Nexstar Media Group, Inc. (NASDAQ:NXST) Director Sells $332,760.00 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) Director D Geoffrey Armstrong sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $166.38, for a total value of $332,760.00. Following the transaction, the director now directly owns 7,250 shares in the company, valued at $1,206,255. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST opened at $167.66 on Friday. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 2.92. The stock has a fifty day simple moving average of $170.02 and a two-hundred day simple moving average of $165.69. Nexstar Media Group, Inc. has a 1-year low of $132.30 and a 1-year high of $187.27. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 0.18 and a beta of 1.50.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $4.48 by ($0.94). Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the company posted $2.64 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. Analysts anticipate that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a $1.69 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.76 annualized dividend and a dividend yield of 4.03%. Nexstar Media Group’s payout ratio is 57.19%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Benchmark reissued a “buy” rating and set a $225.00 price target on shares of Nexstar Media Group in a research report on Friday, August 9th. Barrington Research restated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, August 8th. Finally, StockNews.com lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $201.67.

Institutional Trading of Nexstar Media Group

Institutional investors have recently modified their holdings of the business. Whittier Trust Co. bought a new stake in Nexstar Media Group during the 2nd quarter valued at $27,000. EverSource Wealth Advisors LLC raised its stake in shares of Nexstar Media Group by 632.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock valued at $32,000 after purchasing an additional 177 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Nexstar Media Group by 3,700.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after purchasing an additional 259 shares during the period. Quadrant Capital Group LLC lifted its holdings in Nexstar Media Group by 41.1% during the 4th quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock worth $46,000 after purchasing an additional 86 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Nexstar Media Group by 112.2% in the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock worth $49,000 after purchasing an additional 156 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

About Nexstar Media Group

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.