Nexstar Media Group, Inc. (NASDAQ:NXST) Director Dennis J. Fitzsimons Sells 2,000 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) Director Dennis J. Fitzsimons sold 2,000 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $170.82, for a total value of $341,640.00. Following the transaction, the director now directly owns 12,027 shares of the company’s stock, valued at $2,054,452.14. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Nexstar Media Group Trading Up 0.2 %

NASDAQ:NXST opened at $172.29 on Friday. The stock has a 50-day simple moving average of $168.44 and a 200-day simple moving average of $155.94. The stock has a market cap of $5.76 billion, a P/E ratio of 17.89, a P/E/G ratio of 0.64 and a beta of 1.51. Nexstar Media Group, Inc. has a 1 year low of $132.30 and a 1 year high of $187.32. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.53 and a current ratio of 1.53.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Wednesday, February 28th. The company reported $3.32 earnings per share for the quarter, missing the consensus estimate of $4.42 by ($1.10). Nexstar Media Group had a net margin of 7.03% and a return on equity of 14.06%. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the firm posted $8.04 earnings per share. The firm’s revenue for the quarter was down 12.3% on a year-over-year basis. As a group, analysts anticipate that Nexstar Media Group, Inc. will post 26.73 earnings per share for the current fiscal year.

Nexstar Media Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were issued a $1.69 dividend. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.35. This represents a $6.76 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend was Thursday, February 8th. Nexstar Media Group’s payout ratio is presently 70.20%.

Analysts Set New Price Targets

NXST has been the subject of several analyst reports. Rosenblatt Securities lowered their target price on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. TheStreet raised Nexstar Media Group from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Citigroup initiated coverage on Nexstar Media Group in a research note on Friday, December 8th. They set a “neutral” rating and a $158.00 target price for the company. Finally, Barrington Research reissued an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $193.83.

Institutional Trading of Nexstar Media Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Brown Brothers Harriman & Co. purchased a new stake in Nexstar Media Group during the 1st quarter valued at approximately $26,000. EverSource Wealth Advisors LLC raised its stake in Nexstar Media Group by 632.1% during the 4th 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. First United Bank & Trust purchased a new stake in Nexstar Media Group during the 4th quarter valued at approximately $33,000. SRS Capital Advisors Inc. raised its stake in Nexstar Media Group by 350.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 239 shares of the company’s stock valued at $37,000 after acquiring an additional 186 shares during the last quarter. Finally, OLD Second National Bank of Aurora purchased a new stake in Nexstar Media Group during the 4th quarter valued at approximately $45,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

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.