Andrew Alford Sells 3,175 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Andrew Alford sold 3,175 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $167.82, for a total value of $532,828.50. Following the completion of the transaction, the insider now owns 9,173 shares in the company, valued at approximately $1,539,412.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Nexstar Media Group Trading Up 1.3 %

Shares of NASDAQ NXST opened at $164.73 on Friday. Nexstar Media Group, Inc. has a twelve month low of $132.30 and a twelve month high of $187.27. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 2.92. The stock has a fifty day simple moving average of $168.70 and a 200-day simple moving average of $165.89. The stock has a market capitalization of $5.43 billion, a PE ratio of 13.94, a PEG ratio of 0.19 and a beta of 1.49.

Nexstar Media Group (NASDAQ:NXST) last issued 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). Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the firm posted $2.64 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities analysts forecast that Nexstar Media Group, Inc. will post 25.72 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, August 23rd. Investors of record on Friday, August 9th were paid a dividend of $1.69 per share. The ex-dividend date was Friday, August 9th. This represents a $6.76 annualized dividend and a yield of 4.10%. Nexstar Media Group’s payout ratio is 57.19%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NXST. Capital Research Global Investors acquired a new position in Nexstar Media Group during the 1st quarter worth $92,323,000. Point72 Asset Management L.P. grew its stake 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 purchasing an additional 358,920 shares in the last quarter. Norges Bank acquired a new position in Nexstar Media Group during the 4th quarter worth $51,812,000. Vanguard Group Inc. grew its stake 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 purchasing an additional 127,783 shares in the last quarter. Finally, Payden & Rygel Investment Group acquired a new position in Nexstar Media Group during the 1st quarter worth $15,144,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NXST. Benchmark reiterated a “buy” rating and set a $225.00 price objective on shares of Nexstar Media Group in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their target price on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Thursday. Barrington Research restated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, August 8th. Finally, Wells Fargo & Company reduced their target price on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Nexstar Media Group has a consensus rating of “Buy” and an average target price of $201.67.

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.