Nexstar Media Group, Inc. (NASDAQ:NXST) Director Sells $119,947.50 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) Director Charles Thomas Mcmillen sold 750 shares of Nexstar Media Group stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $159.93, for a total transaction of $119,947.50. Following the completion of the transaction, the director now directly owns 6,975 shares in the company, valued at approximately $1,115,511.75. The trade was a 9.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Nexstar Media Group Stock Performance

Shares of Nexstar Media Group stock opened at $159.14 on Friday. Nexstar Media Group, Inc. has a 12 month low of $147.25 and a 12 month high of $191.86. The firm has a market capitalization of $4.94 billion, a P/E ratio of 9.20, a P/E/G ratio of 0.20 and a beta of 1.45. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. The business has a fifty day simple moving average of $168.68 and a two-hundred day simple moving average of $167.33.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly 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 for the quarter, compared to analysts’ expectations of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The company’s revenue was up 20.7% on a year-over-year basis. During the same period last year, the business earned $0.70 earnings per share. On average, equities analysts forecast that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC raised its position in shares of Nexstar Media Group by 57.8% in the 3rd 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 purchased a new position in Nexstar Media Group in the third quarter worth about $33,000. World Investment Advisors LLC bought a new position in shares of Nexstar Media Group in the third quarter worth approximately $3,747,000. TD Private Client Wealth LLC grew its holdings in shares of Nexstar Media Group by 22.0% during the third quarter. TD Private Client Wealth LLC now owns 964 shares of the company’s stock valued at $159,000 after buying an additional 174 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its position in shares of Nexstar Media Group by 39.1% during the third 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. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

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

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.