Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Rachel Morgan Sells 329 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Rachel Morgan sold 329 shares of the business’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total value of $54,367.25. Following the completion of the sale, the executive vice president now owns 2,122 shares of the company’s stock, valued at $350,660.50. This trade represents a 13.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Rachel Morgan also recently made the following trade(s):

• On Tuesday, May 27th, Rachel Morgan sold 363 shares of Nexstar Media Group stock. The shares were sold at an average price of $173.59, for a total value of $63,013.17.

Nexstar Media Group Stock Performance

NASDAQ:NXST opened at $165.72 on Wednesday. The stock has a fifty day moving average price of $162.41 and a 200-day moving average price of $162.04. The company has a market cap of $5.06 billion, a price-to-earnings ratio of 8.40, a PEG ratio of 1.24 and a beta of 1.05. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.74 and a current ratio of 1.74. Nexstar Media Group, Inc. has a fifty-two week low of $141.66 and a fifty-two week high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, May 8th. The company reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.11. Nexstar Media Group had a return on equity of 29.21% and a net margin of 12.21%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the company posted $5.16 EPS. The company’s revenue was down 3.9% compared to the same quarter last year. As a group, equities analysts anticipate that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a dividend of $1.86 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.49%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 37.69%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NXST. Wells Fargo & Company reduced their price target on Nexstar Media Group from $216.00 to $200.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Wall Street Zen downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Guggenheim boosted their price target on Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Rosenblatt Securities restated a “buy” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Monday, March 10th. Finally, Benchmark reduced their price target on Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.71.

Hedge Funds Weigh In On Nexstar Media Group

A number of institutional investors have recently modified their holdings of the business. Lynx Investment Advisory acquired a new position in shares of Nexstar Media Group during the 1st quarter worth $311,000. Strs Ohio bought a new position in Nexstar Media Group in the first quarter valued at about $1,222,000. WBI Investments LLC bought a new position in Nexstar Media Group in the first quarter valued at about $268,000. Acadian Asset Management LLC bought a new position in Nexstar Media Group in the first quarter valued at about $654,000. Finally, Geneos Wealth Management Inc. raised its position in Nexstar Media Group by 86.4% in the first quarter. Geneos Wealth Management Inc. now owns 509 shares of the company’s stock valued at $91,000 after purchasing an additional 236 shares during the last quarter. Institutional investors and hedge funds 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.