Insider Selling: Nexstar Media Group, Inc. (NASDAQ:NXST) CEO Sells 12,239 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) CEO Perry A. Sook sold 12,239 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $190.28, for a total transaction of $2,328,836.92. Following the completion of the transaction, the chief executive officer now owns 674,694 shares of the company’s stock, valued at $128,380,774.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Nexstar Media Group Trading Down 1.7 %

NXST stock traded down $2.88 during midday trading on Tuesday, reaching $168.13. The company’s stock had a trading volume of 111,987 shares, compared to its average volume of 328,402. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78. The stock has a fifty day simple moving average of $168.54 and a two-hundred day simple moving average of $167.06. Nexstar Media Group, Inc. has a 1 year low of $140.92 and a 1 year high of $191.86. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of 9.89, a PEG ratio of 0.19 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). Nexstar Media Group had a net margin of 11.39% and a return on equity of 25.72%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the business earned $0.70 EPS. Nexstar Media Group’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, equities research analysts predict that Nexstar Media Group, Inc. will post 25.72 EPS for the current year.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group’s payout ratio is presently 39.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Benchmark reissued a “buy” rating and set a $215.00 target price on shares of Nexstar Media Group in a report on Friday. Barrington Research restated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a report on Friday, August 9th. Wells Fargo & Company decreased their price objective on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Finally, Loop Capital lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $200.00 to $190.00 in a research report on Friday. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Nexstar Media Group currently has an average rating of “Moderate Buy” and a consensus price target of $198.50.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its holdings in Nexstar Media Group by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company’s stock valued at $179,149,000 after buying an additional 7,117 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Nexstar Media Group by 5.8% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 111,905 shares of the company’s stock worth $18,504,000 after acquiring an additional 6,101 shares in the last quarter. Payden & Rygel grew its stake in Nexstar Media Group by 40.4% during the 3rd quarter. Payden & Rygel now owns 110,200 shares of the company’s stock worth $18,222,000 after buying an additional 31,700 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of Nexstar Media Group by 46.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 21,908 shares of the company’s stock valued at $3,622,000 after purchasing an additional 6,984 shares during the last quarter. Finally, Pathstone Holdings LLC grew its stake in shares of Nexstar Media Group by 6.7% in the 3rd quarter. Pathstone Holdings LLC now owns 22,009 shares of the company’s stock valued at $3,639,000 after purchasing an additional 1,388 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

About Nexstar Media Group

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.