Andrew Alford Sells 3,768 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Andrew Alford sold 3,768 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total value of $685,700.64. Following the completion of the transaction, the insider now directly owns 5,405 shares in the company, valued at $983,601.90. This trade represents a 41.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Nexstar Media Group Trading Down 1.7 %

NASDAQ NXST opened at $176.45 on Friday. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. Nexstar Media Group, Inc. has a one year low of $146.04 and a one year high of $191.86. The company has a 50-day simple moving average of $162.36 and a 200-day simple moving average of $164.59. The firm has a market capitalization of $5.38 billion, a PE ratio of 10.21, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47.

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

Nexstar Media Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date of this dividend was Wednesday, February 12th. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s payout ratio is 34.56%.

Wall Street Analysts Forecast Growth

NXST has been the topic of several analyst reports. 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. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Wednesday, March 5th. Benchmark lifted their price target on shares of Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Loop Capital raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $190.00 to $200.00 in a research report on Friday, February 28th. Finally, Guggenheim lifted their target price 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. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $208.43.

Hedge Funds Weigh In On Nexstar Media Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. grew its stake in shares of Nexstar Media Group by 27,180.2% in the fourth quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company’s stock worth $190,650,000 after purchasing an additional 1,202,453 shares in the last quarter. Demars Financial Group LLC raised its position in shares of Nexstar Media Group by 16,009.5% during the 4th quarter. Demars Financial Group LLC now owns 773,737 shares of the company’s stock worth $122,227,000 after buying an additional 768,934 shares in the last quarter. Norges Bank acquired a new stake in shares of Nexstar Media Group in the 4th quarter worth approximately $44,460,000. Proficio Capital Partners LLC bought a new stake in Nexstar Media Group during the fourth quarter worth approximately $35,560,000. Finally, Invesco Ltd. lifted its position in Nexstar Media Group by 185.0% in the fourth quarter. Invesco Ltd. now owns 219,561 shares of the company’s stock worth $34,684,000 after purchasing an additional 142,520 shares during the period. 95.30% of the stock is owned by institutional investors.

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.