Nexstar Media Group, Inc. (NASDAQ:NXST) Insider Brett Jenkins Sells 610 Shares

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 value of $100,802.50. Following the completion of the transaction, the insider now directly owns 25,616 shares in the company, valued at approximately $4,233,044. This represents a 2.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

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 value 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 value of $78,289.09.
• On Tuesday, May 20th, Brett Jenkins sold 528 shares of Nexstar Media Group stock. The shares were sold at an average price of $175.53, for a total value of $92,679.84.

Nexstar Media Group Price Performance

Shares of Nexstar Media Group stock traded up $5.20 during trading on Friday, reaching $171.79. 585,722 shares of the stock traded hands, compared to its average volume of 386,200. Nexstar Media Group, Inc. has a 52-week low of $141.66 and a 52-week high of $191.86. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.74 and a quick ratio of 1.74. The business has a fifty day simple moving average of $162.82 and a two-hundred day simple moving average of $162.02. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 8.70, a P/E/G ratio of 1.22 and a beta of 1.05.

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 for the quarter, beating the consensus estimate of $3.26 by $0.11. Nexstar Media Group had a return on equity of 29.21% and a net margin of 12.21%. The business had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter last year, the business posted $5.16 EPS. The firm's revenue for the quarter was down 3.9% compared to the same quarter last year. Sell-side analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a $1.86 dividend. 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 (DPR) is presently 37.69%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NXST. Barrington Research reiterated an "outperform" rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Tuesday, May 13th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Monday, March 10th. Benchmark decreased their target price on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Loop Capital raised Nexstar Media Group from a "hold" rating to a "buy" rating and boosted their price target for the stock from $190.00 to $200.00 in a report on Friday, February 28th. Finally, Wells Fargo & Company dropped their price target on Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $205.71.

Institutional Investors Weigh In On Nexstar Media Group

Several large investors have recently bought and sold shares of NXST. Jones Financial Companies Lllp lifted its position in Nexstar Media Group by 15.3% during the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company's stock valued at $87,000 after purchasing an additional 73 shares during the last quarter. Glassy Mountain Advisors Inc. raised its position in shares of Nexstar Media Group by 0.4% during the 1st quarter. Glassy Mountain Advisors Inc. now owns 20,497 shares of the company's stock valued at $3,674,000 after buying an additional 73 shares in the last quarter. HighPoint Advisor Group LLC raised its position in shares of Nexstar Media Group by 5.0% during the 1st quarter. HighPoint Advisor Group LLC now owns 1,930 shares of the company's stock valued at $346,000 after buying an additional 92 shares in the last quarter. State of Michigan Retirement System lifted its holdings in shares of Nexstar Media Group by 1.4% in the 1st quarter. State of Michigan Retirement System now owns 7,000 shares of the company's stock valued at $1,255,000 after acquiring an additional 100 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its position in Nexstar Media Group by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the company's stock worth $1,470,000 after acquiring an additional 100 shares in the last quarter. 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.