Insider Selling: Nexstar Media Group, Inc. (NASDAQ:NXST) Director Sells 1,000 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) Director Charles Thomas Mcmillen sold 1,000 shares of Nexstar Media Group stock in a transaction that occurred on Monday, June 28th. The stock was sold at an average price of $151.73, for a total transaction of $151,730.00. Following the completion of the transaction, the director now owns 5,535 shares in the company, valued at approximately $839,825.55. This trade represents a 15.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Wednesday, March 5th, Charles Thomas Mcmillen sold 2,000 shares of Nexstar Media Group stock. The stock was sold at an average price of $169.51, for a total value of $339,020.00.

Nexstar Media Group Stock Down 1.7 %

NXST stock traded down $3.04 during mid-day trading on Friday, hitting $176.45. The stock had a trading volume of 410,199 shares, compared to its average volume of 350,917. Nexstar Media Group, Inc. has a 1-year low of $146.04 and a 1-year high of $191.86. The company has a fifty day moving average of $161.89 and a 200 day moving average of $164.49. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of 10.21, a PEG ratio of 0.45 and a beta of 1.47.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data on Thursday, February 27th. The company reported $7.56 EPS for the quarter, missing analysts’ consensus estimates of $9.22 by ($1.66). The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. On average, equities analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a dividend of $1.86 per share. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.69. This represents a $7.44 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend was Wednesday, February 12th. Nexstar Media Group’s dividend payout ratio (DPR) is 34.56%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Brooklyn Investment Group acquired a new stake in shares of Nexstar Media Group in the third quarter worth $25,000. SBI Securities Co. Ltd. bought a new stake in shares of Nexstar Media Group in the fourth quarter valued at about $25,000. True Wealth Design LLC bought a new position in Nexstar Media Group during the third quarter valued at about $30,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Nexstar Media Group during the third quarter valued at approximately $33,000. Finally, Jones Financial Companies Lllp raised its stake in shares of Nexstar Media Group by 15.3% in the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock valued at $87,000 after buying an additional 73 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

NXST has been the topic of several recent analyst reports. Benchmark boosted their target price on shares of Nexstar Media Group from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Rosenblatt Securities reissued a “buy” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Monday, March 10th. Guggenheim raised their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. StockNews.com downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Barrington Research reissued an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $208.43.

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.