Insider Selling: Nexstar Media Group, Inc. (NASDAQ:NXST) Insider Sells 363 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Gary Weitman sold 363 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $173.59, for a total transaction of $63,013.17. Following the completion of the sale, the insider now owns 6,438 shares in the company, valued at $1,117,572.42. This represents a 5.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Gary Weitman also recently made the following trade(s):

• On Tuesday, May 20th, Gary Weitman sold 424 shares of Nexstar Media Group stock. The shares were sold at an average price of $175.53, for a total transaction of $74,424.72.
• On Friday, March 7th, Gary Weitman sold 1,241 shares of Nexstar Media Group stock. The shares were sold at an average price of $177.21, for a total transaction of $219,917.61.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST opened at $170.56 on Friday. Nexstar Media Group, Inc. has a twelve month low of $141.66 and a twelve month high of $191.86. The firm has a fifty day simple moving average of $162.32 and a 200 day simple moving average of $162.01. 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 quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, May 8th. The company reported $3.37 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the firm earned $5.16 earnings per share. Nexstar Media Group’s quarterly revenue was down 3.9% on a year-over-year basis. On average, sell-side analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Dividend Announcement

The company also recently announced 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. This represents a $7.44 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date is Monday, May 19th. Nexstar Media Group’s dividend payout ratio is presently 37.69%.

Institutional Investors Weigh In On Nexstar Media Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Strs Ohio bought a new stake in Nexstar Media Group in the first quarter valued at $1,222,000. WBI Investments LLC bought a new stake in Nexstar Media Group in the first quarter valued at $268,000. Acadian Asset Management LLC bought a new stake in Nexstar Media Group in the first quarter valued at $654,000. Geneos Wealth Management Inc. increased its stake in Nexstar Media Group by 86.4% in the first quarter. Geneos Wealth Management Inc. now owns 509 shares of the company’s stock valued at $91,000 after purchasing an additional 236 shares in the last quarter. Finally, Belpointe Asset Management LLC increased its stake in Nexstar Media Group by 148.8% in the first quarter. Belpointe Asset Management LLC now owns 2,966 shares of the company’s stock valued at $532,000 after purchasing an additional 1,774 shares in the last quarter. 95.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NXST shares. Barrington Research restated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research report on Tuesday, May 13th. Loop Capital raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating and raised their price target for the company from $190.00 to $200.00 in a research note on Friday, February 28th. Benchmark dropped their price target 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 downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Monday, March 10th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus 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.