Nexstar Media Group, Inc. (NASDAQ:NXST) Insider Sells $685,700.64 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Andrew Alford sold 3,768 shares of the firm’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 completion of the sale, the insider now directly owns 5,405 shares of the company’s stock, valued at $983,601.90. This trade represents a 41.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Nexstar Media Group Stock Performance

NASDAQ NXST opened at $176.45 on Friday. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. The company has a market cap of $5.38 billion, a P/E ratio of 10.21, a P/E/G ratio of 0.45 and a beta of 1.47. The stock has a 50-day moving average of $162.36 and a two-hundred day moving average of $164.61. Nexstar Media Group, Inc. has a 1-year low of $146.04 and a 1-year high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.22 by ($1.66). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.48 billion. As a group, analysts anticipate that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 4.22%. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date was Wednesday, February 12th. Nexstar Media Group’s payout ratio is presently 34.56%.

Institutional Investors Weigh In On Nexstar Media Group

Large investors have recently bought and sold shares of the stock. Brooklyn Investment Group purchased a new stake in shares of Nexstar Media Group during the third quarter worth approximately $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of Nexstar Media Group in the 4th quarter valued at $25,000. True Wealth Design LLC purchased a new stake in shares of Nexstar Media Group during the 3rd quarter worth $30,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Nexstar Media Group during the third quarter worth $33,000. Finally, Jones Financial Companies Lllp increased its holdings in Nexstar Media Group by 15.3% in the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock valued at $87,000 after buying an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NXST shares. Benchmark raised their price objective on shares of Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Guggenheim lifted their price target on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Loop Capital upgraded Nexstar Media Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $190.00 to $200.00 in a research report on Friday, February 28th. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Finally, StockNews.com downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $208.43.

Nexstar Media Group Company 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.