Nexstar Media Group (NASDAQ:NXST) Reaches New 1-Year High - Here's What Happened

Key Points

• Nexstar Media Group's stock reached a new 52-week high of $192.36 before closing at $190.46, showing solid trading volume.
• Wall Street analysts are optimistic about the company, with an average price target of $205.71 and a majority rating it as a "Moderate Buy."
• The company recently declared a quarterly dividend of $1.86 per share, yielding approximately 3.93% annually, with a payout ratio of 37.69%.

Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as $192.36 and last traded at $190.46, with a volume of 3920 shares trading hands. The stock had previously closed at $191.46.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Barrington Research reissued an "outperform" rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Wednesday. Benchmark reduced their target price on shares of Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company reduced their target price on shares of Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $205.71.

Nexstar Media Group Stock Down 1.6%

The company has a market cap of $5.62 billion, a PE ratio of 9.30, a P/E/G ratio of 1.34 and a beta of 1.04. The company's 50 day moving average is $176.60 and its 200 day moving average is $166.17. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 2.86.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $3.37 EPS for the quarter, topping the consensus estimate of $3.26 by $0.11. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. Nexstar Media Group had a net margin of 12.21% and a return on equity of 29.21%. The firm's revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the firm posted $5.16 EPS. As a group, analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 4.0%. Nexstar Media Group's dividend payout ratio is presently 37.69%.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, insider Sean Compton sold 1,088 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $175.53, for a total transaction of $190,976.64. Following the transaction, the insider directly owned 12,096 shares in the company, valued at $2,123,210.88. This represents a 8.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lee Ann Gliha sold 1,437 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $173.59, for a total transaction of $249,448.83. Following the transaction, the executive vice president owned 10,923 shares in the company, valued at approximately $1,896,123.57. The trade was a 11.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,474 shares of company stock valued at $3,666,988 in the last 90 days. Insiders own 6.70% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its holdings in Nexstar Media Group by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,341,899 shares of the company's stock worth $240,481,000 after acquiring an additional 10,544 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Nexstar Media Group by 3.3% in the 1st 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 boosted its holdings in shares of Nexstar Media Group by 13.6% in the 1st quarter. Demars Financial Group LLC now owns 879,253 shares of the company's stock valued at $157,580,000 after buying an additional 105,516 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Nexstar Media Group by 32.1% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 804,095 shares of the company's stock valued at $144,110,000 after buying an additional 195,574 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings 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 valued at $89,591,000 after buying an additional 36,757 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

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.