Gary Weitman Sells 1,241 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Gary Weitman sold 1,241 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $177.21, for a total transaction of $219,917.61. Following the sale, the insider now owns 3,975 shares of the company’s stock, valued at $704,409.75. This trade represents a 23.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Nexstar Media Group Price Performance

Shares of NASDAQ:NXST opened at $177.85 on Friday. 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 firm has a fifty day moving average price of $156.61 and a 200 day moving average price of $163.75. 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 cap of $5.52 billion, a price-to-earnings ratio of 10.29, a P/E/G ratio of 0.45 and a beta of 1.45.

Nexstar Media Group (NASDAQ:NXST) last issued its 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 company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.48 billion. As a group, sell-side analysts expect 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. Investors of record on Wednesday, February 12th were paid a dividend of $1.86 per share. This is an increase 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 yield of 4.18%. Nexstar Media Group’s dividend payout ratio is presently 34.56%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Nexstar Media Group

A number of hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC raised its stake in Nexstar Media Group by 1.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company’s stock valued at $1,073,000 after purchasing an additional 68 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Nexstar Media Group by 15.3% during the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock valued at $87,000 after purchasing an additional 73 shares in the last quarter. Mariner LLC raised its stake in Nexstar Media Group by 5.3% during the fourth quarter. Mariner LLC now owns 2,300 shares of the company’s stock valued at $363,000 after purchasing an additional 115 shares in the last quarter. Natixis Advisors LLC raised its stake in Nexstar Media Group by 1.2% during the third quarter. Natixis Advisors LLC now owns 10,185 shares of the company’s stock valued at $1,684,000 after purchasing an additional 117 shares in the last quarter. Finally, Focus Partners Wealth raised its stake in Nexstar Media Group by 7.3% during the fourth quarter. Focus Partners Wealth now owns 1,726 shares of the company’s stock valued at $273,000 after purchasing an additional 117 shares in 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.