Insider Selling: Nexstar Media Group, Inc. (NASDAQ:NXST) Insider Sells 7,261 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Gary Weitman sold 7,261 shares of the firm’s stock in a transaction dated 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 owns 5,216 shares of the company’s stock, valued at approximately $859,596.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Nexstar Media Group Stock Performance

NASDAQ NXST opened at $164.82 on Wednesday. Nexstar Media Group, Inc. has a 52-week low of $132.30 and a 52-week high of $187.27. The company has a fifty day moving average of $168.28 and a 200-day moving average of $165.87. The company has a market capitalization of $5.43 billion, a P/E ratio of 13.94, a P/E/G ratio of 0.19 and a beta of 1.49. 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 issued its quarterly earnings results on Thursday, August 8th. The company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.48 by ($0.94). The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.28 billion. Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm earned $2.64 EPS. As a group, equities 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 announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $1.69 dividend. This represents a $6.76 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend was Friday, August 9th. Nexstar Media Group’s dividend payout ratio is currently 57.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NXST shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of 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. Benchmark reissued a “buy” rating and issued a $225.00 price target on shares of Nexstar Media Group in a report on Friday, August 9th. Wells Fargo & Company reduced their price target on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Thursday, September 26th. Finally, 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. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Nexstar Media Group presently has an average rating of “Buy” and an average target price of $201.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NXST. Davis Capital Management lifted its holdings in shares of Nexstar Media Group by 6.4% in the 3rd quarter. Davis Capital Management now owns 6,148 shares of the company’s stock worth $1,017,000 after acquiring an additional 372 shares during the last quarter. Delphi Management Inc. MA raised its position in Nexstar Media Group by 2.9% in the 2nd quarter. Delphi Management Inc. MA now owns 10,227 shares of the company’s stock worth $1,698,000 after purchasing an additional 286 shares during the period. Founders Financial Alliance LLC lifted its stake in Nexstar Media Group by 21.5% in the second quarter. Founders Financial Alliance LLC now owns 2,950 shares of the company’s stock worth $490,000 after purchasing an additional 522 shares during the last quarter. Truist Financial Corp boosted its position in Nexstar Media Group by 5.2% during the second quarter. Truist Financial Corp now owns 9,733 shares of the company’s stock valued at $1,616,000 after buying an additional 482 shares during the period. Finally, Quarry LP grew its stake in shares of Nexstar Media Group by 77.8% during the second quarter. Quarry LP now owns 297 shares of the company’s stock valued at $49,000 after buying an additional 130 shares during the last quarter. 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.