Brett Jenkins Sells 426 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Brett Jenkins sold 426 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $167.25, for a total transaction of $71,248.50. Following the sale, the insider now directly owns 24,912 shares in the company, valued at $4,166,532. This represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Brett Jenkins also recently made the following trade(s):

• On Tuesday, May 27th, Brett Jenkins sold 451 shares of Nexstar Media Group stock. The shares were sold at an average price of $173.59, for a total transaction of $78,289.09.
• On Tuesday, May 20th, Brett Jenkins sold 528 shares of Nexstar Media Group stock. The shares were sold at an average price of $175.53, for a total transaction of $92,679.84.

Nexstar Media Group Stock Up 2.6%

Shares of NASDAQ NXST opened at $169.00 on Friday. The stock has a market capitalization of $5.16 billion, a PE ratio of 9.77, a P/E/G ratio of 0.45 and a beta of 1.06. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The firm has a fifty day moving average of $160.90 and a 200-day moving average of $162.14. Nexstar Media Group, Inc. has a 52-week low of $141.66 and a 52-week high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, May 8th. The company reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.23 billion. During the same quarter last year, the firm earned $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, analysts anticipate that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 4.40%. The ex-dividend date was Monday, May 19th. Nexstar Media Group’s dividend payout ratio is currently 37.69%.

Institutional Trading of Nexstar Media Group

Institutional investors have recently modified their holdings of the company. Jones Financial Companies Lllp raised its stake in shares of Nexstar Media Group by 15.3% in the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock valued at $87,000 after acquiring an additional 73 shares during the period. Glassy Mountain Advisors Inc. boosted its position in Nexstar Media Group by 0.4% during the 1st quarter. Glassy Mountain Advisors Inc. now owns 20,497 shares of the company’s stock worth $3,674,000 after purchasing an additional 73 shares during the period. HighPoint Advisor Group LLC boosted its position in Nexstar Media Group by 5.0% during the 1st quarter. HighPoint Advisor Group LLC now owns 1,930 shares of the company’s stock worth $346,000 after purchasing an additional 92 shares during the period. State of Michigan Retirement System increased its holdings in Nexstar Media Group by 1.4% in the 1st quarter. State of Michigan Retirement System now owns 7,000 shares of the company’s stock valued at $1,255,000 after purchasing an additional 100 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its position in Nexstar Media Group by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the company’s stock valued at $1,470,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on NXST. Wells Fargo & Company lowered 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 note on Thursday, May 1st. Benchmark lowered their price objective on Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. 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 research note on Friday, February 28th. Guggenheim raised their price target on Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Wall Street Zen cut Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.71.

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.