Nexstar Media Group, Inc. (NXST) To Go Ex-Dividend on August 14th

Nexstar Media Group, Inc. (NASDAQ:NXST) announced a quarterly dividend on Thursday, July 30th. Investors of record on Friday, August 14th will be given a dividend of 1.86 per share on Friday, August 28th. This represents a c) dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Friday, August 14th.

Nexstar Media Group has increased its dividend payment by an average of 0.3%annually over the last three years and has raised its dividend annually for the last 12 consecutive years. Nexstar Media Group has a dividend payout ratio of 28.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Nexstar Media Group to earn $19.77 per share next year, which means the company should continue to be able to cover its $7.44 annual dividend with an expected future payout ratio of 37.6%.

Nexstar Media Group Stock Performance

NXST traded down $0.65 on Wednesday, hitting $183.91. 33,218 shares of the stock traded hands, compared to its average volume of 390,842. The business has a fifty day moving average price of $179.52 and a two-hundred day moving average price of $200.43. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53. The firm has a market capitalization of $5.67 billion, a PE ratio of 35.24, a P/E/G ratio of 0.51 and a beta of 0.91. Nexstar Media Group has a 52 week low of $154.47 and a 52 week high of $254.30.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, August 6th. The company reported $3.61 EPS for the quarter, missing analysts’ consensus estimates of $5.98 by ($2.37). The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.97 billion. Nexstar Media Group had a return on equity of 24.26% and a net margin of 3.20%.Nexstar Media Group’s revenue was up 62.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.06 EPS. On average, research analysts predict that Nexstar Media Group will post 37.46 EPS for the current fiscal year.

Insider Buying and Selling at Nexstar Media Group

In related news, CEO Perry A. Sook acquired 12,235 shares of the stock in a transaction on Friday, June 26th. The stock was purchased at an average price of $162.26 per share, for a total transaction of $1,985,251.10. Following the transaction, the chief executive officer owned 899,044 shares of the company’s stock, valued at $145,878,879.44. The trade was a 1.38% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brett Jenkins sold 301 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $170.81, for a total transaction of $51,413.81. Following the completion of the transaction, the insider directly owned 28,798 shares of the company’s stock, valued at approximately $4,918,986.38. This represents a 1.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 22,813 shares of company stock worth $4,174,731 over the last 90 days. Company insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On Nexstar Media Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp acquired a new stake in Nexstar Media Group during the 2nd quarter worth $27,241,000. QVT Financial LP grew its holdings in shares of Nexstar Media Group by 200.0% in the 4th quarter. QVT Financial LP now owns 155,281 shares of the company’s stock valued at $31,530,000 after acquiring an additional 310,562 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Nexstar Media Group by 118.1% in the second quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock valued at $93,795,000 after acquiring an additional 294,308 shares during the last quarter. Norges Bank bought a new stake in Nexstar Media Group during the fourth quarter worth about $41,474,000. Finally, Alliancebernstein L.P. boosted its position in Nexstar Media Group by 27.1% during the second quarter. Alliancebernstein L.P. now owns 882,322 shares of the company’s stock valued at $152,598,000 after purchasing an additional 187,864 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

About Nexstar Media Group

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.