Andrew Alford Sells 757 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Andrew Alford sold 757 shares of Nexstar Media Group stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total value of $125,094.25. Following the transaction, the insider now owns 10,528 shares in the company, valued at $1,739,752. This represents a 6.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Andrew Alford also recently made the following trade(s):

• On Wednesday, June 4th, Andrew Alford sold 751 shares of Nexstar Media Group stock. The shares were sold at an average price of $167.25, for a total value of $125,604.75.
• On Tuesday, May 27th, Andrew Alford sold 779 shares of Nexstar Media Group stock. The shares were sold at an average price of $173.59, for a total value of $135,226.61.
• On Tuesday, May 20th, Andrew Alford sold 838 shares of Nexstar Media Group stock. The shares were sold at an average price of $175.53, for a total value of $147,094.14.
• On Wednesday, March 26th, Andrew Alford sold 3,768 shares of Nexstar Media Group stock. The shares were sold at an average price of $181.98, for a total value of $685,700.64.

Nexstar Media Group Stock Performance

Shares of NASDAQ NXST opened at $166.59 on Thursday. The business’s 50-day moving average price is $162.55 and its two-hundred day moving average price is $162.07. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.74 and a quick ratio of 1.74. Nexstar Media Group, Inc. has a one year low of $141.66 and a one year high of $191.86. The company has a market capitalization of $5.08 billion, a P/E ratio of 8.44, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, May 8th. The company reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.11. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. Nexstar Media Group had a return on equity of 29.21% and a net margin of 12.21%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.16 earnings per share. Analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a dividend of $1.86 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $7.44 annualized dividend and a dividend yield of 4.47%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 37.69%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wall Street Zen downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Benchmark lowered their price target on Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. 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. Loop Capital upgraded Nexstar Media Group from a “hold” rating to a “buy” rating and boosted their target price for the company from $190.00 to $200.00 in a research note on Friday, February 28th. Finally, Guggenheim boosted their target price on Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $205.71.

Institutional Trading of Nexstar Media Group

Several large investors have recently made changes to their positions in NXST. Demars Financial Group LLC boosted its stake in shares of Nexstar Media Group by 16,009.5% during the 4th quarter. Demars Financial Group LLC now owns 773,737 shares of the company’s stock worth $122,227,000 after acquiring an additional 768,934 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Nexstar Media Group by 71,715.8% during the 1st quarter. Jones Financial Companies Lllp now owns 394,987 shares of the company’s stock worth $70,790,000 after acquiring an additional 394,437 shares in the last quarter. New Vernon Capital Holdings II LLC bought a new stake in shares of Nexstar Media Group during the 1st quarter worth about $60,064,000. Norges Bank bought a new stake in shares of Nexstar Media Group during the 4th quarter worth about $44,460,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Nexstar Media Group by 611.5% during the 1st quarter. Victory Capital Management Inc. now owns 289,668 shares of the company’s stock worth $51,914,000 after acquiring an additional 248,957 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

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.