Andrew Alford Sells 3,768 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Andrew Alford sold 3,768 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total transaction of $685,700.64. Following the completion of the sale, the insider now owns 5,405 shares of the company’s stock, valued at approximately $983,601.90. The trade was a 41.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Nexstar Media Group Price Performance

NASDAQ:NXST traded down $0.75 during mid-day trading on Thursday, hitting $182.00. 27,514 shares of the company’s stock traded hands, compared to its average volume of 343,182. Nexstar Media Group, Inc. has a 1 year low of $146.04 and a 1 year high of $191.86. The company has a market cap of $5.55 billion, a PE ratio of 10.53, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47. 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’s 50 day simple moving average is $161.33 and its 200 day simple moving average is $164.39.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.22 by ($1.66). The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. Sell-side analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.09%. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s dividend payout ratio (DPR) is presently 34.56%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on NXST shares. Guggenheim upped their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Loop Capital upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating and increased their price target for the company from $190.00 to $200.00 in a report on Friday, February 28th. Benchmark raised their price objective on shares of Nexstar Media Group from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Rosenblatt Securities restated a “buy” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Monday, March 10th. Finally, Barrington Research reiterated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Wednesday, March 5th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Nexstar Media Group has a consensus rating of “Moderate Buy” and a consensus target price of $208.43.

Institutional Trading of Nexstar Media Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brooklyn Investment Group acquired a new stake in shares of Nexstar Media Group during the 3rd quarter worth about $25,000. SBI Securities Co. Ltd. purchased a new position in shares of Nexstar Media Group during the fourth quarter valued at approximately $25,000. True Wealth Design LLC acquired a new stake in Nexstar Media Group during the third quarter worth approximately $30,000. Wilmington Savings Fund Society FSB acquired a new stake in Nexstar Media Group during the third quarter worth approximately $33,000. Finally, Jones Financial Companies Lllp grew its stake in Nexstar Media Group by 15.3% in the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock worth $87,000 after acquiring an additional 73 shares during the period. Hedge funds and other institutional investors 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.