Nexstar Media Group, Inc. (NASDAQ:NXST) Insider Brett Jenkins Sells 4,331 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Brett Jenkins sold 4,331 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $170.64, for a total value of $739,041.84. Following the completion of the sale, the insider now directly owns 25,540 shares in the company, valued at approximately $4,358,145.60. The trade was a 14.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Nexstar Media Group Stock Performance

Shares of NASDAQ NXST opened at $171.15 on Thursday. 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’s 50-day moving average is $169.09 and its 200 day moving average is $167.10. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 9.85, a P/E/G ratio of 0.20 and a beta of 1.48. Nexstar Media Group, Inc. has a 1-year low of $141.38 and a 1-year high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. Nexstar Media Group’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period last year, the firm earned $0.70 earnings per share. On average, sell-side analysts anticipate that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $1.69 dividend. The ex-dividend date is Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a yield of 3.95%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 39.10%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Benchmark reaffirmed a “buy” rating and issued a $215.00 price target on shares of Nexstar Media Group in a report on Friday, November 8th. Wells Fargo & Company lowered their price target on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Guggenheim lowered their price target on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Loop Capital cut Nexstar Media Group from a “buy” rating to a “hold” rating and lowered their price target for the company from $200.00 to $190.00 in a report on Friday, November 8th. Finally, Barrington Research reissued an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Nexstar Media Group has a consensus rating of “Moderate Buy” and an average target price of $198.50.

Hedge Funds Weigh In On Nexstar Media Group

A number of large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in 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 purchasing an additional 62,331 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Nexstar Media Group by 0.7% in the 3rd 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. Copeland Capital Management LLC grew its position in shares of Nexstar Media Group by 18.1% in the 3rd quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock worth $90,567,000 after buying an additional 83,829 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Nexstar Media Group by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 418,815 shares of the company’s stock worth $69,528,000 after buying an additional 2,145 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. grew its position in shares of Nexstar Media Group by 4.7% in the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 201,940 shares of the company’s stock worth $33,524,000 after buying an additional 9,084 shares during 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.