Insider Selling: Nexstar Media Group, Inc. (NASDAQ:NXST) Director Sells 250 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) Director Charles Thomas Mcmillen sold 250 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $164.44, for a total value of $41,110.00. Following the completion of the sale, the director now directly owns 7,725 shares of the company’s stock, valued at approximately $1,270,299. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Charles Thomas Mcmillen also recently made the following trade(s):

• On Tuesday, September 10th, Charles Thomas Mcmillen sold 1,000 shares of Nexstar Media Group stock. The stock was sold at an average price of $160.00, for a total transaction of $160,000.00.

Nexstar Media Group Stock Performance

NASDAQ:NXST opened at $166.38 on Friday. The stock has a 50 day simple moving average of $168.52 and a 200 day simple moving average of $165.90. The stock has a market cap of $5.48 billion, a P/E ratio of 14.08, a PEG ratio of 0.19 and a beta of 1.49. Nexstar Media Group, Inc. has a 1-year low of $132.30 and a 1-year high of $187.27. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 2.92.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, August 8th. The company reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the firm posted $2.64 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. Research 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 issued a dividend of $1.69 per share. The ex-dividend date was Friday, August 9th. This represents a $6.76 annualized dividend and a dividend yield of 4.06%. Nexstar Media Group’s dividend payout ratio is presently 57.19%.

Analyst Ratings Changes

A number of brokerages have recently commented on NXST. Barrington Research reissued an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, August 8th. Benchmark reiterated a “buy” rating and set a $225.00 price target on shares of Nexstar Media Group in a report on Friday, August 9th. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft cut their price objective on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Wells Fargo & Company decreased their target price on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $201.67.

Institutional Investors Weigh In On Nexstar Media Group

Institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in Nexstar Media Group in the 4th quarter valued at $51,812,000. Corient Private Wealth LLC raised its stake in Nexstar Media Group by 0.9% in the fourth quarter. Corient Private Wealth LLC now owns 16,533 shares of the company’s stock valued at $2,591,000 after purchasing an additional 143 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Nexstar Media Group by 632.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock worth $32,000 after purchasing an additional 177 shares during the period. Stifel Financial Corp grew its stake in Nexstar Media Group by 40.7% during the fourth quarter. Stifel Financial Corp now owns 35,809 shares of the company’s stock worth $5,613,000 after buying an additional 10,350 shares in the last quarter. Finally, TFO Wealth Partners LLC increased its holdings in Nexstar Media Group by 21,766.7% in the 4th quarter. TFO Wealth Partners LLC now owns 656 shares of the company’s stock valued at $103,000 after buying an additional 653 shares during the period. 95.30% of the stock is currently owned by 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.