Nexstar Media Group, Inc. (NASDAQ:NXST) Insider Sells $84,277.50 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Gary Weitman sold 510 shares of the company’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total value of $84,277.50. Following the completion of the transaction, the insider now directly owns 8,229 shares in the company, valued at approximately $1,359,842.25. The trade was a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Gary Weitman also recently made the following trade(s):

• On Wednesday, June 4th, Gary Weitman sold 325 shares of Nexstar Media Group stock. The shares were sold at an average price of $167.25, for a total value of $54,356.25.
• On Tuesday, May 27th, Gary Weitman sold 363 shares of Nexstar Media Group stock. The shares were sold at an average price of $173.59, for a total value of $63,013.17.
• On Tuesday, May 20th, Gary Weitman sold 424 shares of Nexstar Media Group stock. The shares were sold at an average price of $175.53, for a total value of $74,424.72.

Nexstar Media Group Price Performance

Shares of NXST opened at $166.59 on Friday. The business’s 50-day moving average is $162.82 and its two-hundred day moving average is $162.02. The company has a market capitalization of $5.08 billion, a P/E ratio of 8.44, a P/E/G ratio of 1.22 and a beta of 1.05. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.74 and a current ratio of 1.74. Nexstar Media Group, Inc. has a fifty-two week low of $141.66 and a fifty-two week high of $191.86.

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

Nexstar Media Group Announces Dividend

The company also recently announced 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. This represents a $7.44 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend was Monday, May 19th. Nexstar Media Group’s payout ratio is currently 37.69%.

Institutional Investors Weigh In On Nexstar Media Group

Hedge funds have recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in shares of Nexstar Media Group during the 4th quarter worth about $25,000. Whipplewood Advisors LLC boosted its stake in shares of Nexstar Media Group by 830.3% during the 1st quarter. Whipplewood Advisors LLC now owns 307 shares of the company’s stock worth $55,000 after acquiring an additional 274 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Nexstar Media Group by 2,293.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 383 shares of the company’s stock worth $69,000 after acquiring an additional 367 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Nexstar Media Group by 62.3% during the 1st quarter. First Horizon Advisors Inc. now owns 401 shares of the company’s stock worth $72,000 after acquiring an additional 154 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of Nexstar Media Group by 2,126.3% during the 1st quarter. Versant Capital Management Inc now owns 423 shares of the company’s stock worth $76,000 after acquiring an additional 404 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NXST. Wells Fargo & Company cut their target price 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. Barrington Research reissued an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research report on Tuesday, May 13th. Benchmark cut their price target 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. Wall Street Zen downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, Loop Capital raised Nexstar Media Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $190.00 to $200.00 in a research report on Friday, February 28th. One equities research 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 currently has an average rating of “Moderate Buy” and a consensus target price 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.