Nexstar Media Group, Inc. (NASDAQ:NXST) Director Sells $339,020.00 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) Director Charles Thomas Mcmillen sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $169.51, for a total transaction of $339,020.00. Following the sale, the director now directly owns 4,975 shares of the company’s stock, valued at approximately $843,312.25. This trade represents a 28.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Charles Thomas Mcmillen also recently made the following trade(s):

• On Thursday, December 26th, Charles Thomas Mcmillen sold 750 shares of Nexstar Media Group stock. The shares were sold at an average price of $159.93, for a total transaction of $119,947.50.

Nexstar Media Group Stock Up 3.0 %

Shares of NXST opened at $177.85 on Friday. The company has a market cap of $5.52 billion, a PE ratio of 10.29, a P/E/G ratio of 0.45 and a beta of 1.45. The business has a fifty day moving average of $156.23 and a 200 day moving average of $163.70. Nexstar Media Group, Inc. has a 52-week low of $146.04 and a 52-week high of $191.86. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly 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). The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. On average, sell-side analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 4.18%. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date of this dividend was Wednesday, February 12th. Nexstar Media Group’s dividend payout ratio (DPR) is 34.56%.

Institutional Trading of Nexstar Media Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its position in shares of Nexstar Media Group by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,331,355 shares of the company’s stock worth $210,314,000 after purchasing an additional 4,704 shares during the last quarter. Pacer Advisors Inc. lifted its position 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. Charles Schwab Investment Management Inc. lifted its position in shares of Nexstar Media Group by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,102,126 shares of the company’s stock worth $174,103,000 after purchasing an additional 18,675 shares during the last quarter. Demars Financial Group LLC lifted its position in shares of Nexstar Media Group by 16,009.5% during the fourth quarter. Demars Financial Group LLC now owns 773,737 shares of the company’s stock worth $122,227,000 after purchasing an additional 768,934 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Nexstar Media Group by 22.3% during the fourth quarter. Northern Trust Corp now owns 463,139 shares of the company’s stock worth $73,162,000 after purchasing an additional 84,367 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on NXST. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Wednesday. Loop Capital raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating and raised their target price for the company from $190.00 to $200.00 in a report on Friday, February 28th. Guggenheim raised their target price on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a report on Friday, February 28th. Benchmark raised their target price on shares of Nexstar Media Group from $200.00 to $225.00 and gave the company a “buy” rating in a report on Friday, February 28th. Finally, StockNews.com lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $210.29.

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.