Dana Zimmer Sells 883 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) insider Dana Zimmer sold 883 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $167.25, for a total value of $147,681.75. Following the completion of the transaction, the insider now directly owns 5,216 shares of the company's stock, valued at approximately $872,376. This represents a 14.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Dana Zimmer also recently made the following trade(s):

• On Tuesday, May 27th, Dana Zimmer sold 916 shares of Nexstar Media Group stock. The shares were sold at an average price of $173.59, for a total value of $159,008.44.
• On Tuesday, May 20th, Dana Zimmer sold 1,151 shares of Nexstar Media Group stock. The stock was sold at an average price of $175.53, for a total value of $202,035.03.

Nexstar Media Group Trading Up 2.6%

NXST stock traded up $4.29 during mid-day trading on Friday, hitting $169.00. 224,880 shares of the company were exchanged, compared to its average volume of 389,535. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The firm has a market capitalization of $5.16 billion, a P/E ratio of 9.77, a PEG ratio of 0.45 and a beta of 1.06. The business has a fifty day simple moving average of $160.90 and a 200-day simple moving average of $162.14. Nexstar Media Group, Inc. has a 12-month low of $141.66 and a 12-month 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, topping the consensus estimate of $3.26 by $0.11. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. Nexstar Media Group's revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the firm posted $5.16 earnings per share. On average, equities research analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NXST shares. Wells Fargo & Company dropped their price objective on shares of Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Loop Capital raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating and upped their price objective for the company from $190.00 to $200.00 in a report on Friday, February 28th. Barrington Research reissued an "outperform" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Tuesday, May 13th. Benchmark dropped their price objective on shares of Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Finally, Wall Street Zen lowered shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $205.71.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Strs Ohio acquired a new stake in shares of Nexstar Media Group during the first quarter worth about $1,222,000. WBI Investments LLC acquired a new stake in shares of Nexstar Media Group during the first quarter worth about $268,000. Acadian Asset Management LLC acquired a new stake in shares of Nexstar Media Group during the first quarter worth about $654,000. Geneos Wealth Management Inc. lifted its position in shares of Nexstar Media Group by 86.4% during the first quarter. Geneos Wealth Management Inc. now owns 509 shares of the company's stock worth $91,000 after purchasing an additional 236 shares in the last quarter. Finally, Belpointe Asset Management LLC lifted its position in shares of Nexstar Media Group by 148.8% during the first quarter. Belpointe Asset Management LLC now owns 2,966 shares of the company's stock worth $532,000 after purchasing an additional 1,774 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.