Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Sells $87,973.50 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Lee Ann Gliha sold 526 shares of the company’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $167.25, for a total value of $87,973.50. Following the completion of the transaction, the executive vice president now directly owns 11,709 shares in the company, valued at approximately $1,958,330.25. This represents a 4.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Lee Ann Gliha also recently made the following trade(s):

• On Tuesday, May 27th, Lee Ann Gliha sold 1,437 shares of Nexstar Media Group stock. The shares were sold at an average price of $173.59, for a total value of $249,448.83.

Nexstar Media Group Stock Performance

NXST opened at $169.00 on Friday. The firm has a market cap of $5.16 billion, a P/E ratio of 9.77, a price-to-earnings-growth ratio of 0.45 and a beta of 1.05. Nexstar Media Group, Inc. has a 52-week low of $141.66 and a 52-week high of $191.86. 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 business’s fifty day moving average is $160.90 and its 200-day moving average is $162.10.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, May 8th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.11. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the firm posted $5.16 EPS. Nexstar Media Group’s quarterly 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 fiscal year.

Nexstar Media Group Announces Dividend

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

Institutional Trading of Nexstar Media Group

Institutional investors and hedge funds have recently modified their holdings of the business. Entropy Technologies LP bought a new stake in shares of Nexstar Media Group during the 4th quarter worth $506,000. Barclays PLC lifted its position in shares of Nexstar Media Group by 16.8% during the 3rd quarter. Barclays PLC now owns 45,051 shares of the company’s stock worth $7,448,000 after buying an additional 6,475 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Nexstar Media Group during the 4th quarter worth $1,264,000. Empowered Funds LLC lifted its position in shares of Nexstar Media Group by 13.6% during the 4th quarter. Empowered Funds LLC now owns 25,575 shares of the company’s stock worth $4,040,000 after buying an additional 3,068 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Nexstar Media Group by 5.0% during the 4th quarter. Bank of New York Mellon Corp now owns 403,728 shares of the company’s stock worth $63,777,000 after buying an additional 19,116 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NXST. Wells Fargo & Company decreased their price objective on Nexstar Media Group from $216.00 to $200.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Tuesday, May 13th. Rosenblatt Securities reissued a “buy” rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Monday, March 10th. Loop Capital raised Nexstar Media Group from a “hold” rating to a “buy” rating and increased their target price for the stock from $190.00 to $200.00 in a report on Friday, February 28th. Finally, Benchmark reduced their target price on Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.