Nexstar Media Group, Inc. (NASDAQ:NXST) Insider Sells $77,819.76 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Gary Weitman sold 522 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $149.08, for a total value of $77,819.76. Following the completion of the sale, the insider now owns 12,477 shares of the company’s stock, valued at $1,860,071.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Gary Weitman also recently made the following trade(s):

• On Tuesday, June 4th, Gary Weitman sold 528 shares of Nexstar Media Group stock. The stock was sold at an average price of $160.00, for a total transaction of $84,480.00.
• On Monday, May 20th, Gary Weitman sold 432 shares of Nexstar Media Group stock. The stock was sold at an average price of $167.43, for a total transaction of $72,329.76.

Nexstar Media Group Price Performance

NXST stock opened at $151.94 on Wednesday. The stock has a market cap of $4.99 billion, a price-to-earnings ratio of 12.85, a P/E/G ratio of 0.55 and a beta of 1.48. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.80 and a quick ratio of 1.80. The company has a 50 day simple moving average of $162.18 and a 200 day simple moving average of $163.83. Nexstar Media Group, Inc. has a 1 year low of $132.30 and a 1 year high of $187.32.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, May 9th. The company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.28 by $0.88. Nexstar Media Group had a return on equity of 17.18% and a net margin of 8.29%. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the prior year, the company earned $2.97 EPS. Nexstar Media Group’s revenue was up 2.1% compared to the same quarter last year. Research analysts anticipate that Nexstar Media Group, Inc. will post 27.62 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were issued a $1.69 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.76 dividend on an annualized basis and a yield of 4.45%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 57.19%.

Analyst Upgrades and Downgrades

A number of research firms have commented on NXST. Rosenblatt Securities lowered their price objective on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. Benchmark reaffirmed a “buy” rating and issued a $225.00 price target on shares of Nexstar Media Group in a research note on Friday, May 10th. Loop Capital upgraded shares of Nexstar Media Group to a “strong-buy” rating in a research note on Friday, May 10th. 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, May 9th. Finally, Wells Fargo & Company raised shares of Nexstar Media Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $190.00 to $221.00 in a research note on Monday, May 13th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $206.00.

Institutional Investors Weigh In On Nexstar Media Group

A number of institutional investors have recently added to or reduced their stakes in NXST. Quadrant Capital Group LLC increased its holdings in Nexstar Media Group by 41.1% in the fourth 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. Personal CFO Solutions LLC lifted its stake in shares of Nexstar Media Group by 7.1% in the fourth quarter. Personal CFO Solutions LLC now owns 3,066 shares of the company’s stock worth $481,000 after acquiring an additional 202 shares during the period. Copeland Capital Management LLC boosted its holdings in Nexstar Media Group by 3.4% in the fourth quarter. Copeland Capital Management LLC now owns 519,567 shares of the company’s stock valued at $81,442,000 after acquiring an additional 16,928 shares during the last quarter. American Century Companies Inc. increased its position in Nexstar Media Group by 519.6% during the 3rd quarter. American Century Companies Inc. now owns 51,659 shares of the company’s stock valued at $7,406,000 after purchasing an additional 43,322 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in Nexstar Media Group by 72.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 12,182 shares of the company’s stock worth $1,747,000 after purchasing an additional 5,121 shares during the last quarter. 95.30% of the stock is owned by 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.