Insider Selling: Nexstar Media Group, Inc. (NASDAQ:NXST) Director Sells 1,475 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) Director Charles Thomas Mcmillen sold 1,475 shares of Nexstar Media Group stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $166.08, for a total transaction of $244,968.00. Following the completion of the transaction, the director now directly owns 6,175 shares in the company, valued at $1,025,544. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Charles Thomas Mcmillen also recently made the following trade(s):

• On Wednesday, March 13th, Charles Thomas Mcmillen sold 1,475 shares of Nexstar Media Group stock. The stock was sold at an average price of $166.00, for a total transaction of $244,850.00.

Nexstar Media Group Price Performance

Shares of NXST traded down $3.46 during mid-day trading on Thursday, hitting $157.96. The company’s stock had a trading volume of 169,888 shares, compared to its average volume of 336,837. The firm has a market capitalization of $5.19 billion, a P/E ratio of 13.66, a P/E/G ratio of 0.59 and a beta of 1.50. Nexstar Media Group, Inc. has a 1-year low of $132.30 and a 1-year high of $187.32. The firm has a 50-day simple moving average of $166.23 and a 200 day simple moving average of $162.52. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 2.85.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Thursday, May 9th. The company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.28 by $0.88. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the firm posted $2.97 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Analysts predict that Nexstar Media Group, Inc. will post 27.62 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date is Thursday, May 9th. Nexstar Media Group’s payout ratio is currently 57.19%.

Analyst Ratings Changes

NXST has been the topic of a number of recent analyst reports. TheStreet upgraded Nexstar Media Group from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Loop Capital upgraded Nexstar Media Group to a “strong-buy” rating in a research report on Friday, May 10th. Wells Fargo & Company raised shares of Nexstar Media Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $190.00 to $221.00 in a report on Monday, May 13th. Benchmark reaffirmed a “buy” rating and set a $225.00 price objective on shares of Nexstar Media Group in a report on Friday, May 10th. Finally, Rosenblatt Securities cut their target price on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Nexstar Media Group presently has a consensus rating of “Moderate Buy” and an average price target of $206.00.

Institutional Trading of Nexstar Media Group

A number of hedge funds and other institutional investors have recently made changes to their positions in NXST. EverSource Wealth Advisors LLC boosted its holdings in shares of Nexstar Media Group by 632.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock valued at $32,000 after buying an additional 177 shares during the period. First United Bank & Trust acquired a new stake in shares of Nexstar Media Group in the fourth quarter valued at $33,000. SRS Capital Advisors Inc. grew its holdings in Nexstar Media Group by 350.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 239 shares of the company’s stock worth $37,000 after acquiring an additional 186 shares during the period. OLD Second National Bank of Aurora bought a new stake in Nexstar Media Group in the fourth quarter worth about $45,000. Finally, Quadrant Capital Group LLC raised its position 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 period. Institutional investors own 95.30% of the company’s stock.

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.