Nexstar Media Group, Inc. (NASDAQ:NXST) CEO Sells $5,929,183.50 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) CEO Perry A. Sook sold 37,025 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $160.14, for a total value of $5,929,183.50. Following the transaction, the chief executive officer now directly owns 674,694 shares in the company, valued at approximately $108,045,497.16. The trade was a 5.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Nexstar Media Group Stock Performance

Shares of NXST stock traded down $1.69 during trading hours on Friday, reaching $158.24. 54,419 shares of the company’s stock were exchanged, compared to its average volume of 333,976. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. Nexstar Media Group, Inc. has a 1 year low of $147.25 and a 1 year high of $191.86. The company has a market cap of $4.91 billion, a P/E ratio of 9.15, a price-to-earnings-growth ratio of 0.20 and a beta of 1.45. The company’s 50 day moving average is $168.68 and its two-hundred day moving average is $167.33.

Nexstar Media Group (NASDAQ:NXST) last released 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). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the business posted $0.70 EPS. Nexstar Media Group’s revenue was up 20.7% compared to the same quarter last year. Equities research analysts anticipate that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $1.69 dividend. The ex-dividend date was Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a yield of 4.27%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 39.10%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Guggenheim cut their price target on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Benchmark reiterated a “buy” rating and issued a $215.00 price target on shares of Nexstar Media Group in a research report on Friday, November 8th. StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, November 7th. Finally, Loop Capital lowered Nexstar Media Group from a “buy” rating to a “hold” rating and lowered their price target for the stock from $200.00 to $190.00 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.29.

Institutional Investors Weigh In On Nexstar Media Group

Several institutional investors have recently modified their holdings of NXST. Bank of New York Mellon Corp boosted its position in Nexstar Media Group by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 418,815 shares of the company’s stock worth $69,528,000 after purchasing an additional 2,145 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Nexstar Media Group by 3,700.0% in 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 last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Nexstar Media Group by 6.6% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 31,118 shares of the company’s stock valued at $5,166,000 after acquiring an additional 1,938 shares in the last quarter. Whittier Trust Co. acquired a new position in Nexstar Media Group during the second quarter worth about $27,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Nexstar Media Group by 5.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,311 shares of the company’s stock valued at $1,214,000 after purchasing an additional 365 shares in the last quarter. 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.