Nexstar Media Group, Inc. (NASDAQ:NXST) CEO Sells $5,929,183.50 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) CEO Perry A. Sook sold 37,025 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $160.14, for a total transaction of $5,929,183.50. Following the transaction, the chief executive officer now owns 674,694 shares in the company, valued at approximately $108,045,497.16. This trade represents a 5.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Nexstar Media Group Stock Performance

Shares of NXST stock opened at $159.14 on Friday. The firm’s 50 day moving average is $168.68 and its 200 day moving average is $167.33. The stock has a market capitalization of $4.94 billion, a P/E ratio of 9.20, a PEG ratio of 0.20 and a beta of 1.45. Nexstar Media Group, Inc. has a 12 month low of $147.25 and a 12 month high of $191.86. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.51 by ($0.24). The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company’s revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 EPS. On average, sell-side analysts anticipate that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $1.69 dividend. The ex-dividend date was Friday, November 15th. This represents a $6.76 annualized dividend and a yield of 4.25%. Nexstar Media Group’s dividend payout ratio is currently 39.10%.

Institutional Investors Weigh In On Nexstar Media Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its stake in Nexstar Media Group by 67.8% during the third quarter. BNP Paribas Financial Markets now owns 26,239 shares of the company’s stock valued at $4,339,000 after acquiring an additional 10,603 shares in the last quarter. SGL Investment Advisors Inc. bought a new position in Nexstar Media Group in the 3rd quarter valued at $3,758,000. Charles Schwab Investment Management Inc. grew its position in shares of Nexstar Media Group by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company’s stock valued at $179,149,000 after purchasing an additional 7,117 shares in the last quarter. Quest Partners LLC grew its position in shares of Nexstar Media Group by 661.4% during the 3rd quarter. Quest Partners LLC now owns 8,672 shares of the company’s stock valued at $1,434,000 after purchasing an additional 7,533 shares in the last quarter. Finally, Holocene Advisors LP raised its position in shares of Nexstar Media Group by 680.9% in the third quarter. Holocene Advisors LP now owns 17,219 shares of the company’s stock worth $2,847,000 after buying an additional 15,014 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Guggenheim cut their target price on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Benchmark restated a “buy” rating and issued a $215.00 price objective on shares of Nexstar Media Group in a research note on Friday, November 8th. Barrington Research reiterated an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, November 7th. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Loop Capital lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $200.00 to $190.00 in a research report on Friday, November 8th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $204.29.

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.