Nexstar Media Group, Inc. (NASDAQ:NXST) Director D Geoffrey Armstrong Sells 2,000 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) Director D Geoffrey Armstrong sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $166.38, for a total transaction of $332,760.00. Following the transaction, the director now owns 7,250 shares in the company, valued at approximately $1,206,255. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Nexstar Media Group Trading Up 1.5 %

Shares of NXST opened at $169.02 on Wednesday. The business’s 50-day moving average price is $170.04 and its 200 day moving average price is $165.64. 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 market capitalization of $5.57 billion, a P/E ratio of 14.30, a P/E/G ratio of 0.18 and a beta of 1.50. Nexstar Media Group, Inc. has a 1-year low of $132.30 and a 1-year high of $187.27.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $4.48 by ($0.94). Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the business earned $2.64 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. Analysts expect that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend was Friday, August 9th. Nexstar Media Group’s payout ratio is 57.19%.

Analysts Set New Price Targets

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

Institutional Trading of Nexstar Media Group

Several large investors have recently added to or reduced their stakes in the company. Whittier Trust Co. purchased a new position in shares of Nexstar Media Group during the second quarter valued at $27,000. EverSource Wealth Advisors LLC boosted its position in Nexstar Media Group by 632.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock worth $32,000 after acquiring an additional 177 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Nexstar Media Group by 3,700.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after acquiring an additional 259 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Nexstar Media Group by 41.1% in the 4th quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock valued at $46,000 after purchasing an additional 86 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Nexstar Media Group by 112.2% in the second quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock worth $49,000 after purchasing an additional 156 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

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.