Nexstar Media Group (NASDAQ:NXST) Insider Sells $467,742.87 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Andrew Alford sold 2,823 shares of the business’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $165.69, for a total transaction of $467,742.87. Following the sale, the insider owned 11,726 shares of the company’s stock, valued at $1,942,880.94. This represents a 19.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Nexstar Media Group Trading Up 0.4%

Shares of Nexstar Media Group stock opened at $162.10 on Friday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 5.09. The company has a fifty day simple moving average of $180.26 and a 200-day simple moving average of $188.27. The stock has a market cap of $4.99 billion, a price-to-earnings ratio of 31.11 and a beta of 0.90. Nexstar Media Group, Inc. has a 12-month low of $154.47 and a 12-month high of $254.30.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, August 6th. The company reported $3.61 EPS for the quarter, missing the consensus estimate of $5.98 by ($2.37). Nexstar Media Group had a return on equity of 24.02% and a net margin of 3.20%.The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the prior year, the business earned $3.06 earnings per share. Nexstar Media Group’s revenue was up 62.2% compared to the same quarter last year. On average, equities analysts forecast that Nexstar Media Group, Inc. will post 32.88 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a dividend of $1.86 per share. The ex-dividend date was Friday, August 14th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.6%. Nexstar Media Group’s payout ratio is 142.80%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its position in Nexstar Media Group by 17.0% during the 1st quarter. Bank of America Corp DE now owns 173,269 shares of the company’s stock worth $31,332,000 after purchasing an additional 25,193 shares during the period. Sentinel Dome Partners LLC purchased a new position in shares of Nexstar Media Group during the 4th quarter worth approximately $2,315,000. CPC Advisors LLC raised its stake in shares of Nexstar Media Group by 114.3% during the 1st quarter. CPC Advisors LLC now owns 26,651 shares of the company’s stock worth $4,819,000 after buying an additional 14,217 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Nexstar Media Group by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 773,443 shares of the company’s stock valued at $157,114,000 after buying an additional 13,084 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Nexstar Media Group in the 1st quarter valued at approximately $1,501,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NXST has been the subject of several research reports. Zacks Research downgraded Nexstar Media Group from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Deutsche Bank Aktiengesellschaft dropped their price target on Nexstar Media Group from $255.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexstar Media Group in a research report on Monday, August 24th. Wells Fargo & Company reduced their price objective on Nexstar Media Group from $253.00 to $249.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Finally, Wall Street Zen downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $256.50.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc is a diversified American media company that owns and operates local television stations and digital media platforms across the United States. Its stations provide locally produced news, weather, sports and community programming, while also carrying programming from major broadcast networks, including ABC, CBS, NBC, FOX and The CW, depending on the market.

The company also operates NewsNation, a national cable news and information network, and develops digital content and advertising solutions through its online properties.