Nexstar Media Group, Inc. (NASDAQ:NXST) CEO Sells $2,328,836.92 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) CEO Perry A. Sook sold 12,239 shares of Nexstar Media Group stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $190.28, for a total value of $2,328,836.92. Following the sale, the chief executive officer now directly owns 674,694 shares in the company, valued at $128,380,774.32. The trade was a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Nexstar Media Group Stock Performance

Shares of NXST opened at $166.18 on Friday. The firm’s fifty day simple moving average is $168.61 and its two-hundred day simple moving average is $167.11. Nexstar Media Group, Inc. has a 12 month low of $141.38 and a 12 month high of $191.86. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. The stock has a market capitalization of $5.16 billion, a P/E ratio of 9.61, a price-to-earnings-growth ratio of 0.19 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST) last announced its 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 business had revenue of $1.37 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.70 EPS. As a group, analysts predict that Nexstar Media Group, Inc. will post 25.72 EPS for the current year.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group’s dividend payout ratio (DPR) is 39.10%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. 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 report on Friday, August 9th. Barrington Research restated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, November 7th. Loop Capital lowered Nexstar Media Group from a “buy” rating to a “hold” rating and lowered their target price for the stock from $200.00 to $190.00 in a research report on Friday, November 8th. Finally, Benchmark reiterated a “buy” rating and issued a $215.00 price target on shares of Nexstar Media Group in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $198.50.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. True Wealth Design LLC acquired a new stake in Nexstar Media Group in the third quarter worth $30,000. Verition Fund Management LLC grew its stake in shares of Nexstar Media Group by 25.2% in the 3rd quarter. Verition Fund Management LLC now owns 7,344 shares of the company’s stock valued at $1,214,000 after buying an additional 1,479 shares during the period. Capstone Investment Advisors LLC bought a new stake in Nexstar Media Group in the 3rd quarter valued at about $355,000. Crawford Fund Management LLC raised its stake in Nexstar Media Group by 13.0% during the 3rd quarter. Crawford Fund Management LLC now owns 43,557 shares of the company’s stock worth $7,202,000 after buying an additional 5,000 shares during the period. Finally, FORA Capital LLC bought a new position in Nexstar Media Group in the third quarter worth approximately $712,000. Institutional investors and hedge funds 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.