Nexstar Media Group, Inc. (NASDAQ:NXST) Insider Sells $71,248.50 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) insider Brett Jenkins sold 426 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $167.25, for a total value of $71,248.50. Following the completion of the sale, the insider now owns 24,912 shares in the company, valued at $4,166,532. This trade represents a 1.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Brett Jenkins also recently made the following trade(s):

• On Tuesday, May 27th, Brett Jenkins sold 451 shares of Nexstar Media Group stock. The shares were 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 Trading Up 2.6%

Shares of Nexstar Media Group stock traded up $4.29 on Friday, hitting $169.00. 224,880 shares of the company's stock traded hands, compared to its average volume of 389,535. 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. The company has a fifty day moving average of $160.90 and a two-hundred day moving average of $162.14. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 0.45 and a beta of 1.06.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced 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. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the company earned $5.16 EPS. The firm's revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, sell-side analysts expect that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date was Monday, May 19th. Nexstar Media Group's dividend payout ratio (DPR) is currently 37.69%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NXST. Demars Financial Group LLC raised its stake in Nexstar Media Group by 16,009.5% during the 4th quarter. Demars Financial Group LLC now owns 773,737 shares of the company's stock worth $122,227,000 after buying an additional 768,934 shares during the period. Jones Financial Companies Lllp raised its stake in Nexstar Media Group by 71,715.8% during the 1st quarter. Jones Financial Companies Lllp now owns 394,987 shares of the company's stock worth $70,790,000 after buying an additional 394,437 shares during the period. New Vernon Capital Holdings II LLC acquired a new position in Nexstar Media Group during the 1st quarter worth approximately $60,064,000. Norges Bank acquired a new position in Nexstar Media Group during the 4th quarter worth approximately $44,460,000. Finally, Victory Capital Management Inc. raised its stake in Nexstar Media Group by 611.5% during the 1st quarter. Victory Capital Management Inc. now owns 289,668 shares of the company's stock worth $51,914,000 after buying an additional 248,957 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NXST shares. Wall Street Zen lowered Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Benchmark reduced their price target 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. Barrington Research restated an "outperform" rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Tuesday, May 13th. Loop Capital upgraded Nexstar Media Group from a "hold" rating to a "buy" rating and upped their target price for the company from $190.00 to $200.00 in a research report on Friday, February 28th. Finally, Wells Fargo & Company cut their target price on Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $205.71.

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.