Nexstar Media Group (NASDAQ:NXST) Director Bernadette Aulestia Sells 300 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) Director Bernadette Aulestia sold 300 shares of Nexstar Media Group stock in a transaction on Monday, August 24th. The stock was sold at an average price of $186.80, for a total transaction of $56,040.00. Following the completion of the transaction, the director directly owned 4,383 shares of the company’s stock, valued at approximately $818,744.40. This represents a 6.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Nexstar Media Group Stock Performance

Shares of NXST stock traded up $0.10 during trading hours on Monday, reaching $186.24. The stock had a trading volume of 373,042 shares, compared to its average volume of 389,423. The firm has a 50-day simple moving average of $180.87 and a 200-day simple moving average of $199.04. Nexstar Media Group, Inc. has a twelve month low of $154.47 and a twelve month high of $254.30. The firm has a market capitalization of $5.74 billion, a PE ratio of 35.75 and a beta of 0.91. The company has a debt-to-equity ratio of 5.09, a current ratio of 1.56 and a quick ratio of 1.56.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, August 6th. The company reported $3.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.98 by ($2.37). Nexstar Media Group had a net margin of 3.20% and a return on equity of 24.02%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the prior year, the company earned $3.06 EPS. The business’s quarterly revenue was up 62.2% on a year-over-year basis. As a group, equities analysts forecast that Nexstar Media Group, Inc. will post 32.88 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a dividend of $1.86 per share. The ex-dividend date is Friday, August 14th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.0%. Nexstar Media Group’s payout ratio is currently 142.80%.

Institutional Trading of Nexstar Media Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System increased its stake in shares of Nexstar Media Group by 17,529.4% in the 2nd quarter. California State Teachers Retirement System now owns 5,924,366 shares of the company’s stock valued at $1,058,033,000 after acquiring an additional 5,890,761 shares during the last quarter. Paralel Advisors LLC acquired a new position in Nexstar Media Group during the second quarter valued at approximately $2,285,000. AlphaGrep UK Ltd acquired a new position in Nexstar Media Group during the second quarter valued at approximately $542,000. Odyssean LLC increased its stake in Nexstar Media Group by 188.6% in the second quarter. Odyssean LLC now owns 17,036 shares of the company’s stock valued at $3,042,000 after purchasing an additional 11,133 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its holdings in Nexstar Media Group by 2,188.4% in the second quarter. TD Waterhouse Canada Inc. now owns 2,174 shares of the company’s stock worth $394,000 after purchasing an additional 2,079 shares during the period. Institutional investors own 95.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Barrington Research reaffirmed an “outperform” rating and set a $290.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Wells Fargo & Company dropped their target price on shares of Nexstar Media Group from $253.00 to $249.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft cut their price target on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a report on Monday, May 11th. Wall Street Zen cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Nexstar Media Group in a report on Wednesday, May 27th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $259.00.

About Nexstar Media Group

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.