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

Key Points

• Director Bernadette Aulestia sold 300 Nexstar shares at an average price of $186.80, generating $56,040 and reducing her holdings by 6.41% to 4,383 shares.
• Nexstar shares traded at $186.24, while the company’s latest quarterly EPS of $3.61 missed estimates of $5.98 despite revenue rising 62.2% year over year to $1.99 billion.
• The company announced a quarterly dividend of $1.86 per share, or $7.44 annualized, representing a 4.0% yield; analysts maintain a “Moderate Buy” consensus with a $259 average price target.

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) Director Bernadette Aulestia sold 300 shares of the business's stock in a transaction that occurred 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 sale, the director owned 4,383 shares of the company's stock, valued at $818,744.40. This represents a 6.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Nexstar Media Group Stock Up 0.1%

NASDAQ:NXST traded up $0.10 during midday trading on Monday, hitting $186.24. 373,042 shares of the company were exchanged, compared to its average volume of 389,423. The company has a fifty day simple moving average of $180.87 and a 200 day simple moving average of $199.04. 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 current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 5.09. The company has a market capitalization of $5.74 billion, a PE ratio of 35.75 and a beta of 0.91.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $3.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.98 by ($2.37). The company 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 was up 62.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.06 EPS. As a group, equities analysts anticipate that Nexstar Media Group, Inc. will post 32.88 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given 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 dividend payout ratio (DPR) is 142.80%.

Analyst Upgrades and Downgrades

NXST has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Nexstar Media Group from $270.00 to $255.00 and set a "buy" rating for the company in a research note on Monday, May 11th. Wells Fargo & Company lowered their price target on Nexstar Media Group from $253.00 to $249.00 and set an "overweight" rating on the stock in a report on Friday, August 7th. Wall Street Zen cut Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. 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. Finally, Zacks Research lowered Nexstar Media Group from a "hold" rating to a "strong sell" rating in a report on Monday, August 10th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $259.00.

Institutional Investors Weigh In On Nexstar Media Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Torren Management LLC purchased a new position in shares of Nexstar Media Group during the fourth quarter valued at approximately $28,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Nexstar Media Group during the 3rd quarter worth about $28,000. Danske Bank A S purchased a new stake in Nexstar Media Group during the third quarter worth approximately $59,000. State of Wyoming purchased a new stake in shares of Nexstar Media Group in the second quarter worth about $54,000. Finally, Harbor Investment Advisory LLC purchased a new position in Nexstar Media Group in the 2nd quarter worth approximately $63,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source