Insider Selling: Nexstar Media Group (NASDAQ:NXST) Insider Sells $751,339.68 in Stock

Key Points

• Insider sale: Nexstar Media Group insider Dana Zimmer sold 4,008 shares for $751,339.68, reducing her direct ownership by 69.1% to 1,792 shares. This follows several additional sales since late May.
• Financial performance: NXST shares recently traded at $184.17, while the company’s latest quarterly EPS of $3.61 missed estimates of $5.98 despite revenue rising 62.2% year over year to $1.99 billion.
• Dividend and analyst outlook: Nexstar declared a quarterly dividend of $1.86, implying a 4.0% annual yield, and analysts maintain a “Moderate Buy” consensus with an average price target of $259.

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) insider Dana Zimmer sold 4,008 shares of the business's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $187.46, for a total value of $751,339.68. Following the completion of the sale, the insider directly owned 1,792 shares of the company's stock, valued at $335,928.32. The trade was a 69.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Dana Zimmer also recently made the following trade(s):

• On Tuesday, June 16th, Dana Zimmer sold 876 shares of Nexstar Media Group stock. The stock was sold at an average price of $170.81, for a total value of $149,629.56.
• On Wednesday, June 10th, Dana Zimmer sold 915 shares of Nexstar Media Group stock. The stock was sold at an average price of $176.42, for a total value of $161,424.30.
• On Thursday, June 4th, Dana Zimmer sold 433 shares of Nexstar Media Group stock. The shares were sold at an average price of $182.42, for a total value of $78,987.86.
• On Wednesday, May 27th, Dana Zimmer sold 465 shares of Nexstar Media Group stock. The shares were sold at an average price of $187.32, for a total value of $87,103.80.

Nexstar Media Group Stock Performance

Shares of NXST traded down $5.40 during mid-day trading on Monday, reaching $184.17. 96,688 shares of the company's stock were exchanged, compared to its average volume of 389,729. The company has a debt-to-equity ratio of 5.09, a current ratio of 1.56 and a quick ratio of 1.56. The stock has a market capitalization of $5.67 billion, a PE ratio of 35.20 and a beta of 0.91. The business's fifty day simple moving average is $179.90 and its 200-day simple moving average is $199.86. Nexstar Media Group, Inc. has a 52-week low of $154.47 and a 52-week high of $254.30.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $3.61 EPS for the quarter, missing analysts' consensus estimates of $5.98 by ($2.37). The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.97 billion. Nexstar Media Group had a net margin of 3.20% and a return on equity of 24.02%. The business's revenue was up 62.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.06 earnings per share. On average, equities research analysts expect that Nexstar Media Group, Inc. will post 32.88 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, August 14th. Nexstar Media Group's dividend payout ratio is presently 142.80%.

Wall Street Analyst Weigh In

NXST has been the topic of a number of research reports. Wall Street Zen lowered Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft decreased their price objective on Nexstar Media Group from $270.00 to $255.00 and set a "buy" rating for the company in a research report on Monday, May 11th. Wells Fargo & Company lowered their target price on Nexstar Media Group from $253.00 to $249.00 and set an "overweight" rating on the stock in a research note on Friday, August 7th. Finally, Barrington Research reissued an "outperform" rating and issued a $290.00 target price on shares of Nexstar Media Group in a report on Tuesday, April 28th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $259.00.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new stake in Nexstar Media Group in the second quarter valued at $27,241,000. QVT Financial LP grew its stake in shares of Nexstar Media Group by 200.0% during the 4th quarter. QVT Financial LP now owns 155,281 shares of the company's stock worth $31,530,000 after purchasing an additional 310,562 shares during the period. AQR Capital Management LLC increased its holdings in shares of Nexstar Media Group by 118.1% in the 2nd quarter. AQR Capital Management LLC now owns 543,612 shares of the company's stock valued at $93,795,000 after purchasing an additional 294,308 shares in the last quarter. Norges Bank purchased a new position in shares of Nexstar Media Group in the 4th quarter valued at about $41,474,000. Finally, Alliancebernstein L.P. lifted its stake in shares of Nexstar Media Group by 27.1% in the second quarter. Alliancebernstein L.P. now owns 882,322 shares of the company's stock valued at $152,598,000 after purchasing an additional 187,864 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.

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