Nexstar Media Group, Inc. (NASDAQ:NXST) Insider Sells $219,917.61 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) insider Gary Weitman sold 1,241 shares of Nexstar Media Group stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $177.21, for a total value of $219,917.61. Following the completion of the sale, the insider now owns 3,975 shares in the company, valued at approximately $704,409.75. The trade was a 23.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Nexstar Media Group Trading Down 3.3 %

Nexstar Media Group stock traded down $5.83 during trading on Tuesday, hitting $171.12. The company had a trading volume of 218,741 shares, compared to its average volume of 379,290. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 9.89, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47. 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, Inc. has a 1-year low of $146.04 and a 1-year high of $191.86. The company's 50 day simple moving average is $156.61 and its 200-day simple moving average is $163.71.

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

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Nexstar Media Group Increases Dividend

The firm also recently declared 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 represents a $7.44 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend was Wednesday, February 12th. This is a boost from Nexstar Media Group's previous quarterly dividend of $1.69. Nexstar Media Group's dividend payout ratio is currently 34.56%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Rosenblatt Securities reaffirmed a "buy" rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Monday. Guggenheim lifted their target price on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. StockNews.com cut shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Loop Capital upgraded shares of Nexstar Media Group from a "hold" rating to a "buy" rating and boosted their price target for the stock from $190.00 to $200.00 in a research report on Friday, February 28th. Finally, Benchmark upped their price objective on shares of Nexstar Media Group from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $208.43.

Institutional Investors Weigh In On Nexstar Media Group

Several large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its stake in shares of Nexstar Media Group by 67.8% in the third quarter. BNP Paribas Financial Markets now owns 26,239 shares of the company's stock worth $4,339,000 after acquiring an additional 10,603 shares in the last quarter. SGL Investment Advisors Inc. acquired a new position in Nexstar Media Group during the 3rd quarter worth $3,758,000. Charles Schwab Investment Management Inc. increased its holdings in Nexstar Media Group by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company's stock worth $179,149,000 after purchasing an additional 7,117 shares during the period. Quest Partners LLC raised its position in Nexstar Media Group by 661.4% in the 3rd quarter. Quest Partners LLC now owns 8,672 shares of the company's stock valued at $1,434,000 after purchasing an additional 7,533 shares in the last quarter. Finally, Holocene Advisors LP lifted its stake in Nexstar Media Group by 680.9% in the third quarter. Holocene Advisors LP now owns 17,219 shares of the company's stock worth $2,847,000 after acquiring an additional 15,014 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

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.