Andrew Alford Sells 3,768 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Andrew Alford sold 3,768 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.98, for a total transaction of $685,700.64. Following the transaction, the insider now directly owns 5,405 shares in the company, valued at approximately $983,601.90. This represents a 41.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Nexstar Media Group Stock Down 0.4 %

Shares of NASDAQ NXST traded down $0.75 during trading on Thursday, reaching $182.00. 27,514 shares of the stock were exchanged, compared to its average volume of 343,182. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 10.53, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47. The business’s 50-day moving average price is $161.33 and its 200 day moving average price is $164.39. 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, Inc. has a twelve month low of $146.04 and a twelve month high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, February 27th. The company reported $7.56 EPS for the quarter, missing analysts’ consensus estimates of $9.22 by ($1.66). The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. As a group, equities analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a $1.86 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.44 dividend on an annualized basis and a yield of 4.09%. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s dividend payout ratio is currently 34.56%.

Analyst Upgrades and Downgrades

NXST has been the topic of several research reports. Guggenheim increased their target price on Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. StockNews.com downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Wednesday, March 5th. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Monday, March 10th. Finally, Loop Capital raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating and raised their target price for the company from $190.00 to $200.00 in a research note on Friday, February 28th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $208.43.

Institutional Investors Weigh In On Nexstar Media Group

A number of hedge funds have recently bought and sold shares of the business. Cerity Partners LLC boosted its stake in shares of Nexstar Media Group by 99.7% during the 3rd quarter. Cerity Partners LLC now owns 7,136 shares of the company’s stock valued at $1,180,000 after buying an additional 3,563 shares during the last quarter. Loomis Sayles & Co. L P raised its holdings in Nexstar Media Group by 1.2% in the third quarter. Loomis Sayles & Co. L P now owns 74,622 shares of the company’s stock valued at $12,339,000 after acquiring an additional 897 shares in the last quarter. Hancock Whitney Corp raised its holdings in Nexstar Media Group by 11.6% in the third quarter. Hancock Whitney Corp now owns 2,442 shares of the company’s stock valued at $404,000 after acquiring an additional 254 shares in the last quarter. D.A. Davidson & CO. boosted its stake in Nexstar Media Group by 1.5% during the 3rd quarter. D.A. Davidson & CO. now owns 23,632 shares of the company’s stock valued at $3,908,000 after acquiring an additional 340 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in Nexstar Media Group during the 3rd quarter worth $25,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

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.