Brett Jenkins Sells 610 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Brett Jenkins sold 610 shares of the company’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total transaction of $100,802.50. Following the completion of the transaction, the insider now owns 25,616 shares of the company’s stock, valued at $4,233,044. This trade represents a 2.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Brett Jenkins also recently made the following trade(s):

• On Wednesday, June 4th, Brett Jenkins sold 426 shares of Nexstar Media Group stock. The shares were sold at an average price of $167.25, for a total transaction of $71,248.50.
• On Tuesday, May 27th, Brett Jenkins sold 451 shares of Nexstar Media Group stock. The shares were sold at an average price of $173.59, for a total transaction of $78,289.09.
• On Tuesday, May 20th, Brett Jenkins sold 528 shares of Nexstar Media Group stock. The shares were sold at an average price of $175.53, for a total transaction of $92,679.84.

Nexstar Media Group Price Performance

Shares of NXST stock opened at $166.59 on Thursday. Nexstar Media Group, Inc. has a 1-year low of $141.66 and a 1-year high of $191.86. The firm has a fifty day moving average of $162.55 and a two-hundred day moving average of $162.07. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.74 and a quick ratio of 1.74. The firm has a market cap of $5.08 billion, a P/E ratio of 8.44, a P/E/G ratio of 1.22 and a beta of 1.05.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, May 8th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $3.26 by $0.11. Nexstar Media Group had a net margin of 12.21% and a return on equity of 29.21%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the business posted $5.16 EPS. The company’s quarterly revenue was down 3.9% on a year-over-year basis. As a group, research analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 4.47%. The ex-dividend date was Monday, May 19th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 37.69%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Loop Capital raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $190.00 to $200.00 in a report on Friday, February 28th. Benchmark decreased 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 report on Tuesday, May 6th. Guggenheim raised 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. Finally, Wells Fargo & Company decreased 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 report on Thursday, May 1st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.71.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. SBI Securities Co. Ltd. acquired a new position in shares of Nexstar Media Group in the 4th quarter valued at about $25,000. Whipplewood Advisors LLC boosted its holdings in shares of Nexstar Media Group by 830.3% in the 1st quarter. Whipplewood Advisors LLC now owns 307 shares of the company’s stock valued at $55,000 after buying an additional 274 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Nexstar Media Group by 2,293.8% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 383 shares of the company’s stock valued at $69,000 after buying an additional 367 shares during the period. First Horizon Advisors Inc. boosted its holdings in shares of Nexstar Media Group by 62.3% in the 1st quarter. First Horizon Advisors Inc. now owns 401 shares of the company’s stock valued at $72,000 after buying an additional 154 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in shares of Nexstar Media Group by 2,126.3% in the 1st quarter. Versant Capital Management Inc now owns 423 shares of the company’s stock valued at $76,000 after buying an additional 404 shares during the period. 95.30% of the stock is 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.