Insider Selling: Nexstar Media Group, Inc. (NASDAQ:NXST) Director Sells 250 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) Director Charles Thomas Mcmillen sold 250 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $164.44, for a total transaction of $41,110.00. Following the completion of the sale, the director now owns 7,725 shares of the company’s stock, valued at approximately $1,270,299. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Tuesday, September 10th, Charles Thomas Mcmillen sold 1,000 shares of Nexstar Media Group stock. The stock was sold at an average price of $160.00, for a total transaction of $160,000.00.

Nexstar Media Group Stock Performance

NASDAQ:NXST traded up $2.60 during midday trading on Thursday, reaching $165.14. The stock had a trading volume of 51,967 shares, compared to its average volume of 331,906. Nexstar Media Group, Inc. has a 1-year low of $132.30 and a 1-year high of $187.27. The firm’s fifty day simple moving average is $168.94 and its 200-day simple moving average is $165.90. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.78 and a quick ratio of 1.78. The stock has a market capitalization of $5.33 billion, a P/E ratio of 13.75, a PEG ratio of 0.19 and a beta of 1.49.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, August 8th. The company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.48 by ($0.94). The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.28 billion. Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.64 earnings per share. On average, equities research analysts forecast that Nexstar Media Group, Inc. will post 25.72 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a $1.69 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.76 annualized dividend and a yield of 4.09%. Nexstar Media Group’s dividend payout ratio is 57.19%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on NXST shares. 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. Wells Fargo & Company dropped their price target on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Barrington Research restated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, August 8th. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Benchmark restated a “buy” rating and set a $225.00 price target on shares of Nexstar Media Group in a research note on Friday, August 9th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $201.67.

Institutional Trading of Nexstar Media Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Granite Group Advisors LLC lifted its holdings in shares of Nexstar Media Group by 5.1% during the 1st quarter. Granite Group Advisors LLC now owns 1,489 shares of the company’s stock worth $257,000 after acquiring an additional 72 shares during the period. Klein Pavlis & Peasley Financial Inc. lifted its holdings in shares of Nexstar Media Group by 0.6% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,903 shares of the company’s stock worth $2,308,000 after acquiring an additional 87 shares during the period. SummerHaven Investment Management LLC lifted its holdings in shares of Nexstar Media Group by 2.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 4,217 shares of the company’s stock worth $700,000 after acquiring an additional 96 shares during the period. Retirement Systems of Alabama lifted its holdings in shares of Nexstar Media Group by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 40,479 shares of the company’s stock worth $6,974,000 after acquiring an additional 107 shares during the period. Finally, Signet Financial Management LLC lifted its holdings in shares of Nexstar Media Group by 4.3% during the 1st quarter. Signet Financial Management LLC now owns 2,716 shares of the company’s stock worth $468,000 after acquiring an additional 113 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

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.