Insider Selling: Nexstar Media Group, Inc. (NASDAQ:NXST) Director Sells 1,000 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) Director Charles Thomas Mcmillen sold 1,000 shares of Nexstar Media Group stock in a transaction on Monday, June 28th. The stock was sold at an average price of $151.73, for a total transaction of $151,730.00. Following the transaction, the director now owns 5,535 shares in the company, valued at approximately $839,825.55. This trade represents a 15.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Charles Thomas Mcmillen also recently made the following trade(s):

• On Wednesday, March 5th, Charles Thomas Mcmillen sold 2,000 shares of Nexstar Media Group stock. The stock was sold at an average price of $169.51, for a total value of $339,020.00.

Nexstar Media Group Price Performance

Shares of Nexstar Media Group stock opened at $176.45 on Monday. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. Nexstar Media Group, Inc. has a one year low of $146.04 and a one year high of $191.86. The business’s 50 day simple moving average is $162.36 and its two-hundred day simple moving average is $164.63. The stock has a market capitalization of $5.38 billion, a P/E ratio of 10.21, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, February 27th. The company reported $7.56 earnings per share for the quarter, missing the consensus estimate of $9.22 by ($1.66). The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.48 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. Analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a dividend of $1.86 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. This represents a $7.44 annualized dividend and a dividend yield of 4.22%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 34.56%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Loop Capital raised Nexstar Media Group from a “hold” rating to a “buy” rating and increased their price target for the company from $190.00 to $200.00 in a research note on Friday, February 28th. Guggenheim raised their target price on Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. StockNews.com downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research report on Monday, March 10th. Finally, Barrington Research reiterated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Wednesday, March 5th. 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $208.43.

Institutional Trading of Nexstar Media Group

A number of institutional investors have recently made changes to their positions in NXST. Brooklyn Investment Group purchased a new position in shares of Nexstar Media Group during the 3rd quarter worth $25,000. SBI Securities Co. Ltd. purchased a new stake in shares of Nexstar Media Group during the 4th quarter valued at about $25,000. True Wealth Design LLC bought a new stake in Nexstar Media Group in the third quarter worth $30,000. Wilmington Savings Fund Society FSB bought a new position in Nexstar Media Group in the 3rd quarter valued at $33,000. Finally, Jones Financial Companies Lllp grew its stake in Nexstar Media Group by 15.3% in the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock worth $87,000 after acquiring an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

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.