Blake Russell Sells 523 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Blake Russell sold 523 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $149.08, for a total transaction of $77,968.84. Following the sale, the executive vice president now directly owns 27,111 shares of the company’s stock, valued at approximately $4,041,707.88. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Blake Russell also recently made the following trade(s):

• On Monday, May 20th, Blake Russell sold 433 shares of Nexstar Media Group stock. The stock was sold at an average price of $167.43, for a total transaction of $72,497.19.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST opened at $151.94 on Thursday. The stock has a market cap of $4.99 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 0.55 and a beta of 1.48. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.80 and a current ratio of 1.80. Nexstar Media Group, Inc. has a fifty-two week low of $132.30 and a fifty-two week high of $187.32. The firm’s 50-day simple moving average is $161.96 and its 200 day simple moving average is $163.75.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Thursday, May 9th. The company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.28 by $0.88. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. Nexstar Media Group had a return on equity of 17.18% and a net margin of 8.29%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $2.97 earnings per share. As a group, research analysts anticipate that Nexstar Media Group, Inc. will post 27.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

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

Institutional Trading of Nexstar Media Group

Several institutional investors have recently made changes to their positions in the company. Pathstone Family Office LLC bought a new stake in Nexstar Media Group in the 3rd quarter worth about $333,000. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Nexstar Media Group by 15.8% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,259 shares of the company’s stock valued at $467,000 after acquiring an additional 445 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Nexstar Media Group by 12.2% in the third quarter. Rhumbline Advisers now owns 121,463 shares of the company’s stock valued at $17,414,000 after acquiring an additional 13,253 shares in the last quarter. QRG Capital Management Inc. purchased a new stake in shares of Nexstar Media Group during the third quarter valued at approximately $524,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in Nexstar Media Group during the third quarter worth $476,000. Institutional investors own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NXST shares. Barrington Research reiterated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, May 9th. Rosenblatt Securities decreased their target price on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. Loop Capital upgraded Nexstar Media Group to a “strong-buy” rating in a report on Friday, May 10th. Wells Fargo & Company raised Nexstar Media Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $190.00 to $221.00 in a research note on Monday, May 13th. Finally, Benchmark restated a “buy” rating and set a $225.00 price objective on shares of Nexstar Media Group in a report on Friday, May 10th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Nexstar Media Group has a consensus rating of “Moderate Buy” and a consensus price target of $206.00.

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.