Nexstar Media Group, Inc. (NASDAQ:NXST) Insider Sells $84,277.50 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) insider Gary Weitman sold 510 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $165.25, for a total transaction of $84,277.50. Following the completion of the sale, the insider now owns 8,229 shares of the company's stock, valued at $1,359,842.25. This trade represents a 5.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Gary Weitman also recently made the following trade(s):

• On Wednesday, June 4th, Gary Weitman sold 325 shares of Nexstar Media Group stock. The stock was sold at an average price of $167.25, for a total transaction of $54,356.25.
• On Tuesday, May 27th, Gary Weitman sold 363 shares of Nexstar Media Group stock. The shares were sold at an average price of $173.59, for a total transaction of $63,013.17.
• On Tuesday, May 20th, Gary Weitman 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 Trading Up 3.1%

Shares of Nexstar Media Group stock traded up $5.20 during trading hours on Friday, hitting $171.79. The company's stock had a trading volume of 585,722 shares, compared to its average volume of 386,200. Nexstar Media Group, Inc. has a 1-year low of $141.66 and a 1-year high of $191.86. The company has a market capitalization of $5.24 billion, a PE ratio of 8.70, a P/E/G ratio of 1.22 and a beta of 1.05. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 2.86. The business has a fifty day moving average of $162.82 and a 200 day moving average of $162.02.

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, topping analysts' consensus estimates of $3.26 by $0.11. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. Nexstar Media Group had a return on equity of 29.21% and a net margin of 12.21%. The company's revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $5.16 earnings per share. As a group, equities analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend was Monday, May 19th. Nexstar Media Group's dividend payout ratio is currently 37.69%.

Institutional Investors Weigh In On Nexstar Media Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NXST. SBI Securities Co. Ltd. acquired a new position in Nexstar Media Group during the fourth quarter worth about $25,000. Whipplewood Advisors LLC lifted its holdings in Nexstar Media Group by 830.3% in the 1st quarter. Whipplewood Advisors LLC now owns 307 shares of the company's stock valued at $55,000 after acquiring an additional 274 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Nexstar Media Group by 2,293.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 383 shares of the company's stock valued at $69,000 after purchasing an additional 367 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of Nexstar Media Group by 62.3% in the 1st 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 last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Nexstar Media Group by 2,126.3% in the 1st 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 last quarter. Institutional investors own 95.30% of the company's stock.

Analyst Ratings Changes

NXST has been the subject of a number of research reports. Benchmark cut their target price on shares of Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Wall Street Zen downgraded Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Barrington Research reiterated an "outperform" rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Tuesday, May 13th. Loop Capital raised Nexstar Media Group from a "hold" rating to a "buy" rating and raised their price target for the stock from $190.00 to $200.00 in a research report on Friday, February 28th. Finally, Wells Fargo & Company reduced their price objective on Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus 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.