D Geoffrey Armstrong Sells 2,000 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) Director D Geoffrey Armstrong sold 2,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $166.38, for a total transaction of $332,760.00. Following the transaction, the director now owns 7,250 shares of the company’s stock, valued at $1,206,255. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Nexstar Media Group Stock Performance

Shares of NASDAQ:NXST opened at $167.92 on Thursday. The company has a market cap of $5.53 billion, a price-to-earnings ratio of 14.21, a price-to-earnings-growth ratio of 0.18 and a beta of 1.50. The company has a 50-day moving average price of $170.08 and a 200-day moving average price of $165.68. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 2.92. Nexstar Media Group, Inc. has a 12 month low of $132.30 and a 12 month high of $187.27.

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

Nexstar Media Group Dividend Announcement

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Nexstar Media Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Granite Group Advisors LLC grew its holdings in Nexstar Media Group by 5.1% in the first quarter. Granite Group Advisors LLC now owns 1,489 shares of the company’s stock worth $257,000 after purchasing an additional 72 shares during the period. Quadrant Capital Group LLC grew its holdings in Nexstar Media Group by 41.1% in the fourth quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock worth $46,000 after purchasing an additional 86 shares during the period. Klein Pavlis & Peasley Financial Inc. grew 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 purchasing an additional 87 shares during the period. SummerHaven Investment Management LLC grew its holdings in 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 purchasing an additional 96 shares during the period. Finally, Retirement Systems of Alabama grew its holdings in Nexstar Media Group by 0.3% in the first quarter. Retirement Systems of Alabama now owns 40,479 shares of the company’s stock worth $6,974,000 after purchasing an additional 107 shares during the period. 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.