Nexstar Media Group, Inc. (NASDAQ:NXST) Insider Sells $1,196,612.80 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Gary Weitman sold 7,261 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $164.80, for a total value of $1,196,612.80. Following the completion of the transaction, the insider now directly owns 5,216 shares of the company’s stock, valued at $859,596.80. The sale was disclosed in a filing with the SEC, which is available through this link.

Nexstar Media Group Stock Down 0.6 %

Nexstar Media Group stock opened at $165.35 on Tuesday. Nexstar Media Group, Inc. has a twelve month low of $132.30 and a twelve month high of $187.27. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78. The firm has a market cap of $5.45 billion, a PE ratio of 13.99, a P/E/G ratio of 0.19 and a beta of 1.49. The firm’s 50 day moving average price is $168.28 and its two-hundred day moving average price is $165.87.

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 analysts’ consensus estimates 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 company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the company posted $2.64 earnings per share. The company’s revenue was up 2.3% compared to the same quarter last year. On average, research analysts predict that Nexstar Media Group, Inc. will post 25.72 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a $1.69 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.76 annualized dividend and a dividend yield of 4.09%. Nexstar Media Group’s payout ratio is 57.19%.

Analysts Set New Price Targets

NXST has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Thursday, September 26th. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, August 8th. Wells Fargo & Company dropped their price objective on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Finally, Benchmark reaffirmed a “buy” rating and set a $225.00 target price on shares of Nexstar Media Group in a research note on Friday, August 9th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Nexstar Media Group has a consensus rating of “Buy” and an average target price of $201.67.

Hedge Funds Weigh In On Nexstar Media Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Personal CFO Solutions LLC increased its stake in shares of Nexstar Media Group by 7.1% during the 4th quarter. Personal CFO Solutions LLC now owns 3,066 shares of the company’s stock worth $481,000 after purchasing an additional 202 shares during the last quarter. Chicago Partners Investment Group LLC bought a new stake in Nexstar Media Group in the fourth quarter worth $232,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Nexstar Media Group during the first quarter worth $2,111,000. Vanguard Group Inc. raised its holdings in Nexstar Media Group by 3.9% during the first quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock valued at $580,689,000 after buying an additional 127,783 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Nexstar Media Group by 116.3% in the first quarter. BNP Paribas Financial Markets now owns 30,384 shares of the company’s stock worth $5,235,000 after buying an additional 16,338 shares during the last quarter. 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.