Insider Selling: Nexstar Media Group, Inc. (NASDAQ:NXST) CFO Sells 747 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) CFO Lee Ann Gliha sold 747 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $149.08, for a total value of $111,362.76. Following the completion of the transaction, the chief financial officer now directly owns 6,591 shares of the company’s stock, valued at $982,586.28. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Lee Ann Gliha also recently made the following trade(s):

• On Tuesday, June 4th, Lee Ann Gliha sold 326 shares of Nexstar Media Group stock. The stock was sold at an average price of $160.00, for a total value of $52,160.00.

Nexstar Media Group Stock Performance

Shares of NXST stock traded up $0.03 during mid-day trading on Tuesday, reaching $151.94. The stock had a trading volume of 400,514 shares, compared to its average volume of 339,335. The business’s fifty day moving average is $162.53 and its 200-day moving average is $163.81. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 2.85. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 0.55 and a beta of 1.48. Nexstar Media Group, Inc. has a 1-year low of $132.30 and a 1-year high of $187.32.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, May 9th. The company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.28 by $0.88. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. Nexstar Media Group had a return on equity of 17.18% and a net margin of 8.29%. The company’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.97 earnings per share. On average, research analysts forecast that Nexstar Media Group, Inc. will post 27.62 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were issued a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date was Thursday, May 9th. Nexstar Media Group’s dividend payout ratio is presently 57.19%.

Institutional Trading of Nexstar Media Group

A number of hedge funds have recently modified their holdings of the stock. Granite Group Advisors LLC boosted its stake in shares of Nexstar Media Group by 5.1% in the first quarter. Granite Group Advisors LLC now owns 1,489 shares of the company’s stock worth $257,000 after buying an additional 72 shares during the last quarter. EMC Capital Management boosted its stake in shares of Nexstar Media Group by 35.8% in the first quarter. EMC Capital Management now owns 3,116 shares of the company’s stock worth $537,000 after buying an additional 821 shares during the last quarter. Redwood Investment Management LLC boosted its stake in shares of Nexstar Media Group by 5.5% in the first quarter. Redwood Investment Management LLC now owns 31,490 shares of the company’s stock worth $5,425,000 after buying an additional 1,644 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of Nexstar Media Group by 8.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 2,378 shares of the company’s stock worth $410,000 after buying an additional 188 shares during the last quarter. Finally, Capital Research Global Investors purchased a new stake in shares of Nexstar Media Group in the first quarter worth about $92,323,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on NXST shares. Rosenblatt Securities reduced their price target on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. Wells Fargo & Company raised Nexstar Media Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $190.00 to $221.00 in a research report on Monday, May 13th. Loop Capital raised Nexstar Media Group to a “strong-buy” rating in a research report on Friday, May 10th. Benchmark reaffirmed a “buy” rating and set a $225.00 target price on shares of Nexstar Media Group in a research report on Friday, May 10th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Nexstar Media Group currently has an average rating of “Moderate Buy” and a consensus target price of $206.00.

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.