Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Blake Russell Sells 326 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Blake Russell sold 326 shares of the business’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $167.25, for a total transaction of $54,523.50. Following the sale, the executive vice president now directly owns 24,019 shares in the company, valued at approximately $4,017,177.75. This trade represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Blake Russell also recently made the following trade(s):

• On Tuesday, May 27th, Blake Russell sold 362 shares of Nexstar Media Group stock. The stock was sold at an average price of $173.59, for a total transaction of $62,839.58.
• On Tuesday, May 20th, Blake Russell sold 424 shares of Nexstar Media Group stock. The stock was sold at an average price of $175.53, for a total transaction of $74,424.72.

Nexstar Media Group Trading Up 2.6%

Shares of NASDAQ:NXST opened at $169.00 on Friday. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The stock’s 50-day moving average is $160.90 and its 200-day moving average is $162.10. Nexstar Media Group, Inc. has a 52-week low of $141.66 and a 52-week high of $191.86. The company has a market cap of $5.16 billion, a P/E ratio of 9.77, a P/E/G ratio of 0.45 and a beta of 1.05.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, May 8th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.23 billion. During the same quarter last year, the company earned $5.16 earnings per share. The firm’s revenue was down 3.9% on a year-over-year basis. Equities research analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend was Monday, May 19th. Nexstar Media Group’s payout ratio is presently 37.69%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NXST shares. Guggenheim upped their price objective on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Wall Street Zen cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Loop Capital raised 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 report on Friday, February 28th. Benchmark lowered their price target on Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research report on Monday, March 10th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and an average target price of $205.71.

Institutional Investors Weigh In On Nexstar Media Group

Several hedge funds have recently made changes to their positions in NXST. SBI Securities Co. Ltd. bought a new stake in shares of Nexstar Media Group in the fourth quarter valued at about $25,000. Whipplewood Advisors LLC lifted its stake in Nexstar Media Group by 830.3% during the first quarter. Whipplewood Advisors LLC now owns 307 shares of the company’s stock worth $55,000 after purchasing an additional 274 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in Nexstar Media Group by 2,293.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 383 shares of the company’s stock worth $69,000 after purchasing an additional 367 shares during the period. First Horizon Advisors Inc. lifted its stake in Nexstar Media Group by 62.3% during the first quarter. First Horizon Advisors Inc. now owns 401 shares of the company’s stock worth $72,000 after purchasing an additional 154 shares during the period. Finally, Versant Capital Management Inc lifted its stake in Nexstar Media Group by 2,126.3% during the first 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 period. Institutional investors own 95.30% of the company’s stock.

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.