Andrew Alford Sells 779 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Andrew Alford sold 779 shares of Nexstar Media Group stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $173.59, for a total transaction of $135,226.61. Following the completion of the transaction, the insider now directly owns 8,288 shares in the company, valued at $1,438,713.92. This represents a 8.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Andrew Alford also recently made the following trade(s):

• On Tuesday, May 20th, Andrew Alford sold 838 shares of Nexstar Media Group stock. The stock was sold at an average price of $175.53, for a total transaction of $147,094.14.
• On Wednesday, March 26th, Andrew Alford sold 3,768 shares of Nexstar Media Group stock. The stock was sold at an average price of $181.98, for a total transaction of $685,700.64.

Nexstar Media Group Trading Down 1.0%

NASDAQ NXST opened at $170.56 on Friday. The company has a market capitalization of $5.20 billion, a PE ratio of 9.86, a P/E/G ratio of 0.45 and a beta of 1.06. The company has a fifty day moving average of $162.32 and a 200 day moving average of $162.01. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 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 posted its earnings results on Thursday, May 8th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.11. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the firm posted $5.16 earnings per share. Research analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a dividend of $1.86 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $7.44 dividend on an annualized basis and a yield of 4.36%. Nexstar Media Group’s dividend payout ratio is presently 37.69%.

Analyst Ratings Changes

NXST has been the topic of several analyst reports. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a report on Tuesday, May 13th. Rosenblatt Securities reissued a “buy” rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Monday, March 10th. Loop Capital raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $190.00 to $200.00 in a report on Friday, February 28th. Guggenheim boosted their price objective on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a report on Friday, February 28th. Finally, Wells Fargo & Company dropped their price objective on shares of Nexstar Media Group from $216.00 to $200.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $205.71.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new position in Nexstar Media Group during the fourth quarter valued at $25,000. Whipplewood Advisors LLC lifted its position in Nexstar Media Group by 830.3% during the first quarter. Whipplewood Advisors LLC now owns 307 shares of the company’s stock valued at $55,000 after purchasing an additional 274 shares during the period. Caitong International Asset Management Co. Ltd raised its position in shares of Nexstar Media Group by 2,293.8% in the first 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 during the period. First Horizon Advisors Inc. raised its position in shares of Nexstar Media Group by 62.3% in the first quarter. First Horizon Advisors Inc. now owns 401 shares of the company’s stock worth $72,000 after acquiring an additional 154 shares during the period. Finally, Versant Capital Management Inc raised its position in shares of Nexstar Media Group by 2,126.3% in the first quarter. Versant Capital Management Inc now owns 423 shares of the company’s stock worth $76,000 after acquiring an additional 404 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

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.