Jay M. Grossman Sells 10,000 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) Director Jay M. Grossman sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $170.70, for a total transaction of $1,707,000.00. Following the completion of the sale, the director now owns 54,625 shares in the company, valued at $9,324,487.50. The sale was disclosed in a document filed with the SEC, which is available at this link.

Nexstar Media Group Trading Down 0.8 %

Shares of Nexstar Media Group stock opened at $166.40 on Friday. Nexstar Media Group, Inc. has a 1 year low of $132.30 and a 1 year high of $187.27. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78. The company has a market capitalization of $5.48 billion, a P/E ratio of 14.08, a PEG ratio of 0.18 and a beta of 1.50. The company’s fifty day moving average is $169.72 and its two-hundred day moving average is $165.78.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, August 8th. The company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.48 by ($0.94). Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the business posted $2.64 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Analysts forecast that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend was Friday, August 9th. Nexstar Media Group’s payout ratio is 57.19%.

Analysts Set New Price Targets

NXST has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Barrington Research reiterated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, August 8th. StockNews.com lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Wells Fargo & Company cut their price target on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Finally, Benchmark reiterated a “buy” rating and set a $225.00 price target on shares of Nexstar Media Group in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Nexstar Media Group has a consensus rating of “Moderate Buy” and a consensus target price of $201.67.

Institutional Trading of Nexstar Media Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Whittier Trust Co. purchased a new stake in shares of Nexstar Media Group in the second quarter valued at about $27,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Nexstar Media Group by 632.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock valued at $32,000 after acquiring an additional 177 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Nexstar Media Group by 3,700.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after acquiring an additional 259 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Nexstar Media Group by 41.1% in the fourth quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock valued at $46,000 after acquiring an additional 86 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Nexstar Media Group by 112.2% in the second quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock valued at $49,000 after acquiring an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

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.