Nexstar Media Group, Inc. (NASDAQ:NXST) Insider Gary Weitman Sells 432 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Gary Weitman sold 432 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $167.43, for a total transaction of $72,329.76. Following the completion of the sale, the insider now owns 10,902 shares in the company, valued at approximately $1,825,321.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Nexstar Media Group Stock Down 2.3 %

Shares of NASDAQ:NXST opened at $157.63 on Friday. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.80 and a quick ratio of 1.80. The business has a 50 day simple moving average of $166.06 and a two-hundred day simple moving average of $162.48. Nexstar Media Group, Inc. has a 1 year low of $132.30 and a 1 year high of $187.32. The firm has a market capitalization of $5.17 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 0.58 and a beta of 1.50.

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

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend is Thursday, May 9th. Nexstar Media Group’s payout ratio is presently 57.19%.

Institutional Investors Weigh In On Nexstar Media Group

Several large investors have recently added to or reduced their stakes in NXST. Capital Research Global Investors purchased a new position in shares of Nexstar Media Group during the first quarter worth approximately $92,323,000. Channing Capital Management LLC grew its stake in Nexstar Media Group by 738.8% in the third quarter. Channing Capital Management LLC now owns 506,212 shares of the company’s stock worth $72,576,000 after purchasing an additional 445,859 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Nexstar Media Group by 392.6% during the 4th quarter. Point72 Asset Management L.P. now owns 450,351 shares of the company’s stock worth $70,593,000 after purchasing an additional 358,920 shares during the period. Norges Bank bought a new stake in Nexstar Media Group during the 4th quarter valued at $51,812,000. Finally, Boston Financial Mangement LLC lifted its holdings in shares of Nexstar Media Group by 156.5% in the 3rd quarter. Boston Financial Mangement LLC now owns 238,670 shares of the company’s stock worth $34,218,000 after buying an additional 145,617 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on NXST. Loop Capital raised shares of Nexstar Media Group to a “strong-buy” rating in a research note on Friday, May 10th. Benchmark reiterated a “buy” rating and issued a $225.00 price target on shares of Nexstar Media Group in a research report on Friday, May 10th. TheStreet upgraded Nexstar Media Group from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Rosenblatt Securities dropped their target price on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Finally, Barrington Research reissued an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, May 9th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $206.00.

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.