Nexstar Media Group (NASDAQ:NXST) Insider Andrew Alford Sells 2,823 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Andrew Alford sold 2,823 shares of the company’s stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $165.69, for a total transaction of $467,742.87. Following the transaction, the insider owned 11,726 shares of the company’s stock, valued at approximately $1,942,880.94. The trade was a 19.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Nexstar Media Group Stock Performance

Nexstar Media Group stock traded down $1.96 during trading hours on Wednesday, hitting $165.57. The stock had a trading volume of 341,463 shares, compared to its average volume of 389,577. The company has a 50-day moving average of $181.52 and a two-hundred day moving average of $189.68. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 5.09. Nexstar Media Group, Inc. has a fifty-two week low of $154.47 and a fifty-two week high of $254.30. The company has a market cap of $5.10 billion, a PE ratio of 31.78 and a beta of 0.90.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, August 6th. The company reported $3.61 EPS for the quarter, missing analysts’ consensus estimates of $5.98 by ($2.37). The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.97 billion. Nexstar Media Group had a net margin of 3.20% and a return on equity of 24.02%. The business’s revenue for the quarter was up 62.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.06 earnings per share. On average, equities research analysts anticipate that Nexstar Media Group, Inc. will post 32.88 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Friday, August 14th. Nexstar Media Group’s payout ratio is 142.80%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Wells Fargo & Company cut their price target on shares of Nexstar Media Group from $253.00 to $249.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Zacks Research lowered Nexstar Media Group from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Nexstar Media Group in a report on Monday, August 24th. Deutsche Bank Aktiengesellschaft cut their target price on Nexstar Media Group from $255.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Finally, Wall Street Zen lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $256.50.

Institutional Trading of Nexstar Media Group

Hedge funds have recently modified their holdings of the company. Harbor Investment Advisory LLC acquired a new position in shares of Nexstar Media Group in the 2nd quarter worth approximately $63,000. Allworth Financial LP grew its position in Nexstar Media Group by 35.8% during the 2nd quarter. Allworth Financial LP now owns 360 shares of the company’s stock worth $64,000 after acquiring an additional 95 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in Nexstar Media Group during the 2nd quarter valued at $67,000. Hantz Financial Services Inc. increased its holdings in Nexstar Media Group by 80.1% during the 4th quarter. Hantz Financial Services Inc. now owns 362 shares of the company’s stock valued at $74,000 after purchasing an additional 161 shares in the last quarter. Finally, Parvin Asset Management LLC bought a new position in Nexstar Media Group in the 2nd quarter valued at $80,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

About Nexstar Media Group

Nexstar Media Group, Inc is a diversified American media company that owns and operates local television stations and digital media platforms across the United States. Its stations provide locally produced news, weather, sports and community programming, while also carrying programming from major broadcast networks, including ABC, CBS, NBC, FOX and The CW, depending on the market.

The company also operates NewsNation, a national cable news and information network, and develops digital content and advertising solutions through its online properties.