Perry A. Sook Sells 52,808 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) CEO Perry A. Sook sold 52,808 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $157.41, for a total transaction of $8,312,507.28. Following the transaction, the chief executive officer now owns 674,694 shares of the company’s stock, valued at $106,203,582.54. This trade represents a 7.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST opened at $159.93 on Thursday. The stock has a fifty day moving average price of $168.92 and a 200 day moving average price of $167.39. Nexstar Media Group, Inc. has a 1-year low of $147.25 and a 1-year high of $191.86. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. The company has a market cap of $4.96 billion, a PE ratio of 9.25, a P/E/G ratio of 0.20 and a beta of 1.45.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, November 7th. The company reported $5.27 EPS 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 analyst estimates of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The firm’s revenue was up 20.7% on a year-over-year basis. During the same quarter last year, the business posted $0.70 EPS. Sell-side analysts forecast that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.

Nexstar Media Group Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Benchmark restated a “buy” rating and issued a $215.00 price objective on shares of Nexstar Media Group in a research note on Friday, November 8th. Barrington Research restated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, November 7th. Loop Capital cut Nexstar Media Group from a “buy” rating to a “hold” rating and reduced their price objective for the company from $200.00 to $190.00 in a research note on Friday, November 8th. Guggenheim lowered their target price on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Finally, StockNews.com raised 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 assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $204.29.

Hedge Funds Weigh In On Nexstar Media Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brooklyn Investment Group acquired a new stake in shares of Nexstar Media Group in the 3rd quarter valued at approximately $25,000. Whittier Trust Co. purchased a new position in Nexstar Media Group in the second quarter worth $27,000. True Wealth Design LLC acquired a new stake in Nexstar Media Group in the third quarter valued at $30,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Nexstar Media Group during the 3rd quarter worth $33,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Nexstar Media Group by 3,700.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock worth $44,000 after purchasing an additional 259 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

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.