Nexstar Media Group, Inc. (NASDAQ:NXST) Director Sells $1,707,000.00 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) Director Jay M. Grossman sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $170.70, for a total transaction of $1,707,000.00. Following the transaction, the director now owns 54,625 shares in the company, valued at approximately $9,324,487.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Nexstar Media Group Price Performance

NASDAQ NXST traded down $1.10 during trading on Wednesday, hitting $167.92. 236,383 shares of the stock traded hands, compared to its average volume of 329,551. The company has a market capitalization of $5.53 billion, a P/E ratio of 14.30, a price-to-earnings-growth ratio of 0.18 and a beta of 1.50. Nexstar Media Group, Inc. has a 12-month low of $132.30 and a 12-month high of $187.27. The firm has a 50-day simple moving average of $170.08 and a 200-day simple moving average of $165.68. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 2.92.

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

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a dividend of $1.69 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.76 annualized dividend and a yield of 4.03%. Nexstar Media Group’s payout ratio is currently 57.19%.

Institutional Investors Weigh In On Nexstar Media Group

Several institutional investors have recently modified their holdings of the stock. Quadrant Capital Group LLC raised its holdings in Nexstar Media Group by 41.1% during the 4th quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock valued at $46,000 after buying an additional 86 shares during the period. Personal CFO Solutions LLC boosted its stake in shares of Nexstar Media Group by 7.1% during the 4th quarter. Personal CFO Solutions LLC now owns 3,066 shares of the company’s stock worth $481,000 after purchasing an additional 202 shares during the period. Chicago Partners Investment Group LLC bought a new position in Nexstar Media Group during the 4th quarter valued at about $232,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Nexstar Media Group in the 1st quarter worth about $2,111,000. Finally, Vanguard Group Inc. lifted its stake in Nexstar Media Group by 3.9% in the first quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock worth $580,689,000 after purchasing an additional 127,783 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NXST shares. Barrington Research reiterated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of 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. Benchmark restated a “buy” rating and issued a $225.00 price objective on shares of Nexstar Media Group in a research note on Friday, August 9th. Wells Fargo & Company decreased their target price on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Finally, StockNews.com downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Nexstar Media Group has an average rating of “Moderate Buy” and a consensus price target of $201.67.

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.