Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Sells $249,448.83 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Lee Ann Gliha sold 1,437 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $173.59, for a total transaction of $249,448.83. Following the sale, the executive vice president now directly owns 10,923 shares of the company’s stock, valued at approximately $1,896,123.57. This represents a 11.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Nexstar Media Group Stock Down 1.7%

Nexstar Media Group stock traded down $3.01 during mid-day trading on Wednesday, reaching $172.21. 265,268 shares of the company’s stock were exchanged, compared to its average volume of 390,821. The company has a market cap of $5.25 billion, a P/E ratio of 9.96, a P/E/G ratio of 0.45 and a beta of 1.06. Nexstar Media Group, Inc. has a twelve month low of $141.66 and a twelve month high of $191.86. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The company has a fifty day moving average of $162.55 and a 200-day moving average of $161.94.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, May 8th. The company reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.11. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the business earned $5.16 EPS. The company’s revenue was down 3.9% on a year-over-year basis. Sell-side analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be paid a dividend of $1.86 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $7.44 annualized dividend and a yield of 4.32%. Nexstar Media Group’s dividend payout ratio is currently 37.69%.

Institutional Investors Weigh In On Nexstar Media Group

Several hedge funds and other institutional investors have recently bought and sold shares of NXST. SBI Securities Co. Ltd. acquired a new stake in Nexstar Media Group during the 4th quarter worth $25,000. Whipplewood Advisors LLC raised its stake in Nexstar Media Group by 830.3% during the 1st quarter. Whipplewood Advisors LLC now owns 307 shares of the company’s stock worth $55,000 after acquiring an additional 274 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in Nexstar Media Group by 2,293.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 383 shares of the company’s stock worth $69,000 after acquiring an additional 367 shares in the last quarter. First Horizon Advisors Inc. raised its stake in Nexstar Media Group by 62.3% during the 1st quarter. First Horizon Advisors Inc. now owns 401 shares of the company’s stock worth $72,000 after acquiring an additional 154 shares in the last quarter. Finally, Versant Capital Management Inc grew its position in Nexstar Media Group by 2,126.3% during the 1st quarter. Versant Capital Management Inc now owns 423 shares of the company’s stock worth $76,000 after purchasing an additional 404 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on NXST. Benchmark dropped their price objective on shares of Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. Wall Street Zen cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Monday, March 10th. Wells Fargo & Company lowered their price objective on shares of Nexstar Media Group from $216.00 to $200.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Finally, Guggenheim increased their price objective on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.71.

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.