Nexstar Media Group, Inc. (NASDAQ:NXST) Director Sells $339,020.00 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) Director Charles Thomas Mcmillen sold 2,000 shares of Nexstar Media Group stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $169.51, for a total value of $339,020.00. Following the completion of the sale, the director now owns 4,975 shares of the company’s stock, valued at $843,312.25. The trade was a 28.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Charles Thomas Mcmillen also recently made the following trade(s):

• On Thursday, December 26th, Charles Thomas Mcmillen sold 750 shares of Nexstar Media Group stock. The shares were sold at an average price of $159.93, for a total value of $119,947.50.

Nexstar Media Group Price Performance

Shares of NXST stock opened at $177.85 on Friday. Nexstar Media Group, Inc. has a fifty-two week low of $146.04 and a fifty-two week high of $191.86. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 0.45 and a beta of 1.45. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The stock’s 50-day simple moving average is $156.23 and its 200-day simple moving average is $163.70.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Thursday, February 27th. The company reported $7.56 earnings per share for the quarter, missing analysts’ consensus estimates of $9.22 by ($1.66). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.48 billion. As a group, equities analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a dividend of $1.86 per share. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date was Wednesday, February 12th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.18%. Nexstar Media Group’s payout ratio is presently 34.56%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NXST. Loop Capital upgraded Nexstar Media Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $190.00 to $200.00 in a report on Friday, February 28th. Guggenheim lifted their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a report on Friday, February 28th. Benchmark lifted their target price on Nexstar Media Group from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Barrington Research reiterated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Wednesday. Finally, StockNews.com lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $210.29.

Institutional Investors Weigh In On Nexstar Media Group

A number of large investors have recently modified their holdings of the business. TFR Capital LLC. purchased a new stake in shares of Nexstar Media Group during the fourth quarter worth about $254,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Nexstar Media Group in the fourth quarter valued at approximately $6,496,000. Jefferies Financial Group Inc. purchased a new stake in Nexstar Media Group in the fourth quarter valued at approximately $2,086,000. Integrated Advisors Network LLC boosted its position in Nexstar Media Group by 9.6% in the fourth quarter. Integrated Advisors Network LLC now owns 1,461 shares of the company’s stock valued at $231,000 after buying an additional 128 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Nexstar Media Group by 12.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,172 shares of the company’s stock valued at $18,352,000 after buying an additional 12,695 shares during the last quarter. Hedge funds and other institutional investors 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.