Blake Russell Sells 2,782 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Blake Russell sold 2,782 shares of Nexstar Media Group stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $169.92, for a total transaction of $472,717.44. Following the transaction, the executive vice president now directly owns 22,329 shares in the company, valued at $3,794,143.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Nexstar Media Group Trading Down 0.8 %

NXST opened at $166.40 on Friday. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 0.18 and a beta of 1.49. Nexstar Media Group, Inc. has a one year low of $132.30 and a one year high of $187.27. The business has a 50 day simple moving average of $169.72 and a two-hundred day simple moving average of $165.84. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.78 and a quick ratio of 1.78.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, August 8th. The company reported $3.54 EPS for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.28 billion. Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. Nexstar Media Group’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.64 EPS. Analysts predict that Nexstar Media Group, Inc. will post 25.72 EPS for the current year.

Nexstar Media Group Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NXST. Vanguard Group Inc. lifted its position in Nexstar Media Group by 3.9% during the first quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock valued at $580,689,000 after buying an additional 127,783 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Nexstar Media Group by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock worth $220,189,000 after acquiring an additional 62,331 shares in the last quarter. Capital Research Global Investors purchased a new position in Nexstar Media Group during the 1st quarter valued at about $92,323,000. Point72 Asset Management L.P. boosted its stake in Nexstar Media Group by 392.6% during the fourth quarter. Point72 Asset Management L.P. now owns 450,351 shares of the company’s stock worth $70,593,000 after acquiring an additional 358,920 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Nexstar Media Group by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 418,815 shares of the company’s stock worth $69,528,000 after purchasing an additional 2,145 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

NXST has been the topic of a number of analyst reports. Wells Fargo & Company decreased their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. StockNews.com downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft lowered their target price on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Benchmark restated a “buy” rating and set a $225.00 price target on shares of Nexstar Media Group in a research report on Friday, August 9th. Finally, Barrington Research reiterated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Nexstar Media Group has a consensus rating of “Moderate Buy” and an average price target of $201.67.

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.