Insider Selling: Nexstar Media Group, Inc. (NASDAQ:NXST) Insider Sells 610 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) insider Brett Jenkins sold 610 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 $100,802.50. Following the transaction, the insider now directly owns 25,616 shares of the company's stock, valued at approximately $4,233,044. This trade represents a 2.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Brett Jenkins also recently made the following trade(s):

• On Wednesday, June 4th, Brett Jenkins sold 426 shares of Nexstar Media Group stock. The stock was sold at an average price of $167.25, for a total transaction of $71,248.50.
• On Tuesday, May 27th, Brett Jenkins sold 451 shares of Nexstar Media Group stock. The stock was sold at an average price of $173.59, for a total transaction of $78,289.09.
• On Tuesday, May 20th, Brett Jenkins sold 528 shares of Nexstar Media Group stock. The stock was sold at an average price of $175.53, for a total transaction of $92,679.84.

Nexstar Media Group Stock Performance

NXST traded down $3.37 on Tuesday, reaching $165.72. The stock had a trading volume of 343,756 shares, compared to its average volume of 385,729. Nexstar Media Group, Inc. has a 12-month low of $141.66 and a 12-month high of $191.86. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 2.86. The business's 50-day moving average price is $162.28 and its two-hundred day moving average price is $162.01. The company has a market cap of $5.06 billion, a P/E ratio of 8.40, a price-to-earnings-growth ratio of 1.24 and a beta of 1.05.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $3.37 EPS for the quarter, topping analysts' consensus estimates of $3.26 by $0.11. The business 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 12.21% and a return on equity of 29.21%. The company's quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.16 earnings per share. Sell-side analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Monday, May 19th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.49%. Nexstar Media Group's dividend payout ratio is currently 37.69%.

Analysts Set New Price Targets

Several research analysts recently issued reports on NXST shares. Barrington Research reissued an "outperform" rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Tuesday, May 13th. Wells Fargo & Company reduced their target price 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. Guggenheim lifted 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. Rosenblatt Securities reaffirmed a "buy" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Monday, March 10th. Finally, Loop Capital raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating and lifted their price objective for the company from $190.00 to $200.00 in a report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $205.71.

Institutional Trading of Nexstar Media Group

Institutional investors and hedge funds have recently modified their holdings of the stock. KLP Kapitalforvaltning AS purchased a new stake in shares of Nexstar Media Group during the fourth quarter worth about $1,264,000. Bank of New York Mellon Corp increased its stake 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 purchasing an additional 19,116 shares in the last quarter. Victory Capital Management Inc. increased its stake 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 purchasing an additional 20,140 shares in the last quarter. Janus Henderson Group PLC increased its stake 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 purchasing an additional 494 shares in the last quarter. Finally, UMB Bank n.a. increased its stake 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 purchasing an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.