Insider Selling: Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Sells 363 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) EVP Rachel Morgan sold 363 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $173.59, for a total transaction of $63,013.17. Following the transaction, the executive vice president now owns 1,137 shares in the company, valued at approximately $197,371.83. The trade was a 24.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Nexstar Media Group Stock Performance

Shares of Nexstar Media Group stock traded down $3.12 during trading on Monday, reaching $167.30. The company's stock had a trading volume of 251,751 shares, compared to its average volume of 390,484. The business's 50-day moving average price is $162.10 and its 200-day moving average price is $161.96. The firm has a market cap of $5.10 billion, a PE ratio of 9.68, a P/E/G ratio of 0.45 and a beta of 1.06. Nexstar Media Group, Inc. has a 52 week low of $141.66 and a 52 week high of $191.86. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98.

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 (EPS) for the quarter, beating analysts' consensus estimates of $3.26 by $0.11. The company had revenue of $1.23 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.16 earnings per share. Equities analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a $1.86 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.45%. Nexstar Media Group's payout ratio is presently 37.69%.

Institutional Investors Weigh In On Nexstar Media Group

Institutional investors have recently modified their holdings of the business. SBI Securities Co. Ltd. bought a new stake in shares of Nexstar Media Group in the fourth quarter valued at about $25,000. Whipplewood Advisors LLC lifted its position in Nexstar Media Group by 830.3% during the first quarter. Whipplewood Advisors LLC now owns 307 shares of the company's stock worth $55,000 after purchasing an additional 274 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in Nexstar Media Group by 2,293.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 383 shares of the company's stock worth $69,000 after purchasing an additional 367 shares during the period. First Horizon Advisors Inc. lifted its position in Nexstar Media Group by 62.3% during the first quarter. First Horizon Advisors Inc. now owns 401 shares of the company's stock worth $72,000 after purchasing an additional 154 shares during the period. Finally, Versant Capital Management Inc lifted its position in Nexstar Media Group by 2,126.3% during the first quarter. Versant Capital Management Inc now owns 423 shares of the company's stock worth $76,000 after purchasing an additional 404 shares during the period. Institutional investors own 95.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NXST. Loop Capital upgraded shares of Nexstar Media Group from a "hold" rating to a "buy" rating and boosted their target price for the stock from $190.00 to $200.00 in a report on Friday, February 28th. Wall Street Zen downgraded shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Rosenblatt Securities reiterated a "buy" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Monday, March 10th. Guggenheim upped their price objective on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a "buy" rating in a report on Friday, February 28th. Finally, Barrington Research reiterated an "outperform" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Tuesday, May 13th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $205.71.

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.