Michael Biard Sells 2,458 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) COO Michael Biard sold 2,458 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $169.28, for a total value of $416,090.24. Following the completion of the sale, the chief operating officer now directly owns 3,792 shares in the company, valued at $641,909.76. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Nexstar Media Group Stock Performance

Shares of NASDAQ:NXST opened at $171.55 on Friday. The company has a market cap of $5.65 billion, a P/E ratio of 14.51, a PEG ratio of 0.65 and a beta of 1.50. 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 one year low of $132.30 and a one year high of $187.27. The business’s 50-day simple moving average is $168.21 and its 200 day simple moving average is $165.78.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, August 8th. The company reported $3.54 EPS for the quarter, missing the consensus estimate of $4.48 by ($0.94). The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.64 earnings per share. On average, sell-side analysts forecast that Nexstar Media Group, Inc. will post 27.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a dividend of $1.69 per share. The ex-dividend date was Friday, August 9th. This represents a $6.76 annualized dividend and a yield of 3.94%. Nexstar Media Group’s dividend payout ratio is presently 57.19%.

Institutional Investors Weigh In On Nexstar Media Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Whittier Trust Co. acquired a new position in shares of Nexstar Media Group in the 2nd quarter worth approximately $27,000. EverSource Wealth Advisors LLC grew its position in shares of Nexstar Media Group by 632.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock worth $32,000 after acquiring an additional 177 shares in the last quarter. First United Bank & Trust acquired a new position in shares of Nexstar Media Group in the 4th quarter worth approximately $33,000. SRS Capital Advisors Inc. boosted its position in Nexstar Media Group by 350.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 239 shares of the company’s stock valued at $37,000 after purchasing an additional 186 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in Nexstar Media Group by 3,700.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after purchasing an additional 259 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on NXST. Loop Capital upgraded Nexstar Media Group to a “strong-buy” rating in a report on Friday, May 10th. Benchmark restated a “buy” rating and issued a $225.00 price objective on shares of Nexstar Media Group in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft cut their price objective on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Wells Fargo & Company cut their price objective 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, Barrington Research restated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus 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.