Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Sells $74,424.72 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Blake Russell sold 424 shares of the business’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $175.53, for a total transaction of $74,424.72. Following the completion of the sale, the executive vice president now directly owns 21,895 shares in the company, valued at approximately $3,843,229.35. This represents a 1.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Nexstar Media Group Stock Up 0.4%

Shares of Nexstar Media Group stock opened at $171.46 on Friday. Nexstar Media Group, Inc. has a one year low of $141.66 and a one year high of $191.86. 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 stock’s 50-day moving average is $162.81 and its 200 day moving average is $162.15. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 0.45 and a beta of 1.06.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Thursday, May 8th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.11. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company’s revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.16 earnings per share. Equities research analysts anticipate that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a dividend of $1.86 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.34%. Nexstar Media Group’s payout ratio is presently 37.69%.

Analyst Upgrades and Downgrades

NXST has been the subject of several analyst reports. Barrington Research reaffirmed an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Tuesday, May 13th. Guggenheim raised their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Loop Capital upgraded Nexstar Media Group from a “hold” rating to a “buy” rating and upped their target price for the company from $190.00 to $200.00 in a report on Friday, February 28th. Wells Fargo & Company decreased their target price on shares of Nexstar Media Group from $216.00 to $200.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Finally, Wall Street Zen downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $205.71.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC raised its holdings in shares of Nexstar Media Group by 16.8% during the third quarter. Barclays PLC now owns 45,051 shares of the company’s stock valued at $7,448,000 after purchasing an additional 6,475 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in Nexstar Media Group by 5.8% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 2,518 shares of the company’s stock worth $398,000 after buying an additional 137 shares during the period. Davis Capital Management boosted its holdings in Nexstar Media Group by 2.0% in the fourth quarter. Davis Capital Management now owns 6,270 shares of the company’s stock worth $990,000 after acquiring an additional 122 shares in the last quarter. CX Institutional grew its stake in Nexstar Media Group by 13.1% in the fourth quarter. CX Institutional now owns 1,579 shares of the company’s stock valued at $249,000 after acquiring an additional 183 shares during the period. Finally, Tributary Capital Management LLC grew its stake in Nexstar Media Group by 46.7% in the fourth quarter. Tributary Capital Management LLC now owns 4,324 shares of the company’s stock valued at $683,000 after acquiring an additional 1,377 shares during the period. 95.30% of the stock is owned by 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.