Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Blake Russell Sells 507 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) EVP Blake Russell sold 507 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total transaction of $83,781.75. Following the transaction, the executive vice president now directly owns 24,826 shares in the company, valued at $4,102,496.50. The trade was a 2.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Blake Russell also recently made the following trade(s):

• On Wednesday, June 4th, Blake Russell sold 326 shares of Nexstar Media Group stock. The shares were sold at an average price of $167.25, for a total transaction of $54,523.50.
• On Tuesday, May 27th, Blake Russell sold 362 shares of Nexstar Media Group stock. The stock was sold at an average price of $173.59, for a total transaction of $62,839.58.
• On Tuesday, May 20th, Blake Russell sold 424 shares of Nexstar Media Group stock. The shares were sold at an average price of $175.53, for a total value of $74,424.72.

Nexstar Media Group Stock Performance

NXST stock traded up $5.20 during midday trading on Friday, hitting $171.79. 585,722 shares of the company traded hands, compared to its average volume of 386,200. Nexstar Media Group, Inc. has a twelve month low of $141.66 and a twelve month high of $191.86. The stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of 8.70, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 2.86. The business has a 50 day simple moving average of $162.82 and a 200-day simple moving average of $162.02.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings data 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 12.21% and a return on equity of 29.21%. The business 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 firm earned $5.16 EPS. Nexstar Media Group's quarterly revenue was down 3.9% compared to the same quarter last year. As a group, equities research analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend was Monday, May 19th. Nexstar Media Group's dividend payout ratio (DPR) is 37.69%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NXST shares. Benchmark dropped their target price on 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 downgraded Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Guggenheim raised their price objective on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a "buy" rating in a research report on Friday, February 28th. 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 research note on Thursday, May 1st. Finally, Barrington Research restated an "outperform" rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $205.71.

Institutional Investors Weigh In On Nexstar Media Group

Several hedge funds and other institutional investors have recently made changes to their positions in NXST. KLP Kapitalforvaltning AS bought a new stake in Nexstar Media Group during the 4th quarter valued at approximately $1,264,000. Bank of New York Mellon Corp lifted its holdings 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 buying an additional 19,116 shares during the last quarter. Victory Capital Management Inc. lifted its holdings 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 buying an additional 20,140 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Nexstar Media Group by 3.6% in the fourth quarter. Janus Henderson Group PLC now owns 14,074 shares of the company's stock valued at $2,223,000 after acquiring an additional 494 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of Nexstar Media Group by 68.6% in the first quarter. UMB Bank n.a. now owns 536 shares of the company's stock valued at $96,000 after acquiring an additional 218 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

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.