Insider Selling: Nexstar Media Group, Inc. (NASDAQ:NXST) Insider Sells 510 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) insider Gary Weitman sold 510 shares of the company's stock in a transaction that occurred 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 sale, the insider now directly owns 8,229 shares of the company's stock, valued at approximately $1,359,842.25. This trade represents a 5.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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 stock was 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 Down 2.0%

Shares of NXST stock traded down $3.37 during trading hours on Tuesday, hitting $165.72. 343,756 shares of the company's stock traded hands, compared to its average volume of 385,729. The stock's 50 day simple moving average is $162.28 and its 200 day simple moving average is $162.01. The stock has a market cap of $5.06 billion, a PE ratio of 8.40, a price-to-earnings-growth ratio of 1.24 and a beta of 1.05. Nexstar Media Group, Inc. has a 12 month low of $141.66 and a 12 month high of $191.86. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 2.86.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.11. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. Nexstar Media Group had a net margin of 12.21% and a return on equity of 29.21%. The company's revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $5.16 earnings per share. On average, sell-side analysts anticipate that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 4.49%. The ex-dividend date was Monday, May 19th. Nexstar Media Group's payout ratio is currently 37.69%.

Hedge Funds Weigh In On Nexstar Media Group

Large investors have recently modified their holdings of the business. KLP Kapitalforvaltning AS bought a new position in shares of Nexstar Media Group during the fourth quarter valued at $1,264,000. Bank of New York Mellon Corp increased its position in shares of Nexstar Media Group by 5.0% during the fourth quarter. Bank of New York Mellon Corp now owns 403,728 shares of the company's stock worth $63,777,000 after buying an additional 19,116 shares during the period. Victory Capital Management Inc. increased its position in shares of Nexstar Media Group by 97.9% during the fourth quarter. Victory Capital Management Inc. now owns 40,711 shares of the company's stock worth $6,431,000 after buying an additional 20,140 shares during the period. Janus Henderson Group PLC increased its position in shares of Nexstar Media Group by 3.6% during the fourth quarter. Janus Henderson Group PLC now owns 14,074 shares of the company's stock worth $2,223,000 after buying an additional 494 shares during the period. Finally, UMB Bank n.a. increased its position in shares of Nexstar Media Group by 68.6% during the first quarter. UMB Bank n.a. now owns 536 shares of the company's stock worth $96,000 after buying an additional 218 shares during the period. Institutional investors own 95.30% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NXST shares. Benchmark cut their price target 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. Barrington Research reaffirmed an "outperform" rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Tuesday, May 13th. Guggenheim increased their price objective on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Rosenblatt Securities reissued a "buy" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Monday, March 10th. Finally, Loop Capital raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating and increased their price objective for the company from $190.00 to $200.00 in a research note on Friday, February 28th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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.

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