Nexstar Media Group, Inc. (NASDAQ:NXST) Insider Sells $739,041.84 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Brett Jenkins sold 4,331 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $170.64, for a total value of $739,041.84. Following the sale, the insider now directly owns 25,540 shares of the company’s stock, valued at $4,358,145.60. The trade was a 14.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Nexstar Media Group Stock Performance

Shares of NXST stock opened at $170.61 on Tuesday. The firm’s 50 day moving average is $168.98 and its 200 day moving average is $167.16. The stock has a market capitalization of $5.29 billion, a P/E ratio of 9.87, a PEG ratio of 0.20 and a beta of 1.48. Nexstar Media Group, Inc. has a 12 month low of $141.38 and a 12 month high of $191.86. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results 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). The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company’s revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 EPS. On average, sell-side analysts anticipate that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group’s payout ratio is presently 39.10%.

Institutional Investors Weigh In On Nexstar Media Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. grew its stake in Nexstar Media Group by 8.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 2,378 shares of the company’s stock valued at $410,000 after acquiring an additional 188 shares in the last quarter. Redwood Investment Management LLC lifted its stake in Nexstar Media Group by 5.5% in the 1st quarter. Redwood Investment Management LLC now owns 31,490 shares of the company’s stock worth $5,425,000 after purchasing an additional 1,644 shares in the last quarter. EMC Capital Management boosted its holdings in Nexstar Media Group by 35.8% in the 1st quarter. EMC Capital Management now owns 3,116 shares of the company’s stock valued at $537,000 after purchasing an additional 821 shares during the period. Granite Group Advisors LLC grew its position 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 valued at $257,000 after purchasing an additional 72 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings 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 worth $49,000 after purchasing an additional 156 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Loop Capital lowered Nexstar Media Group from a “buy” rating to a “hold” rating and decreased their target price for the company from $200.00 to $190.00 in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a report on Friday, August 9th. Guggenheim dropped their target price on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Benchmark reissued a “buy” rating and set a $215.00 target price on shares of Nexstar Media Group in a research report on Friday, November 8th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.50.

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.