Nexstar Media Group, Inc. (NASDAQ:NXST) Insider Sells $63,013.17 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) insider Gary Weitman sold 363 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $173.59, for a total value of $63,013.17. Following the completion of the sale, the insider now owns 6,438 shares of the company's stock, valued at approximately $1,117,572.42. This trade represents a 5.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Gary Weitman also recently made the following trade(s):

• On Tuesday, May 20th, Gary Weitman 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.
• On Friday, March 7th, Gary Weitman sold 1,241 shares of Nexstar Media Group stock. The shares were sold at an average price of $177.21, for a total transaction of $219,917.61.

Nexstar Media Group Trading Down 0.3%

NASDAQ:NXST traded down $0.58 on Friday, reaching $169.98. The company's stock had a trading volume of 333,983 shares, compared to its average volume of 391,229. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The business's 50-day moving average price is $162.10 and its two-hundred day moving average price is $162.02. Nexstar Media Group, Inc. has a 1-year low of $141.66 and a 1-year high of $191.86. The firm has a market cap of $5.19 billion, a PE ratio of 9.83, a PEG ratio of 0.45 and a beta of 1.06.

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 for the quarter, topping 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 return on equity of 26.03% and a net margin of 11.39%. Nexstar Media Group's revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.16 earnings per share. Equities research analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently declared 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 yield of 4.38%. The ex-dividend date is Monday, May 19th. Nexstar Media Group's dividend payout ratio (DPR) is currently 37.69%.

Institutional Trading of Nexstar Media Group

A number of hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in Nexstar Media Group by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,341,899 shares of the company's stock valued at $240,481,000 after buying an additional 10,544 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Nexstar Media Group by 3.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,138,064 shares of the company's stock valued at $203,964,000 after buying an additional 35,938 shares in the last quarter. Demars Financial Group LLC grew its holdings in shares of Nexstar Media Group by 13.6% during the first quarter. Demars Financial Group LLC now owns 879,253 shares of the company's stock worth $157,580,000 after purchasing an additional 105,516 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its position in Nexstar Media Group by 32.1% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 804,095 shares of the company's stock worth $144,110,000 after purchasing an additional 195,574 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Nexstar Media Group by 7.9% in the 1st quarter. Northern Trust Corp now owns 499,896 shares of the company's stock worth $89,591,000 after purchasing an additional 36,757 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NXST has been the subject of several research reports. Barrington Research reaffirmed an "outperform" rating and issued a $200.00 target price on shares of Nexstar Media Group in a research report on Tuesday, May 13th. Wall Street Zen downgraded Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Wells Fargo & Company dropped 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. Loop Capital raised Nexstar Media Group from a "hold" rating to a "buy" rating and upped their price target for the company from $190.00 to $200.00 in a research note on Friday, February 28th. Finally, 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 note on Friday, February 28th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.