Nexstar Media Group Inc (NASDAQ:NXST)’s share price dropped 6.8% during mid-day trading on Monday . The company traded as low as $73.41 and last traded at $73.62. Approximately 893,013 shares traded hands during mid-day trading, an increase of 49% from the average daily volume of 599,317 shares. The stock had previously closed at $78.99.

NXST has been the subject of a number of recent research reports. Jefferies Financial Group restated a “buy” rating and issued a $87.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, July 24th. BidaskClub raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Thursday, November 15th. Stephens set a $94.00 target price on shares of Nexstar Media Group and gave the stock a “buy” rating in a report on Thursday, August 9th. ValuEngine raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Wednesday, August 22nd. Finally, B. Riley upped their target price on shares of Nexstar Media Group from $87.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, September 6th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $92.50.

The company has a debt-to-equity ratio of 2.34, a quick ratio of 2.09 and a current ratio of 2.09. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 0.94 and a beta of 1.76.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Thursday, November 8th. The company reported $2.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.97 by $0.15. Nexstar Media Group had a net margin of 23.45% and a return on equity of 19.12%. The business had revenue of $693.00 million for the quarter, compared to analyst estimates of $676.34 million. During the same quarter in the prior year, the firm earned $0.98 EPS. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. Equities analysts predict that Nexstar Media Group Inc will post 8.42 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 16th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Thursday, November 15th. Nexstar Media Group’s payout ratio is 37.69%.

In other Nexstar Media Group news, insider Andrew Alford sold 1,000 shares of the stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $82.30, for a total transaction of $82,300.00. Following the sale, the insider now owns 370 shares of the company’s stock, valued at approximately $30,451. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jay M. Grossman sold 3,125 shares of the stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $80.66, for a total transaction of $252,062.50. Following the sale, the director now directly owns 50,000 shares in the company, valued at approximately $4,033,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,925 shares of company stock worth $2,036,853. 6.40% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of the business. Sit Investment Associates Inc. grew its holdings in Nexstar Media Group by 1.7% during the 2nd quarter. Sit Investment Associates Inc. now owns 44,525 shares of the company’s stock worth $3,268,000 after acquiring an additional 725 shares during the last quarter. Balter Liquid Alternatives LLC grew its holdings in Nexstar Media Group by 1.5% during the 2nd quarter. Balter Liquid Alternatives LLC now owns 50,100 shares of the company’s stock worth $3,665,000 after acquiring an additional 735 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Nexstar Media Group by 7.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 11,726 shares of the company’s stock worth $954,000 after acquiring an additional 794 shares during the last quarter. Strs Ohio grew its holdings in Nexstar Media Group by 1.1% during the 2nd quarter. Strs Ohio now owns 71,400 shares of the company’s stock worth $5,240,000 after acquiring an additional 800 shares during the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in Nexstar Media Group by 64.8% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,423 shares of the company’s stock worth $178,000 after acquiring an additional 953 shares during the last quarter.

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Nexstar Media Group Company Profile (NASDAQ:NXST)

Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. It focuses on the acquisition, development, and operation of television stations and interactive community Websites in medium-sized markets. The company offers free over-the-air programming to television viewing audiences.

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