Insider Selling: Nexstar Media Group, Inc. (NASDAQ:NXST) Insider Sells 7,261 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Gary Weitman sold 7,261 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $164.80, for a total value of $1,196,612.80. Following the completion of the sale, the insider now owns 5,216 shares in the company, valued at approximately $859,596.80. The transaction was disclosed in a filing with the SEC, which is available at this link.

Nexstar Media Group Price Performance

NASDAQ:NXST opened at $163.84 on Thursday. The stock has a 50 day moving average of $168.02 and a two-hundred day moving average of $165.88. Nexstar Media Group, Inc. has a 12 month low of $132.30 and a 12 month high of $187.27. The firm has a market cap of $5.40 billion, a P/E ratio of 13.85, a price-to-earnings-growth ratio of 0.19 and a beta of 1.49. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 2.92.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Thursday, August 8th. The company reported $3.54 EPS for the quarter, missing the consensus estimate of $4.48 by ($0.94). The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.64 earnings per share. On average, analysts expect that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $1.69 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.76 dividend on an annualized basis and a yield of 4.13%. Nexstar Media Group’s payout ratio is presently 57.19%.

Institutional Trading of Nexstar Media Group

Large investors have recently bought and sold shares of the business. Stifel Financial Corp grew its position in shares of Nexstar Media Group by 40.7% in the fourth quarter. Stifel Financial Corp now owns 35,809 shares of the company’s stock valued at $5,613,000 after purchasing an additional 10,350 shares in the last quarter. TFO Wealth Partners LLC grew its holdings in Nexstar Media Group by 21,766.7% in the 4th quarter. TFO Wealth Partners LLC now owns 656 shares of the company’s stock valued at $103,000 after buying an additional 653 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Nexstar Media Group in the 4th quarter worth $1,351,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in shares of Nexstar Media Group during the 4th quarter worth $2,526,000. Finally, Personal CFO Solutions LLC boosted its position in shares of Nexstar Media Group by 7.1% during the 4th quarter. Personal CFO Solutions LLC now owns 3,066 shares of the company’s stock valued at $481,000 after acquiring an additional 202 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Thursday, September 26th. Wells Fargo & Company lowered their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Benchmark restated a “buy” rating and issued a $225.00 price target on shares of Nexstar Media Group in a research note on Friday, August 9th. Barrington Research reiterated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Nexstar Media Group currently has an average rating of “Buy” and an average target price of $201.67.

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.