Nexstar Media Group, Inc. (NASDAQ:NXST) Insider Sells $739,041.84 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Brett Jenkins sold 4,331 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $170.64, for a total value of $739,041.84. Following the completion of the sale, the insider now directly owns 25,540 shares of the company’s stock, valued at approximately $4,358,145.60. This trade represents a 14.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Nexstar Media Group Stock Up 0.5 %

Shares of NASDAQ:NXST opened at $171.15 on Thursday. The company has a market capitalization of $5.31 billion, a PE ratio of 9.85, a price-to-earnings-growth ratio of 0.20 and a beta of 1.48. 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 business has a fifty day moving average price of $169.09 and a two-hundred day moving average price of $167.10. Nexstar Media Group, Inc. has a 1 year low of $141.38 and a 1 year high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 EPS. Analysts forecast that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $1.69 per share. The ex-dividend date is Friday, November 15th. This represents a $6.76 annualized dividend and a dividend yield of 3.95%. Nexstar Media Group’s payout ratio is 39.10%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Brooklyn Investment Group bought a new position in shares of Nexstar Media Group during the 3rd quarter worth $25,000. Whittier Trust Co. bought a new position in Nexstar Media Group in the 2nd quarter worth about $27,000. True Wealth Design LLC bought a new position in Nexstar Media Group in the 3rd quarter worth about $30,000. Wilmington Savings Fund Society FSB bought a new position in Nexstar Media Group in the 3rd quarter worth about $33,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Nexstar Media Group by 3,700.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock worth $44,000 after purchasing an additional 259 shares during the period. Institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on NXST. Guggenheim lowered their price target on 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. Benchmark reissued a “buy” rating and issued a $215.00 price target on shares of Nexstar Media Group in a research report on Friday, November 8th. Wells Fargo & Company lowered their price target on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Barrington Research reissued 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, StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $198.50.

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.