Insider Selling: Nexstar Media Group, Inc. (NASDAQ:NXST) Insider Sells 779 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) insider Andrew Alford sold 779 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $173.59, for a total transaction of $135,226.61. Following the completion of the transaction, the insider now directly owns 8,288 shares in the company, valued at approximately $1,438,713.92. This represents a 8.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Andrew Alford also recently made the following trade(s):

• On Tuesday, May 20th, Andrew Alford sold 838 shares of Nexstar Media Group stock. The stock was sold at an average price of $175.53, for a total value of $147,094.14.
• On Wednesday, March 26th, Andrew Alford sold 3,768 shares of Nexstar Media Group stock. The shares were sold at an average price of $181.98, for a total value of $685,700.64.

Nexstar Media Group Price Performance

Shares of NXST stock traded down $0.58 on Friday, hitting $169.98. 333,983 shares of the company's stock were exchanged, compared to its average volume of 391,229. The company has a 50 day moving average of $162.10 and a 200 day moving average of $162.02. The stock has a market cap of $5.19 billion, a P/E ratio of 9.83, a price-to-earnings-growth ratio of 0.45 and a beta of 1.06. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. Nexstar Media Group, Inc. has a 12 month low of $141.66 and a 12 month high of $191.86.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.11. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the business earned $5.16 earnings per share. The company's revenue for the quarter was down 3.9% compared to the same quarter last year. On average, equities research analysts predict 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 will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be issued a dividend of $1.86 per share. The ex-dividend date is Monday, May 19th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.38%. Nexstar Media Group's dividend payout ratio (DPR) is presently 37.69%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NXST. Loop Capital raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating and boosted their target price for the company from $190.00 to $200.00 in a research report on Friday, February 28th. Wells Fargo & Company dropped their price objective on shares of 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. Benchmark decreased their target price on shares of Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Wall Street Zen cut shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Monday, March 10th. 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $205.71.

Institutional Investors Weigh In On Nexstar Media Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new stake in shares of Nexstar Media Group during the fourth quarter worth $25,000. Whipplewood Advisors LLC boosted its holdings in Nexstar Media Group by 830.3% in the first quarter. Whipplewood Advisors LLC now owns 307 shares of the company's stock worth $55,000 after acquiring an additional 274 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in Nexstar Media Group by 2,293.8% in 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 during the period. First Horizon Advisors Inc. grew its holdings in shares of Nexstar Media Group by 62.3% during the first quarter. First Horizon Advisors Inc. now owns 401 shares of the company's stock valued at $72,000 after buying an additional 154 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in Nexstar Media Group by 2,126.3% during 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 in the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

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.