D Geoffrey Armstrong Sells 2,000 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) Director D Geoffrey Armstrong sold 2,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $166.38, for a total transaction of $332,760.00. Following the sale, the director now directly owns 7,250 shares in the company, valued at $1,206,255. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Nexstar Media Group Price Performance

NASDAQ NXST traded up $1.92 during trading hours on Tuesday, reaching $168.37. The company’s stock had a trading volume of 147,600 shares, compared to its average volume of 329,520. Nexstar Media Group, Inc. has a 1-year low of $132.30 and a 1-year high of $187.27. The company’s 50-day moving average is $170.04 and its two-hundred day moving average is $165.64. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.78 and a quick ratio of 1.78. The firm has a market capitalization of $5.55 billion, a price-to-earnings ratio of 14.34, a P/E/G ratio of 0.18 and a beta of 1.50.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Thursday, August 8th. The company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.48 by ($0.94). Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the business earned $2.64 EPS. Nexstar Media Group’s revenue was up 2.3% compared to the same quarter last year. On average, equities analysts predict that Nexstar Media Group, Inc. will post 25.72 EPS for the current year.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date was Friday, August 9th. Nexstar Media Group’s dividend payout ratio is presently 57.19%.

Institutional Trading of Nexstar Media Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Whittier Trust Co. acquired a new stake in Nexstar Media Group during the 2nd quarter worth $27,000. EverSource Wealth Advisors LLC boosted its position in shares of Nexstar Media Group by 632.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock worth $32,000 after purchasing an additional 177 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Nexstar Media Group by 3,700.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after acquiring an additional 259 shares during the period. Quadrant Capital Group LLC raised its position in Nexstar Media Group by 41.1% during the fourth quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock worth $46,000 after acquiring an additional 86 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Nexstar Media Group by 112.2% in the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock valued at $49,000 after purchasing an additional 156 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NXST. Deutsche Bank Aktiengesellschaft reduced 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 research report on Friday, August 9th. Benchmark reiterated a “buy” rating and issued a $225.00 price target on shares of Nexstar Media Group in a research note on Friday, August 9th. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, August 8th. StockNews.com lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Wells Fargo & Company dropped their price target on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $201.67.

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.