Brett Jenkins Sells 4,331 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Brett Jenkins sold 4,331 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $170.64, for a total transaction of $739,041.84. Following the completion of the transaction, the insider now owns 25,540 shares in the company, valued at $4,358,145.60. This represents a 14.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Nexstar Media Group Trading Down 0.2 %

NXST stock opened at $170.29 on Wednesday. The firm has a market cap of $5.28 billion, a P/E ratio of 9.85, a PEG ratio of 0.20 and a beta of 1.48. The company’s 50-day simple moving average is $169.07 and its 200-day simple moving average is $167.11. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a 52-week low of $141.38 and a 52-week high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.51 by ($0.24). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the business earned $0.70 earnings per share. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, equities analysts forecast that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $1.69 dividend. This represents a $6.76 annualized dividend and a yield of 3.97%. The ex-dividend date is Friday, November 15th. Nexstar Media Group’s dividend payout ratio is currently 39.10%.

Analyst Upgrades and Downgrades

NXST has been the topic of several research reports. Barrington Research restated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research report on Friday, August 9th. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Guggenheim cut their target price on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Finally, Loop Capital downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating and cut their price target for the stock from $200.00 to $190.00 in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $198.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its position in shares of Nexstar Media Group by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company’s stock valued at $179,149,000 after buying an additional 7,117 shares during the last quarter. Quest Partners LLC grew its stake in Nexstar Media Group by 661.4% during the 3rd quarter. Quest Partners LLC now owns 8,672 shares of the company’s stock valued at $1,434,000 after acquiring an additional 7,533 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Nexstar Media Group by 5.8% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 111,905 shares of the company’s stock valued at $18,504,000 after acquiring an additional 6,101 shares during the last quarter. GSA Capital Partners LLP lifted its stake in Nexstar Media Group by 211.2% in the 3rd quarter. GSA Capital Partners LLP now owns 6,195 shares of the company’s stock worth $1,024,000 after purchasing an additional 4,204 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. acquired a new position in shares of Nexstar Media Group during the 2nd quarter worth approximately $570,000. 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.