Nexstar Media Group, Inc. (NASDAQ:NXST) Director Sells $405,831.60 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) Director John R. Muse sold 2,385 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $170.16, for a total transaction of $405,831.60. Following the sale, the director now owns 25,978 shares in the company, valued at $4,420,416.48. This trade represents a 8.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Nexstar Media Group Trading Down 0.2 %

Shares of NXST opened at $170.29 on Wednesday. The business’s 50-day moving average price is $169.07 and its 200 day moving average price is $167.11. 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 $5.28 billion, a P/E 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 released its earnings results on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing the consensus estimate of $5.51 by ($0.24). The firm 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%. The business’s revenue was up 20.7% on a year-over-year basis. During the same period last year, the business earned $0.70 earnings per share. Analysts expect that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group’s dividend payout ratio (DPR) is currently 39.10%.

Analysts Set New Price Targets

NXST has been the topic of several recent analyst reports. Barrington Research reissued an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft cut their price objective on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a report on Friday, August 9th. 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 report on Friday, November 8th. Benchmark reissued a “buy” rating and issued a $215.00 price target on shares of Nexstar Media Group in a report on Friday, November 8th. Finally, Guggenheim lowered their price objective on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Two equities research analysts have 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 a consensus target price of $198.50.

Institutional Trading of Nexstar Media Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its position in Nexstar Media Group by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock valued at $220,189,000 after buying an additional 62,331 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Nexstar Media Group by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company’s stock valued at $179,149,000 after acquiring an additional 7,117 shares in the last quarter. Copeland Capital Management LLC increased its holdings 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 valued at $90,567,000 after purchasing an additional 83,829 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Nexstar Media Group by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 418,815 shares of the company’s stock worth $69,528,000 after purchasing an additional 2,145 shares in the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. boosted its holdings in shares of Nexstar Media Group by 4.7% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 201,940 shares of the company’s stock worth $33,524,000 after purchasing an additional 9,084 shares during the period. 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.