Insider Selling: Nexstar Media Group, Inc. (NASDAQ:NXST) CEO Sells 35,205 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) CEO Perry A. Sook sold 35,205 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $162.13, for a total transaction of $5,707,786.65. Following the completion of the sale, the chief executive officer now owns 674,694 shares in the company, valued at $109,388,138.22. This trade represents a 4.96 % 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 this hyperlink.

Nexstar Media Group Price Performance

NASDAQ:NXST opened at $158.49 on Friday. Nexstar Media Group, Inc. has a 12-month low of $147.25 and a 12-month high of $191.86. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 9.17, a P/E/G ratio of 0.20 and a beta of 1.45. The stock’s 50 day moving average price is $169.75 and its two-hundred day moving average price is $167.31. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the company posted $0.70 EPS. The firm’s revenue was up 20.7% on a year-over-year basis. On average, analysts anticipate that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend was Friday, November 15th. Nexstar Media Group’s dividend payout ratio is presently 39.10%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Brooklyn Investment Group acquired a new stake in Nexstar Media Group during the third quarter worth approximately $25,000. Whittier Trust Co. bought a new stake in Nexstar Media Group in the 2nd quarter valued at $27,000. True Wealth Design LLC bought a new stake in Nexstar Media Group in the 3rd quarter valued at $30,000. Wilmington Savings Fund Society FSB acquired a new position in Nexstar Media Group in the 3rd quarter valued at $33,000. Finally, Allspring Global Investments Holdings LLC increased its position in Nexstar Media Group by 3,700.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock worth $44,000 after buying an additional 259 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NXST. Benchmark reiterated a “buy” rating and issued a $215.00 price target on shares of Nexstar Media Group in a research note on Friday, November 8th. Loop Capital downgraded Nexstar Media Group from a “buy” rating to a “hold” rating and lowered their target price for the company from $200.00 to $190.00 in a research report on Friday, November 8th. Guggenheim reduced their price target on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, November 7th. Finally, StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $204.29.

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.