Nexstar Media Group, Inc. (NASDAQ:NXST) Director Sells $1,707,000.00 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) Director Jay M. Grossman sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $170.70, for a total transaction of $1,707,000.00. Following the completion of the transaction, the director now owns 54,625 shares of the company’s stock, valued at $9,324,487.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Nexstar Media Group Trading Down 0.7 %

Shares of Nexstar Media Group stock traded down $1.10 during trading on Wednesday, reaching $167.92. The company’s stock had a trading volume of 236,383 shares, compared to its average volume of 329,551. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 2.92. Nexstar Media Group, Inc. has a 52-week low of $132.30 and a 52-week high of $187.27. The firm’s 50-day moving average is $170.08 and its two-hundred day moving average is $165.68. The company has a market cap of $5.53 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 0.18 and a beta of 1.50.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the company posted $2.64 EPS. On average, sell-side analysts anticipate that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend was Friday, August 9th. Nexstar Media Group’s payout ratio is 57.19%.

Analysts Set New Price Targets

Several brokerages have commented on NXST. Barrington Research reissued an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their price target on 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. Wells Fargo & Company lowered their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. StockNews.com cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Benchmark restated a “buy” rating and set a $225.00 price objective on shares of Nexstar Media Group in a research report on Friday, August 9th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $201.67.

Institutional Trading of Nexstar Media Group

Several institutional investors and hedge funds have recently bought and sold shares of NXST. Granite Group Advisors LLC lifted its holdings in shares of Nexstar Media Group by 5.1% during the first 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 during the last quarter. Quadrant Capital Group LLC raised its stake in Nexstar Media Group by 41.1% during the fourth quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock valued at $46,000 after buying an additional 86 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. boosted its holdings in Nexstar Media Group by 0.6% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,903 shares of the company’s stock worth $2,308,000 after acquiring an additional 87 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in shares of Nexstar Media Group by 2.3% in the second quarter. SummerHaven Investment Management LLC now owns 4,217 shares of the company’s stock worth $700,000 after acquiring an additional 96 shares during the last quarter. Finally, Retirement Systems of Alabama increased its holdings in shares of Nexstar Media Group by 0.3% during the first quarter. Retirement Systems of Alabama now owns 40,479 shares of the company’s stock valued at $6,974,000 after acquiring an additional 107 shares in the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

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.