Nexstar Media Group, Inc. (NASDAQ:NXST) Insider Sells $739,041.84 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Brett Jenkins sold 4,331 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $170.64, for a total transaction of $739,041.84. Following the sale, the insider now directly owns 25,540 shares of the company’s stock, valued at approximately $4,358,145.60. This trade represents a 14.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Nexstar Media Group Stock Up 0.5 %

Shares of NASDAQ:NXST traded up $0.86 during trading on Monday, hitting $170.61. The company’s stock had a trading volume of 329,466 shares, compared to its average volume of 329,774. The company has a market capitalization of $5.29 billion, a PE ratio of 9.87, a PEG 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 company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The stock’s 50-day moving average price is $168.98 and its two-hundred day moving average price is $167.16.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, November 7th. The company reported $5.27 earnings per share (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 analyst estimates of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.70 earnings per share. As a group, sell-side analysts expect that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $1.69 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a yield of 3.96%. Nexstar Media Group’s dividend payout ratio (DPR) is 39.10%.

Institutional Investors Weigh In On Nexstar Media Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Tidal Investments LLC lifted its position in shares of Nexstar Media Group by 57.8% during the third quarter. Tidal Investments LLC now owns 3,217 shares of the company’s stock worth $532,000 after purchasing an additional 1,178 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Nexstar Media Group in the 3rd quarter worth approximately $33,000. World Investment Advisors LLC acquired a new position in shares of Nexstar Media Group in the 3rd quarter worth approximately $3,747,000. TD Private Client Wealth LLC increased its holdings in shares of Nexstar Media Group by 22.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 964 shares of the company’s stock valued at $159,000 after acquiring an additional 174 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its position in shares of Nexstar Media Group by 39.1% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,092 shares of the company’s stock valued at $181,000 after acquiring an additional 307 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on NXST. Wells Fargo & Company dropped their price objective on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft reduced their price objective on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Loop Capital lowered 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. Finally, Benchmark reiterated a “buy” rating and set a $215.00 target price on shares of Nexstar Media Group in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Nexstar Media Group has a consensus rating of “Moderate Buy” and an average price target of $198.50.

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.