Insider Selling: Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Sells 363 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Rachel Morgan sold 363 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $173.59, for a total transaction of $63,013.17. Following the completion of the sale, the executive vice president now owns 1,137 shares in the company, valued at $197,371.83. This represents a 24.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Nexstar Media Group Trading Down 1.7%

NXST stock traded down $3.01 during midday trading on Wednesday, hitting $172.21. The stock had a trading volume of 265,268 shares, compared to its average volume of 390,821. The firm has a market cap of $5.25 billion, a P/E ratio of 9.96, a price-to-earnings-growth ratio of 0.45 and a beta of 1.06. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a 1-year low of $141.66 and a 1-year high of $191.86. The business has a fifty day moving average price of $162.55 and a two-hundred day moving average price of $161.94.

Nexstar Media Group (NASDAQ:NXST) last released its 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 business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. Nexstar Media Group’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.16 earnings per share. On average, sell-side analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be issued a dividend of $1.86 per share. The ex-dividend date is Monday, May 19th. This represents a $7.44 annualized dividend and a dividend yield of 4.32%. Nexstar Media Group’s dividend payout ratio is currently 37.69%.

Hedge Funds Weigh In On Nexstar Media Group

Several institutional investors have recently made changes to their positions in NXST. Demars Financial Group LLC raised its holdings 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 valued at $122,227,000 after purchasing an additional 768,934 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of Nexstar Media Group by 71,715.8% during the first quarter. Jones Financial Companies Lllp now owns 394,987 shares of the company’s stock valued at $70,790,000 after purchasing an additional 394,437 shares during the period. New Vernon Capital Holdings II LLC acquired a new position in shares of Nexstar Media Group during the first quarter valued at about $60,064,000. Norges Bank acquired a new position in shares of Nexstar Media Group during the fourth quarter valued at about $44,460,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Nexstar Media Group by 611.5% during the first quarter. Victory Capital Management Inc. now owns 289,668 shares of the company’s stock valued at $51,914,000 after purchasing an additional 248,957 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NXST shares. Barrington Research restated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research report on Tuesday, May 13th. Loop Capital upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $190.00 to $200.00 in a report on Friday, February 28th. Wells Fargo & Company cut their price target on shares of Nexstar Media Group from $216.00 to $200.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Monday, March 10th. Finally, Guggenheim lifted their price target on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $205.71.

About Nexstar Media Group

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.