Short Interest in Nexstar Media Group, Inc. (NASDAQ:NXST) Decreases By 14.8%

Nexstar Media Group, Inc. (NASDAQ:NXST) was the recipient of a significant decline in short interest in March. As of March 31st, there was short interest totalling 1,840,000 shares, a decline of 14.8% from the March 15th total of 2,160,000 shares. Approximately 6.5% of the company’s stock are short sold. Based on an average daily volume of 482,900 shares, the short-interest ratio is presently 3.8 days.

Nexstar Media Group Stock Up 0.2 %

Nexstar Media Group stock opened at $147.50 on Monday. The company has a market capitalization of $4.50 billion, a P/E ratio of 8.53, a PEG ratio of 0.45 and a beta of 1.09. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. Nexstar Media Group has a fifty-two week low of $143.32 and a fifty-two week high of $191.86. The stock has a 50-day simple moving average of $163.42 and a 200-day simple moving average of $163.68.

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

Nexstar Media Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given a dividend of $1.86 per share. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. This represents a $7.44 annualized dividend and a yield of 5.04%. The ex-dividend date was Wednesday, February 12th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 34.56%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Guggenheim lifted 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 note on Friday, February 28th. Benchmark boosted their target price on shares of Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Loop Capital upgraded Nexstar Media Group from a “hold” rating to a “buy” rating and raised their price target for the company from $190.00 to $200.00 in a research note on Friday, February 28th. Barrington Research reiterated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Wednesday, March 5th. Finally, StockNews.com cut Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.43.

Insider Activity at Nexstar Media Group

In related news, insider Andrew Alford sold 3,768 shares of the business’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.98, for a total transaction of $685,700.64. Following the completion of the transaction, the insider now directly owns 5,405 shares of the company’s stock, valued at $983,601.90. The trade was a 41.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Perry A. Sook sold 32,096 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $170.67, for a total value of $5,477,824.32. Following the completion of the sale, the chief executive officer now directly owns 806,019 shares in the company, valued at $137,563,262.73. This represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,105 shares of company stock worth $6,722,463. Corporate insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Nexstar Media Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC increased its position in Nexstar Media Group by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company’s stock valued at $1,073,000 after acquiring an additional 68 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Nexstar Media Group by 15.3% in the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock valued at $87,000 after purchasing an additional 73 shares during the last quarter. Mariner LLC increased its holdings in shares of Nexstar Media Group by 5.3% in 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 during the period. Focus Partners Wealth raised its stake in shares of Nexstar Media Group by 7.3% during the fourth quarter. Focus Partners Wealth now owns 1,726 shares of the company’s stock worth $273,000 after purchasing an additional 117 shares during the last quarter. Finally, Trust Point Inc. lifted its holdings in shares of Nexstar Media Group by 5.4% during the first quarter. Trust Point Inc. now owns 2,334 shares of the company’s stock worth $418,000 after purchasing an additional 119 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

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.