Insider Selling: Nexstar Media Group, Inc. (NASDAQ:NXST) Insider Sells 7,261 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Gary Weitman sold 7,261 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $164.80, for a total value of $1,196,612.80. Following the transaction, the insider now directly owns 5,216 shares in the company, valued at approximately $859,596.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Nexstar Media Group Stock Down 0.6 %

Shares of NASDAQ NXST traded down $1.03 during mid-day trading on Monday, reaching $165.35. 222,200 shares of the company’s stock were exchanged, compared to its average volume of 331,840. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 0.19 and a beta of 1.49. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 2.92. The business has a fifty day simple moving average of $168.52 and a 200 day simple moving average of $165.88. Nexstar Media Group, Inc. has a twelve month low of $132.30 and a twelve month high of $187.27.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, August 8th. The company reported $3.54 EPS for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). The business had revenue of $1.27 billion for 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 company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.64 EPS. As a group, equities analysts expect that Nexstar Media Group, Inc. will post 25.72 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors 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 dividend on an annualized basis and a dividend yield of 4.09%. Nexstar Media Group’s payout ratio is presently 57.19%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Whittier Trust Co. acquired a new stake in shares of Nexstar Media Group in the second quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC lifted its position in shares of Nexstar Media Group by 3,700.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after buying an additional 259 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Nexstar Media Group by 112.2% in the second quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock valued at $49,000 after buying an additional 156 shares during the last quarter. Mascoma Wealth Management LLC acquired a new stake in shares of Nexstar Media Group in the second quarter valued at approximately $49,000. Finally, Quarry LP lifted its position in shares of Nexstar Media Group by 77.8% in the second quarter. Quarry LP now owns 297 shares of the company’s stock valued at $49,000 after buying an additional 130 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NXST shares. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Thursday. Wells Fargo & Company cut their price target on 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. Benchmark reaffirmed a “buy” rating and set a $225.00 price target on shares of Nexstar Media Group in a research note on Friday, August 9th. Barrington Research reissued an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on 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. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $201.67.

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.