Dana Zimmer Sells 4,008 Shares of Nexstar Media Group (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Dana Zimmer sold 4,008 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $187.46, for a total value of $751,339.68. Following the sale, the insider directly owned 1,792 shares in the company, valued at $335,928.32. This trade represents a 69.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Dana Zimmer also recently made the following trade(s):

• On Tuesday, June 16th, Dana Zimmer sold 876 shares of Nexstar Media Group stock. The shares were sold at an average price of $170.81, for a total value of $149,629.56.
• On Wednesday, June 10th, Dana Zimmer sold 915 shares of Nexstar Media Group stock. The stock was sold at an average price of $176.42, for a total value of $161,424.30.
• On Thursday, June 4th, Dana Zimmer sold 433 shares of Nexstar Media Group stock. The stock was sold at an average price of $182.42, for a total value of $78,987.86.
• On Wednesday, May 27th, Dana Zimmer sold 465 shares of Nexstar Media Group stock. The stock was sold at an average price of $187.32, for a total value of $87,103.80.

Nexstar Media Group Price Performance

Nexstar Media Group stock traded down $5.40 during trading hours on Monday, hitting $184.17. The stock had a trading volume of 96,688 shares, compared to its average volume of 389,729. Nexstar Media Group, Inc. has a 1-year low of $154.47 and a 1-year high of $254.30. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of 35.20 and a beta of 0.91. The stock’s fifty day moving average is $179.90 and its two-hundred day moving average is $199.86. The company has a debt-to-equity ratio of 5.09, a current ratio of 1.56 and a quick ratio of 1.56.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, August 6th. The company reported $3.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.98 by ($2.37). Nexstar Media Group had a return on equity of 24.02% and a net margin of 3.20%.The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period last year, the firm earned $3.06 EPS. The company’s quarterly revenue was up 62.2% compared to the same quarter last year. As a group, analysts predict that Nexstar Media Group, Inc. will post 32.88 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 4.0%. The ex-dividend date is Friday, August 14th. Nexstar Media Group’s dividend payout ratio (DPR) is 142.80%.

Analysts Set New Price Targets

Several brokerages have issued reports on NXST. Zacks Research downgraded shares of Nexstar Media Group from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Wells Fargo & Company cut their price objective on Nexstar Media Group from $253.00 to $249.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft reduced their target price on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexstar Media Group in a report on Wednesday, May 27th. Finally, Wall Street Zen cut Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $259.00.

Institutional Investors Weigh In On Nexstar Media Group

Several hedge funds have recently modified their holdings of NXST. Torren Management LLC purchased a new position in Nexstar Media Group during the fourth quarter worth about $28,000. Measured Wealth Private Client Group LLC purchased a new stake in Nexstar Media Group in the 3rd quarter valued at about $28,000. WPG Advisers LLC grew its holdings in Nexstar Media Group by 65.7% in the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after buying an additional 71 shares during the period. State of Wyoming acquired a new position in shares of Nexstar Media Group during the 2nd quarter valued at about $54,000. Finally, Danske Bank A S acquired a new position in shares of Nexstar Media Group during the 3rd quarter valued at about $59,000. 95.30% of the stock is owned by institutional investors and hedge funds.

About Nexstar Media Group

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.