Insider Selling: Nexstar Media Group, Inc. (NASDAQ:NXST) Director Sells $1,707,000.00 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) Director Jay M. Grossman sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $170.70, for a total transaction of $1,707,000.00. Following the sale, the director now directly owns 54,625 shares of the company’s stock, valued at approximately $9,324,487.50. The sale was disclosed in a filing with the SEC, which is available at this link.

Nexstar Media Group Stock Performance

NASDAQ:NXST opened at $166.40 on Friday. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78. The stock has a market capitalization of $5.48 billion, a P/E ratio of 14.08, a PEG ratio of 0.18 and a beta of 1.50. The company has a 50 day moving average price of $169.72 and a 200 day moving average price of $165.78. Nexstar Media Group, Inc. has a fifty-two week low of $132.30 and a fifty-two week high of $187.27.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). The company 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 business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.64 EPS. Equities research analysts forecast that Nexstar Media Group, Inc. will post 25.72 EPS for the current year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued 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 4.06%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 57.19%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. StockNews.com cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, August 8th. Wells Fargo & Company dropped their price target on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Finally, Benchmark reissued a “buy” rating and issued a $225.00 price target on shares of Nexstar Media Group in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $201.67.

Institutional Investors Weigh In On Nexstar Media Group

A number of hedge funds have recently added to or reduced their stakes in NXST. Capital Research Global Investors acquired a new stake in Nexstar Media Group during the 1st quarter worth approximately $92,323,000. Point72 Asset Management L.P. lifted its holdings in Nexstar Media Group by 392.6% during the 4th quarter. Point72 Asset Management L.P. now owns 450,351 shares of the company’s stock worth $70,593,000 after buying an additional 358,920 shares in the last quarter. Norges Bank acquired a new stake in Nexstar Media Group during the 4th quarter worth approximately $51,812,000. Vanguard Group Inc. lifted its holdings in Nexstar Media Group by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock worth $580,689,000 after buying an additional 127,783 shares in the last quarter. Finally, Payden & Rygel Investment Group acquired a new stake in Nexstar Media Group during the 1st quarter worth approximately $15,144,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

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.