Nexstar Media Group, Inc. (NASDAQ:NXST) Director Charles Thomas Mcmillen Sells 750 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) Director Charles Thomas Mcmillen sold 750 shares of the firm’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $159.93, for a total value of $119,947.50. Following the sale, the director now directly owns 6,975 shares of the company’s stock, valued at $1,115,511.75. This represents a 9.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Nexstar Media Group Price Performance

NASDAQ NXST traded down $1.69 during midday trading on Friday, hitting $158.24. The company had a trading volume of 54,419 shares, compared to its average volume of 333,976. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a twelve month low of $147.25 and a twelve month high of $191.86. The company has a market capitalization of $4.91 billion, a PE ratio of 9.15, a P/E/G ratio of 0.20 and a beta of 1.45. The firm has a 50-day moving average price of $168.68 and a 200-day moving average price of $167.33.

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). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the prior year, the business earned $0.70 earnings per share. Nexstar Media Group’s quarterly revenue was up 20.7% compared to the same quarter last year. As a group, analysts anticipate that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend was Friday, November 15th. Nexstar Media Group’s payout ratio is presently 39.10%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Nexstar Media Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Brooklyn Investment Group bought a new stake in shares of Nexstar Media Group during the 3rd quarter worth $25,000. Whittier Trust Co. acquired a new position in Nexstar Media Group during the second quarter worth about $27,000. True Wealth Design LLC bought a new position in shares of Nexstar Media Group in the third quarter worth about $30,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Nexstar Media Group in the 3rd quarter valued at approximately $33,000. Finally, Allspring Global Investments Holdings LLC grew its holdings 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 valued at $44,000 after purchasing an additional 259 shares during the last quarter. 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.