Jay M. Grossman Sells 10,000 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) Director Jay M. Grossman sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $170.70, for a total value of $1,707,000.00. Following the completion of the transaction, the director now owns 54,625 shares of the company’s stock, valued at $9,324,487.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Nexstar Media Group Stock Performance

Shares of NASDAQ:NXST opened at $167.66 on Friday. Nexstar Media Group, Inc. has a twelve month low of $132.30 and a twelve month high of $187.27. The firm has a market cap of $5.52 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 0.18 and a beta of 1.50. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78. The business has a fifty day moving average of $170.02 and a 200-day moving average of $165.69.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the business posted $2.64 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts predict that Nexstar Media Group, Inc. will post 25.72 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a $1.69 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.03%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 57.19%.

Analyst Ratings Changes

NXST has been the subject of a number of recent research reports. StockNews.com lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Benchmark restated a “buy” rating and issued a $225.00 target price on shares of Nexstar Media Group in a research note on Friday, August 9th. Barrington Research reiterated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, August 8th. Wells Fargo & Company dropped their price objective on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.67.

Hedge Funds Weigh In On Nexstar Media Group

Several hedge funds have recently added to or reduced their stakes in NXST. Whittier Trust Co. bought a new position in Nexstar Media Group in the second quarter valued at about $27,000. EverSource Wealth Advisors LLC boosted its holdings in Nexstar Media Group by 632.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock valued at $32,000 after acquiring an additional 177 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Nexstar Media Group by 3,700.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after acquiring an additional 259 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in Nexstar Media Group by 41.1% in the fourth quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock valued at $46,000 after acquiring an additional 86 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Nexstar Media Group by 112.2% in the second quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock valued at $49,000 after acquiring an additional 156 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

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.