Nexstar Media Group, Inc. (NASDAQ:NXST) COO Michael Biard Sells 2,182 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) COO Michael Biard sold 2,182 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $173.59, for a total transaction of $378,773.38. Following the completion of the transaction, the chief operating officer now owns 7,218 shares of the company's stock, valued at $1,252,972.62. This trade represents a 23.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Nexstar Media Group Trading Down 1.8%

Shares of Nexstar Media Group stock traded down $3.12 on Monday, hitting $167.30. 251,751 shares of the company's stock traded hands, compared to its average volume of 390,484. The firm's 50-day moving average price is $162.10 and its two-hundred day moving average price is $161.96. The stock has a market capitalization of $5.10 billion, a PE ratio of 9.68, a price-to-earnings-growth ratio of 0.45 and a beta of 1.06. Nexstar Media Group, Inc. has a one year low of $141.66 and a one year high of $191.86. 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 (NASDAQ:NXST - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $3.26 by $0.11. The company 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 11.39% and a return on equity of 26.03%. The business's revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.16 EPS. On average, research analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 4.45%. The ex-dividend date of this dividend is Monday, May 19th. Nexstar Media Group's payout ratio is 37.69%.

Institutional Trading of Nexstar Media Group

Institutional investors and hedge funds have recently made changes to their positions in the business. KBC Group NV grew its holdings in shares of Nexstar Media Group by 1,801.8% in the 4th quarter. KBC Group NV now owns 17,230 shares of the company's stock valued at $2,722,000 after buying an additional 16,324 shares during the period. Entropy Technologies LP acquired a new position in shares of Nexstar Media Group in the 4th quarter valued at $506,000. Barclays PLC grew its holdings in shares of Nexstar Media Group by 16.8% in the 3rd quarter. Barclays PLC now owns 45,051 shares of the company's stock valued at $7,448,000 after buying an additional 6,475 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Nexstar Media Group in the 4th quarter valued at $1,264,000. Finally, Empowered Funds LLC grew its holdings in shares of Nexstar Media Group by 13.6% in the 4th quarter. Empowered Funds LLC now owns 25,575 shares of the company's stock valued at $4,040,000 after buying an additional 3,068 shares during the period. Institutional investors own 95.30% of the company's stock.

Wall Street Analysts Forecast Growth

NXST has been the subject of several research analyst reports. 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 report on Thursday, May 1st. Loop Capital upgraded shares of Nexstar Media Group from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $190.00 to $200.00 in a research report on Friday, February 28th. Barrington Research restated an "outperform" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, May 13th. Guggenheim boosted their price objective on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Finally, Wall Street Zen cut shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average 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.