Insider Selling: Nexstar Media Group, Inc. (NASDAQ:NXST) Director Sells $405,831.60 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) Director John R. Muse sold 2,385 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $170.16, for a total transaction of $405,831.60. Following the transaction, the director now owns 25,978 shares in the company, valued at $4,420,416.48. The trade was a 8.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Nexstar Media Group Stock Up 0.5 %

NXST stock opened at $171.15 on Thursday. The firm has a market cap of $5.31 billion, a PE ratio of 9.85, a P/E/G ratio of 0.20 and a beta of 1.48. 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 firm’s fifty day moving average is $169.09 and its 200 day moving average is $167.10. Nexstar Media Group, Inc. has a one year low of $141.38 and a one year high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing the consensus estimate of $5.51 by ($0.24). The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.70 EPS. On average, research analysts forecast that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group’s payout ratio is 39.10%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NXST shares. Guggenheim cut their price target on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Benchmark reiterated a “buy” rating and issued a $215.00 price objective on shares of Nexstar Media Group in a research note on Friday, November 8th. Barrington Research reiterated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, November 7th. Finally, Loop Capital lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating and cut their price objective for the stock from $200.00 to $190.00 in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $198.50.

Hedge Funds Weigh In On Nexstar Media Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brooklyn Investment Group purchased a new position in Nexstar Media Group during the third quarter valued at $25,000. Whittier Trust Co. purchased a new position in Nexstar Media Group during the second quarter valued at $27,000. True Wealth Design LLC purchased a new position in Nexstar Media Group during the third quarter valued at $30,000. Wilmington Savings Fund Society FSB purchased a new position in Nexstar Media Group during the third quarter valued at $33,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Nexstar Media Group by 3,700.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after purchasing an additional 259 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other 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.