Insider Selling: Nexstar Media Group, Inc. (NASDAQ:NXST) CFO Sells 330 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) CFO Lee Ann Gliha sold 330 shares of Nexstar Media Group stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $158.23, for a total value of $52,215.90. Following the completion of the transaction, the chief financial officer now owns 8,610 shares in the company, valued at approximately $1,362,360.30. This represents a 3.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST opened at $159.93 on Thursday. 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 $4.96 billion, a P/E ratio of 9.25, a P/E/G ratio of 0.20 and a beta of 1.45. The company’s 50-day moving average is $168.92 and its 200 day moving average is $167.39. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). The firm had revenue of $1.37 billion for 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%. During the same quarter last year, the company posted $0.70 EPS. The firm’s revenue was up 20.7% on a year-over-year basis. On average, sell-side analysts expect that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend was Friday, November 15th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 39.10%.

Institutional Trading of Nexstar Media Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Brooklyn Investment Group bought a new stake in Nexstar Media Group during the third quarter worth about $25,000. Whittier Trust Co. bought a new stake in shares of Nexstar Media Group in the 2nd quarter worth approximately $27,000. True Wealth Design LLC purchased a new stake in shares of Nexstar Media Group in the 3rd quarter worth approximately $30,000. Wilmington Savings Fund Society FSB bought a new position in Nexstar Media Group during the 3rd quarter valued at approximately $33,000. Finally, Allspring Global Investments Holdings LLC raised its stake in Nexstar Media Group by 3,700.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after buying an additional 259 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, November 7th. Guggenheim lowered their price target on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a report on Friday, October 4th. Loop Capital lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating and cut their price target for the stock from $200.00 to $190.00 in a report on Friday, November 8th. Benchmark restated a “buy” rating and issued a $215.00 price objective on shares of Nexstar Media Group in a research report on Friday, November 8th. Finally, StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $204.29.

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.