Nexstar Media Group, Inc. (NASDAQ:NXST) Director Sells $150,500.00 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) Director Lisbeth Mcnabb sold 875 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $172.00, for a total transaction of $150,500.00. Following the sale, the director now owns 5,752 shares of the company’s stock, valued at approximately $989,344. The trade was a 13.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST traded up $1.61 during trading on Tuesday, hitting $169.15. The company had a trading volume of 244,366 shares, compared to its average volume of 325,227. The company has a market cap of $5.25 billion, a P/E ratio of 9.69, a PEG ratio of 0.20 and a beta of 1.45. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The business’s 50-day moving average is $169.97 and its 200 day moving average is $167.25. Nexstar Media Group, Inc. has a 52 week low of $142.25 and a 52 week high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing the consensus estimate of $5.51 by ($0.24). The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.70 earnings per share. Equities research analysts predict that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $1.69 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.00%. Nexstar Media Group’s dividend payout ratio is currently 39.10%.

Hedge Funds Weigh In On Nexstar Media Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its stake in Nexstar Media Group by 67.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 26,239 shares of the company’s stock valued at $4,339,000 after purchasing an additional 10,603 shares during the period. SGL Investment Advisors Inc. purchased a new position in shares of Nexstar Media Group during the third quarter valued at $3,758,000. Charles Schwab Investment Management Inc. raised its position in Nexstar Media Group by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company’s stock valued at $179,149,000 after buying an additional 7,117 shares during the period. Quest Partners LLC lifted its stake in Nexstar Media Group by 661.4% in the 3rd quarter. Quest Partners LLC now owns 8,672 shares of the company’s stock worth $1,434,000 after acquiring an additional 7,533 shares in the last quarter. Finally, Holocene Advisors LP lifted its stake in Nexstar Media Group by 680.9% in the 3rd quarter. Holocene Advisors LP now owns 17,219 shares of the company’s stock worth $2,847,000 after acquiring an additional 15,014 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NXST. Guggenheim reduced their price objective on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Benchmark reiterated a “buy” rating and set a $215.00 price target on shares of Nexstar Media Group in a research report on Friday, November 8th. Barrington Research reissued an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, November 7th. StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Finally, Loop Capital cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating and lowered their target price for the company from $200.00 to $190.00 in a research note on Friday, November 8th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Nexstar Media Group presently has an average rating of “Moderate Buy” and an average target price of $204.29.

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.