Nexstar Media Group, Inc. (NASDAQ:NXST) Insider Sells $125,604.75 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) insider Andrew Alford sold 751 shares of Nexstar Media Group stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $167.25, for a total value of $125,604.75. Following the completion of the sale, the insider now owns 9,411 shares of the company's stock, valued at $1,573,989.75. This trade represents a 7.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Andrew Alford also recently made the following trade(s):

• On Tuesday, May 27th, Andrew Alford sold 779 shares of Nexstar Media Group stock. The shares were sold at an average price of $173.59, for a total value of $135,226.61.
• On Tuesday, May 20th, Andrew Alford sold 838 shares of Nexstar Media Group stock. The shares were sold at an average price of $175.53, for a total value of $147,094.14.
• On Wednesday, March 26th, Andrew Alford sold 3,768 shares of Nexstar Media Group stock. The shares were sold at an average price of $181.98, for a total value of $685,700.64.

Nexstar Media Group Trading Up 2.6%

Shares of NASDAQ:NXST traded up $4.29 during trading on Friday, reaching $169.00. 224,880 shares of the stock were exchanged, compared to its average volume of 389,535. The firm has a market cap of $5.16 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 0.45 and a beta of 1.06. Nexstar Media Group, Inc. has a 12-month low of $141.66 and a 12-month high of $191.86. The firm's 50-day moving average price is $160.90 and its 200 day moving average price is $162.14. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $3.37 earnings per share for the quarter, topping analysts' consensus estimates of $3.26 by $0.11. The firm had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.23 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. Nexstar Media Group's quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.16 EPS. On average, sell-side analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date of this dividend was Monday, May 19th. Nexstar Media Group's dividend payout ratio is presently 37.69%.

Wall Street Analyst Weigh In

Several research firms have commented on NXST. Loop Capital upgraded Nexstar Media Group from a "hold" rating to a "buy" rating and lifted their price target for the company from $190.00 to $200.00 in a report on Friday, February 28th. Rosenblatt Securities reiterated a "buy" rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Monday, March 10th. Wells Fargo & Company decreased their target price on Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Guggenheim boosted their target price on Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, Benchmark decreased their target price on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Nexstar Media Group has a consensus rating of "Moderate Buy" and a consensus price target of $205.71.

Hedge Funds Weigh In On Nexstar Media Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Strs Ohio purchased a new position in Nexstar Media Group in the 1st quarter worth approximately $1,222,000. WBI Investments LLC purchased a new position in Nexstar Media Group in the 1st quarter worth approximately $268,000. Acadian Asset Management LLC purchased a new position in Nexstar Media Group in the 1st quarter worth approximately $654,000. Geneos Wealth Management Inc. boosted its holdings in Nexstar Media Group by 86.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 509 shares of the company's stock worth $91,000 after acquiring an additional 236 shares during the period. Finally, Belpointe Asset Management LLC boosted its holdings in Nexstar Media Group by 148.8% in the 1st quarter. Belpointe Asset Management LLC now owns 2,966 shares of the company's stock worth $532,000 after acquiring an additional 1,774 shares during the period. Hedge funds and other institutional investors own 95.30% of the company's stock.

Nexstar Media Group Company Profile

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.