Insider Selling: Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Sells $472,717.44 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Blake Russell sold 2,782 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $169.92, for a total value of $472,717.44. Following the completion of the sale, the executive vice president now owns 22,329 shares in the company, valued at $3,794,143.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Nexstar Media Group Trading Down 0.8 %

NXST opened at $166.40 on Monday. The stock has a market cap of $5.48 billion, a price-to-earnings ratio of 14.08, a P/E/G ratio of 0.18 and a beta of 1.49. The stock’s 50 day moving average price is $169.72 and its 200-day moving average price is $165.87. Nexstar Media Group, Inc. has a one year low of $132.30 and a one year 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.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, August 8th. The company reported $3.54 EPS for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.28 billion. Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.64 EPS. On average, equities analysts forecast that Nexstar Media Group, Inc. will post 25.72 EPS 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 dividend of $1.69 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.06%. Nexstar Media Group’s dividend payout ratio is 57.19%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Granite Group Advisors LLC grew its stake in shares of Nexstar Media Group by 5.1% during the first quarter. Granite Group Advisors LLC now owns 1,489 shares of the company’s stock valued at $257,000 after buying an additional 72 shares during the last quarter. Quadrant Capital Group LLC grew its stake in Nexstar Media Group by 41.1% in the fourth 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. Klein Pavlis & Peasley Financial Inc. grew its stake in Nexstar Media Group by 0.6% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,903 shares of the company’s stock worth $2,308,000 after purchasing an additional 87 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in Nexstar Media Group by 2.3% in the second quarter. SummerHaven Investment Management LLC now owns 4,217 shares of the company’s stock worth $700,000 after purchasing an additional 96 shares in the last quarter. Finally, Retirement Systems of Alabama grew its stake in Nexstar Media Group by 0.3% in the first quarter. Retirement Systems of Alabama now owns 40,479 shares of the company’s stock worth $6,974,000 after purchasing an additional 107 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

NXST has been the topic of a number of research analyst reports. StockNews.com downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Benchmark reiterated a “buy” rating and issued a $225.00 target price on shares of Nexstar Media Group in a research report on Friday, August 9th. Wells Fargo & Company reduced 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. Barrington Research reissued an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on 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. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $201.67.

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.