Insider Selling: Nexstar Media Group, Inc. (NASDAQ:NXST) Director Sells 1,000 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) Director Charles Thomas Mcmillen sold 1,000 shares of the company's stock in a transaction that occurred on Monday, June 28th. The shares were sold at an average price of $151.73, for a total value of $151,730.00. Following the completion of the sale, the director now owns 5,535 shares in the company, valued at $839,825.55. The trade was a 15.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Charles Thomas Mcmillen also recently made the following trade(s):

• On Wednesday, March 5th, Charles Thomas Mcmillen sold 2,000 shares of Nexstar Media Group stock. The shares were sold at an average price of $169.51, for a total value of $339,020.00.

Nexstar Media Group Stock Performance

Shares of NXST stock traded down $0.46 during trading on Tuesday, hitting $178.76. The company's stock had a trading volume of 532,014 shares, compared to its average volume of 352,944. The business has a fifty day moving average of $163.39 and a 200-day moving average of $164.85. The company has a market cap of $5.45 billion, a PE ratio of 10.34, a P/E/G ratio of 0.45 and a beta of 1.47. Nexstar Media Group, Inc. has a 52 week low of $146.04 and a 52 week 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.

Remove Ads

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported $7.56 EPS for the quarter, missing analysts' consensus estimates of $9.22 by ($1.66). The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. As a group, research analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a dividend of $1.86 per share. This is an increase from Nexstar Media Group's previous quarterly dividend of $1.69. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date was Wednesday, February 12th. Nexstar Media Group's dividend payout ratio is currently 34.56%.

Wall Street Analyst Weigh In

NXST has been the topic of a number of recent research reports. Rosenblatt Securities reiterated a "buy" rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Monday, March 10th. Guggenheim upped their target price 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. Loop Capital upgraded Nexstar Media Group from a "hold" rating to a "buy" rating and lifted their price target for the company from $190.00 to $200.00 in a research note on Friday, February 28th. StockNews.com downgraded Nexstar Media Group from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, Benchmark lifted their target price on Nexstar Media Group from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, February 28th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $208.43.

Institutional Investors Weigh In On Nexstar Media Group

Large investors have recently modified their holdings of the stock. Cerity Partners LLC increased its position in Nexstar Media Group by 99.7% in the third quarter. Cerity Partners LLC now owns 7,136 shares of the company's stock worth $1,180,000 after buying an additional 3,563 shares during the last quarter. Hancock Whitney Corp increased its holdings in Nexstar Media Group by 11.6% in the 3rd quarter. Hancock Whitney Corp now owns 2,442 shares of the company's stock worth $404,000 after acquiring an additional 254 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in Nexstar Media Group by 1.5% during the third quarter. D.A. Davidson & CO. now owns 23,632 shares of the company's stock valued at $3,908,000 after purchasing an additional 340 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Nexstar Media Group during the third quarter valued at about $25,000. Finally, BNP Paribas Financial Markets boosted its position in Nexstar Media Group by 67.8% during the third quarter. BNP Paribas Financial Markets now owns 26,239 shares of the company's stock worth $4,339,000 after purchasing an additional 10,603 shares during the period. Hedge funds and other institutional investors own 95.30% of the company's stock.

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.