Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Blake Russell Sells 424 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Blake Russell sold 424 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $175.53, for a total value of $74,424.72. Following the transaction, the executive vice president now owns 21,895 shares of the company’s stock, valued at approximately $3,843,229.35. This represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Nexstar Media Group Trading Up 0.8%

NASDAQ NXST opened at $175.74 on Wednesday. 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 1-year low of $141.66 and a 1-year high of $191.86. The firm’s fifty day simple moving average is $162.85 and its 200-day simple moving average is $162.11. The company has a market capitalization of $5.36 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 0.45 and a beta of 1.06.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, May 8th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.11. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $5.16 earnings per share. As a group, sell-side analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 4.23%. The ex-dividend date of this dividend is Monday, May 19th. Nexstar Media Group’s payout ratio is 37.69%.

Institutional Trading of Nexstar Media Group

Hedge funds have recently modified their holdings of the company. Pacer Advisors Inc. increased its holdings in shares of Nexstar Media Group by 27,180.2% in the fourth quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company’s stock valued at $190,650,000 after purchasing an additional 1,202,453 shares in the last quarter. Demars Financial Group LLC increased its holdings in shares of Nexstar Media Group by 16,009.5% in the fourth quarter. Demars Financial Group LLC now owns 773,737 shares of the company’s stock valued at $122,227,000 after purchasing an additional 768,934 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Nexstar Media Group by 71,715.8% in the first quarter. Jones Financial Companies Lllp now owns 394,987 shares of the company’s stock valued at $70,790,000 after purchasing an additional 394,437 shares in the last quarter. New Vernon Capital Holdings II LLC acquired a new stake in shares of Nexstar Media Group in the first quarter valued at approximately $60,064,000. Finally, Norges Bank bought a new position in Nexstar Media Group in the fourth quarter valued at approximately $44,460,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analysts Set New Price Targets

NXST has been the subject of a number of research analyst reports. StockNews.com downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Loop Capital upgraded Nexstar Media Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $190.00 to $200.00 in a research report on Friday, February 28th. Benchmark cut their price objective on Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Guggenheim increased their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research report on Monday, March 10th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.71.

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.