Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Sells $72,497.19 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXSTGet Free Report) EVP Blake Russell sold 433 shares of Nexstar Media Group stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $167.43, for a total transaction of $72,497.19. Following the sale, the executive vice president now directly owns 25,537 shares in the company, valued at $4,275,659.91. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Nexstar Media Group Stock Down 3.0 %

Shares of Nexstar Media Group stock traded down $5.03 on Tuesday, hitting $162.18. The company had a trading volume of 445,649 shares, compared to its average volume of 338,638. Nexstar Media Group, Inc. has a 1 year low of $132.30 and a 1 year high of $187.32. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.80 and a current ratio of 1.80. The stock has a 50 day moving average of $166.46 and a 200-day moving average of $162.49. The stock has a market capitalization of $5.32 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 0.61 and a beta of 1.50.

Nexstar Media Group (NASDAQ:NXSTGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.28 by $0.88. Nexstar Media Group had a return on equity of 17.18% and a net margin of 8.29%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the company posted $2.97 earnings per share. Nexstar Media Group’s revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Nexstar Media Group, Inc. will post 27.82 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be given a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend is Thursday, May 9th. Nexstar Media Group’s payout ratio is currently 57.19%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Loop Capital raised shares of Nexstar Media Group to a “strong-buy” rating in a research note on Friday, May 10th. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, May 9th. TheStreet upgraded Nexstar Media Group from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Benchmark reissued a “buy” rating and issued a $225.00 price target on shares of Nexstar Media Group in a research note on Friday, May 10th. Finally, Rosenblatt Securities reduced their price objective on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.00.

Read Our Latest Report on NXST

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NXST. Bahl & Gaynor Inc. increased its position in shares of Nexstar Media Group by 7.8% during the 3rd quarter. Bahl & Gaynor Inc. now owns 118,724 shares of the company’s stock valued at $17,021,000 after purchasing an additional 8,543 shares during the last quarter. NBC Securities Inc. purchased a new stake in Nexstar Media Group during the third quarter worth about $189,000. Victory Capital Management Inc. raised its position in Nexstar Media Group by 6.2% in the third quarter. Victory Capital Management Inc. now owns 11,772 shares of the company’s stock worth $1,688,000 after acquiring an additional 688 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Nexstar Media Group by 5.0% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,608 shares of the company’s stock valued at $374,000 after acquiring an additional 124 shares during the last quarter. Finally, Zions Bancorporation N.A. increased its stake in shares of Nexstar Media Group by 8.4% during the 3rd quarter. Zions Bancorporation N.A. now owns 9,500 shares of the company’s stock worth $1,362,000 after purchasing an additional 733 shares during the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Nexstar Media Group Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Nexstar Media Group (NASDAQ:NXST)

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