Insider Selling: Nexstar Media Group Inc (NASDAQ:NXST) CFO Sells 1,300 Shares of Stock

Nexstar Media Group Inc (NASDAQ:NXST) CFO Thomas Carter sold 1,300 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $106.39, for a total value of $138,307.00. Following the completion of the transaction, the chief financial officer now directly owns 99,489 shares of the company’s stock, valued at approximately $10,584,634.71. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Shares of Nexstar Media Group stock traded up $0.26 during mid-day trading on Friday, reaching $102.03. 12,620 shares of the stock traded hands, compared to its average volume of 479,219. The business has a 50-day moving average of $100.05 and a 200 day moving average of $102.04. Nexstar Media Group Inc has a fifty-two week low of $70.51 and a fifty-two week high of $119.93. The stock has a market capitalization of $4.90 billion, a PE ratio of 11.93, a PEG ratio of 1.67 and a beta of 1.44. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.88.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Wednesday, November 6th. The company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of $1.51 by ($2.36). Nexstar Media Group had a net margin of 9.87% and a return on equity of 16.83%. The firm had revenue of $663.60 million for the quarter, compared to analyst estimates of $644.00 million. During the same period in the previous year, the company earned $2.12 EPS. Nexstar Media Group’s revenue was down 4.2% compared to the same quarter last year. On average, equities research analysts expect that Nexstar Media Group Inc will post 6.37 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.45 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.76%. Nexstar Media Group’s payout ratio is currently 21.08%.

A number of equities analysts recently weighed in on NXST shares. ValuEngine raised Nexstar Media Group from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Evercore ISI reaffirmed a “buy” rating and issued a $116.00 price target on shares of Nexstar Media Group in a report on Thursday, August 8th. BidaskClub raised Nexstar Media Group from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Benchmark increased their target price on Nexstar Media Group from $135.00 to $150.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Finally, Stephens set a $150.00 target price on Nexstar Media Group and gave the company a “buy” rating in a report on Friday, August 30th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $132.13.

Institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its holdings in shares of Nexstar Media Group by 165.9% during the third quarter. Tower Research Capital LLC TRC now owns 327 shares of the company’s stock valued at $33,000 after acquiring an additional 204 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Nexstar Media Group in the second quarter valued at approximately $80,000. Synovus Financial Corp grew its position in shares of Nexstar Media Group by 100.0% in the second quarter. Synovus Financial Corp now owns 1,000 shares of the company’s stock valued at $101,000 after purchasing an additional 500 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Nexstar Media Group in the second quarter valued at approximately $116,000. Finally, Resources Investment Advisors LLC. purchased a new stake in shares of Nexstar Media Group in the second quarter valued at approximately $119,000. 99.97% of the stock is owned by institutional investors and hedge funds.

About Nexstar Media Group

Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. The company focuses on the acquisition, development, and operation of television stations and interactive community Websites in small and medium-sized markets. It offers free over-the-air programming to television viewing audiences.

Further Reading: Call Option

Insider Buying and Selling by Quarter for Nexstar Media Group (NASDAQ:NXST)

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