Nexstar Media Group, Inc. (NASDAQ:NXST) Director Sells $119,947.50 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) Director Charles Thomas Mcmillen sold 750 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $159.93, for a total value of $119,947.50. Following the transaction, the director now owns 6,975 shares of the company’s stock, valued at $1,115,511.75. This trade represents a 9.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Nexstar Media Group Trading Down 0.5 %

Shares of NXST opened at $159.14 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a 1-year low of $147.25 and a 1-year high of $191.86. The stock has a market capitalization of $4.94 billion, a P/E ratio of 9.20, a P/E/G ratio of 0.20 and a beta of 1.45. The business’s 50-day moving average price is $168.39 and its 200 day moving average price is $167.37.

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

Nexstar Media Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $1.69 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $6.76 annualized dividend and a yield of 4.25%. Nexstar Media Group’s payout ratio is 39.10%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Guggenheim lowered their target price 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 Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Benchmark reiterated a “buy” rating and set a $215.00 price target on shares of Nexstar Media Group in a research report on Friday, November 8th. Loop Capital lowered Nexstar Media Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $200.00 to $190.00 in a report on Friday, November 8th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $204.29.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its holdings in Nexstar Media Group by 67.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 26,239 shares of the company’s stock worth $4,339,000 after purchasing an additional 10,603 shares during the last quarter. SGL Investment Advisors Inc. acquired a new stake in shares of Nexstar Media Group during the 3rd quarter worth approximately $3,758,000. Charles Schwab Investment Management Inc. raised its stake in shares of Nexstar Media Group by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company’s stock worth $179,149,000 after buying an additional 7,117 shares during the last quarter. Quest Partners LLC lifted its holdings in Nexstar Media Group by 661.4% in the third quarter. Quest Partners LLC now owns 8,672 shares of the company’s stock valued at $1,434,000 after buying an additional 7,533 shares during the period. Finally, Holocene Advisors LP grew its holdings in Nexstar Media Group by 680.9% during the 3rd quarter. Holocene Advisors LP now owns 17,219 shares of the company’s stock worth $2,847,000 after acquiring an additional 15,014 shares during the period. Institutional investors own 95.30% of the company’s stock.

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.