Insider Selling: Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Sells 1,437 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Lee Ann Gliha sold 1,437 shares of the business’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $173.59, for a total value of $249,448.83. Following the sale, the executive vice president now owns 10,923 shares in the company, valued at approximately $1,896,123.57. The trade was a 11.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Nexstar Media Group Stock Performance

NASDAQ NXST opened at $169.98 on Friday. The business’s 50-day moving average price is $162.10 and its 200 day moving average price is $162.02. Nexstar Media Group, Inc. has a twelve month low of $141.66 and a twelve month high of $191.86. The company has a market capitalization of $5.19 billion, a PE ratio of 9.83, 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 (NASDAQ:NXST) last released its earnings results on Thursday, May 8th. The company reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.11. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the business posted $5.16 earnings per share. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, research analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The firm 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 is Monday, May 19th. This represents a $7.44 annualized dividend and a yield of 4.38%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 37.69%.

Analysts Set New Price Targets

A number of analysts have commented on NXST shares. Benchmark decreased their target price on Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Barrington Research restated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, May 13th. Wells Fargo & Company reduced their price objective on Nexstar Media Group from $216.00 to $200.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Wall Street Zen downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, Rosenblatt Securities restated a “buy” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Monday, March 10th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $205.71.

Hedge Funds Weigh In On Nexstar Media Group

Several large investors have recently added to or reduced their stakes in the business. Strs Ohio purchased a new position in Nexstar Media Group during the first quarter worth about $1,222,000. WBI Investments LLC purchased a new position in shares of Nexstar Media Group in the 1st quarter worth about $268,000. Acadian Asset Management LLC purchased a new position in shares of Nexstar Media Group in the 1st quarter worth about $654,000. Geneos Wealth Management Inc. raised its holdings in shares of Nexstar Media Group by 86.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 509 shares of the company’s stock worth $91,000 after purchasing an additional 236 shares during the period. Finally, Belpointe Asset Management LLC raised its holdings in shares of Nexstar Media Group by 148.8% in the 1st quarter. Belpointe Asset Management LLC now owns 2,966 shares of the company’s stock worth $532,000 after purchasing an additional 1,774 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

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.