Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) CEO Perry A. Sook sold 37,025 shares of Nexstar Media Group stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $160.14, for a total value of $5,929,183.50. Following the completion of the transaction, the chief executive officer now owns 674,694 shares in the company, valued at $108,045,497.16. This trade represents a 5.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Nexstar Media Group Price Performance
Shares of NXST traded down $0.79 during mid-day trading on Friday, hitting $159.14. The company's stock had a trading volume of 166,287 shares, compared to its average volume of 334,430. The firm has a 50-day simple moving average of $168.68 and a 200 day simple moving average of $167.33. The firm has a market capitalization of $4.94 billion, a P/E ratio of 9.20, a P/E/G ratio of 0.20 and a beta of 1.45. Nexstar Media Group, Inc. has a 1-year low of $147.25 and a 1-year high of $191.86. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98.
Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing analysts' consensus estimates of $5.51 by ($0.24). The firm had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The firm's revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.70 earnings per share. Analysts predict that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.
Nexstar Media Group Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $1.69 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a yield of 4.25%. Nexstar Media Group's payout ratio is 39.10%.
Analyst Upgrades and Downgrades
NXST has been the topic of several analyst reports. Benchmark reiterated a "buy" rating and issued a $215.00 target price on shares of Nexstar Media Group in a research note on Friday, November 8th. Loop Capital downgraded Nexstar Media Group from a "buy" rating to a "hold" rating and lowered their target price for the company from $200.00 to $190.00 in a research note on Friday, November 8th. Barrington Research reiterated an "outperform" rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, November 7th. Guggenheim reduced their price target on Nexstar Media Group from $200.00 to $198.00 and set a "buy" rating for the company in a report on Friday, October 4th. Finally, StockNews.com raised Nexstar Media Group from a "hold" rating to a "buy" rating in a report on Friday, November 8th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Nexstar Media Group has an average rating of "Moderate Buy" and an average target price of $204.29.
Read Our Latest Stock Analysis on NXST
Institutional Trading of Nexstar Media Group
Several institutional investors and hedge funds have recently made changes to their positions in the stock. CX Institutional lifted its position in shares of Nexstar Media Group by 5.0% in the third quarter. CX Institutional now owns 1,396 shares of the company's stock valued at $231,000 after acquiring an additional 67 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Nexstar Media Group by 7.3% in the third quarter. Blue Trust Inc. now owns 1,088 shares of the company's stock valued at $181,000 after acquiring an additional 74 shares in the last quarter. Natixis Advisors LLC increased its stake in Nexstar Media Group by 1.2% in the third quarter. Natixis Advisors LLC now owns 10,185 shares of the company's stock valued at $1,684,000 after purchasing an additional 117 shares during the last quarter. Quarry LP increased its stake in Nexstar Media Group by 77.8% in the second quarter. Quarry LP now owns 297 shares of the company's stock valued at $49,000 after purchasing an additional 130 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in Nexstar Media Group in the third quarter valued at $25,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.
About Nexstar Media Group
(
Get Free Report)
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.
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