Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Blake Russell Sells 2,782 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Blake Russell sold 2,782 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $169.92, for a total transaction of $472,717.44. Following the transaction, the executive vice president now owns 22,329 shares in the company, valued at approximately $3,794,143.68. The sale was disclosed in a filing with the SEC, which is available at this link.

Nexstar Media Group Price Performance

NXST traded down $0.01 during midday trading on Friday, hitting $167.65. 75,407 shares of the company traded hands, compared to its average volume of 329,325. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 2.92. The company has a market capitalization of $5.52 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 0.18 and a beta of 1.50. Nexstar Media Group, Inc. has a 52-week low of $132.30 and a 52-week high of $187.27. The business has a 50 day simple moving average of $169.87 and a two-hundred day simple moving average of $165.71.

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

Nexstar Media Group Dividend Announcement

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

Analysts Set New Price Targets

NXST has been the topic of a number of research reports. StockNews.com lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Barrington Research reiterated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, August 8th. Wells Fargo & Company cut their price objective 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. Benchmark reiterated a “buy” rating and issued a $225.00 price objective on shares of Nexstar Media Group in a research note on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $201.67.

Institutional Investors Weigh In On Nexstar Media Group

A number of hedge funds have recently modified their holdings of the business. Delphi Management Inc. MA increased its position in Nexstar Media Group by 2.9% during the second quarter. Delphi Management Inc. MA now owns 10,227 shares of the company’s stock worth $1,698,000 after purchasing an additional 286 shares during the last quarter. Founders Financial Alliance LLC increased its position in shares of Nexstar Media Group by 21.5% during the second quarter. Founders Financial Alliance LLC now owns 2,950 shares of the company’s stock valued at $490,000 after acquiring an additional 522 shares during the last quarter. Truist Financial Corp raised its stake in shares of Nexstar Media Group by 5.2% in the 2nd quarter. Truist Financial Corp now owns 9,733 shares of the company’s stock valued at $1,616,000 after acquiring an additional 482 shares during the period. Quarry LP raised its stake in shares of Nexstar Media Group by 77.8% in the 2nd quarter. Quarry LP now owns 297 shares of the company’s stock valued at $49,000 after acquiring an additional 130 shares during the period. Finally, Sunbelt Securities Inc. raised its stake in shares of Nexstar Media Group by 38.7% in the 2nd quarter. Sunbelt Securities Inc. now owns 785 shares of the company’s stock valued at $130,000 after acquiring an additional 219 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

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.