Insider Selling: Nexstar Media Group, Inc. (NASDAQ:NXST) Director Sells 2,385 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) Director John R. Muse sold 2,385 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $170.16, for a total transaction of $405,831.60. Following the transaction, the director now owns 25,978 shares in the company, valued at $4,420,416.48. The trade was a 8.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Nexstar Media Group Trading Up 0.5 %

NASDAQ NXST opened at $170.61 on Tuesday. The stock has a market cap of $5.29 billion, a P/E ratio of 9.87, a price-to-earnings-growth ratio of 0.20 and a beta of 1.48. Nexstar Media Group, Inc. has a fifty-two week low of $141.38 and a fifty-two week high of $191.86. The stock has a 50 day simple moving average of $168.98 and a two-hundred day simple moving average of $167.16. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The business’s revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 EPS. On average, analysts forecast 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 declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group’s dividend payout ratio is currently 39.10%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Loop Capital lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating and reduced their target price for the company from $200.00 to $190.00 in a report on Friday, November 8th. Benchmark reaffirmed a “buy” rating and set a $215.00 price objective on shares of Nexstar Media Group in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft lowered their target price on 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. Guggenheim reduced their price target on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Finally, Barrington Research reiterated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and an average target price of $198.50.

Institutional Trading of Nexstar Media Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. raised its position in shares of Nexstar Media Group by 8.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,378 shares of the company’s stock worth $410,000 after acquiring an additional 188 shares in the last quarter. Redwood Investment Management LLC raised its holdings in 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 purchasing an additional 1,644 shares in the last quarter. EMC Capital Management lifted its position in Nexstar Media Group by 35.8% during the first quarter. EMC Capital Management now owns 3,116 shares of the company’s stock valued at $537,000 after buying an additional 821 shares during the period. Granite Group Advisors LLC boosted its holdings in shares of Nexstar Media Group by 5.1% during the 1st quarter. Granite Group Advisors LLC now owns 1,489 shares of the company’s stock valued at $257,000 after buying an additional 72 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Nexstar Media Group by 112.2% in the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock worth $49,000 after buying an additional 156 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

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.