Nexstar Media Group, Inc. (NASDAQ:NXST) Director Charles Thomas Mcmillen Sells 750 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) Director Charles Thomas Mcmillen sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $159.93, for a total transaction of $119,947.50. Following the completion of the transaction, the director now directly owns 6,975 shares of the company’s stock, valued at approximately $1,115,511.75. This trade represents a 9.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Nexstar Media Group Price Performance

NXST stock opened at $159.14 on Friday. The firm has a 50 day simple moving average of $168.68 and a two-hundred day simple moving average of $167.33. The stock has a market cap of $4.94 billion, a PE ratio of 9.20, a P/E/G ratio of 0.20 and a beta of 1.45. Nexstar Media Group, Inc. has a one year low of $147.25 and a one year high of $191.86. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.51 by ($0.24). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter last year, the firm posted $0.70 earnings per share. The firm’s revenue was up 20.7% on a year-over-year basis. On average, analysts predict that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a $1.69 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a yield of 4.25%. Nexstar Media Group’s payout ratio is 39.10%.

Institutional Trading of Nexstar Media Group

Several hedge funds and other institutional investors have recently bought and sold shares of NXST. Brooklyn Investment Group bought a new stake in shares of Nexstar Media Group in the 3rd quarter worth approximately $25,000. Whittier Trust Co. bought a new stake in Nexstar Media Group in the second quarter worth $27,000. True Wealth Design LLC purchased a new stake in Nexstar Media Group during the third quarter valued at about $30,000. Wilmington Savings Fund Society FSB bought a new position in shares of Nexstar Media Group during the third quarter valued at about $33,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Nexstar Media Group by 3,700.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock worth $44,000 after buying an additional 259 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NXST. Guggenheim cut their price target on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a report on Friday, October 4th. Benchmark restated a “buy” rating and issued a $215.00 target price on shares of Nexstar Media Group in a research note on Friday, November 8th. StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, November 7th. Finally, Loop Capital cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating and lowered their target price for the stock from $200.00 to $190.00 in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $204.29.

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.