Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Blake Russell Sells 362 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) EVP Blake Russell sold 362 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $173.59, for a total transaction of $62,839.58. Following the completion of the transaction, the executive vice president now directly owns 23,033 shares in the company, valued at $3,998,298.47. This trade represents a 1.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Blake Russell also recently made the following trade(s):

• On Tuesday, May 20th, Blake Russell sold 424 shares of Nexstar Media Group stock. The stock was sold at an average price of $175.53, for a total transaction of $74,424.72.

Nexstar Media Group Price Performance

Shares of NASDAQ:NXST traded down $0.58 on Friday, hitting $169.98. The company's stock had a trading volume of 333,983 shares, compared to its average volume of 391,229. The company has a market capitalization of $5.19 billion, a PE ratio of 9.83, a PEG ratio of 0.45 and a beta of 1.06. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. The company has a 50-day simple moving average of $162.10 and a 200 day simple moving average of $162.02. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $191.86.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $3.37 earnings per share for the quarter, beating analysts' consensus estimates of $3.26 by $0.11. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the firm posted $5.16 earnings per share. Nexstar Media Group's quarterly revenue was down 3.9% on a year-over-year basis. Sell-side analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 4.38%. The ex-dividend date is Monday, May 19th. Nexstar Media Group's dividend payout ratio (DPR) is currently 37.69%.

Institutional Trading of Nexstar Media Group

A number of hedge funds have recently made changes to their positions in the stock. Demars Financial Group LLC increased its holdings in shares of Nexstar Media Group by 16,009.5% in the fourth quarter. Demars Financial Group LLC now owns 773,737 shares of the company's stock worth $122,227,000 after buying an additional 768,934 shares during the period. Jones Financial Companies Lllp boosted its stake in Nexstar Media Group by 71,715.8% during the first quarter. Jones Financial Companies Lllp now owns 394,987 shares of the company's stock worth $70,790,000 after acquiring an additional 394,437 shares in the last quarter. New Vernon Capital Holdings II LLC purchased a new stake in shares of Nexstar Media Group in the first quarter worth $60,064,000. Norges Bank purchased a new position in Nexstar Media Group in the 4th quarter worth approximately $44,460,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of Nexstar Media Group by 611.5% during the 1st quarter. Victory Capital Management Inc. now owns 289,668 shares of the company's stock valued at $51,914,000 after acquiring an additional 248,957 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Rosenblatt Securities restated a "buy" rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Monday, March 10th. Wall Street Zen downgraded shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Barrington Research reaffirmed an "outperform" rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, May 13th. Benchmark decreased their target price on shares of Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Finally, Guggenheim increased their target price on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Nexstar Media Group has an average rating of "Moderate Buy" and an average price target of $205.71.

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.