Nexstar Media Group, Inc. (NASDAQ:NXST) Director Sells $332,760.00 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) Director D Geoffrey Armstrong sold 2,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $166.38, for a total transaction of $332,760.00. Following the completion of the transaction, the director now directly owns 7,250 shares in the company, valued at approximately $1,206,255. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Nexstar Media Group Price Performance

Shares of NXST traded up $1.92 during mid-day trading on Tuesday, hitting $168.37. The company’s stock had a trading volume of 147,600 shares, compared to its average volume of 329,520. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.78 and a quick ratio of 1.78. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 0.18 and a beta of 1.50. The firm has a 50-day moving average price of $170.04 and a 200 day moving average price of $165.64. Nexstar Media Group, Inc. has a fifty-two week low of $132.30 and a fifty-two week high of $187.27.

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

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date of this dividend was Friday, August 9th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 57.19%.

Hedge Funds Weigh In On Nexstar Media Group

A number of hedge funds have recently added to or reduced their stakes in the company. Capital Research Global Investors acquired a new stake in shares of Nexstar Media Group in the first quarter worth about $92,323,000. Point72 Asset Management L.P. lifted its holdings in Nexstar Media Group by 392.6% in the 4th quarter. Point72 Asset Management L.P. now owns 450,351 shares of the company’s stock worth $70,593,000 after purchasing an additional 358,920 shares during the last quarter. Norges Bank bought a new stake in Nexstar Media Group during the fourth quarter worth approximately $51,812,000. Vanguard Group Inc. grew its holdings 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 purchasing an additional 127,783 shares during the last quarter. Finally, Payden & Rygel Investment Group bought a new position in shares of Nexstar Media Group in the first quarter valued at approximately $15,144,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on NXST shares. Benchmark reiterated a “buy” rating and set a $225.00 target price on shares of Nexstar Media Group in a research note on Friday, August 9th. Barrington Research restated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, August 8th. Wells Fargo & Company reduced their price objective on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft cut their price objective 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. Finally, StockNews.com cut Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Tuesday. 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 data from MarketBeat.com, Nexstar Media Group has an average rating of “Moderate Buy” and a consensus target price 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.