Insider Selling: Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Sells 526 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Lee Ann Gliha sold 526 shares of the firm’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $167.25, for a total value of $87,973.50. Following the completion of the transaction, the executive vice president now directly owns 11,709 shares of the company’s stock, valued at approximately $1,958,330.25. This trade represents a 4.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Lee Ann Gliha also recently made the following trade(s):

• On Tuesday, May 27th, Lee Ann Gliha sold 1,437 shares of Nexstar Media Group stock. The shares were sold at an average price of $173.59, for a total transaction of $249,448.83.

Nexstar Media Group Stock Up 2.6%

NXST opened at $169.00 on Friday. The firm has a market cap of $5.16 billion, a price-to-earnings ratio of 9.77, a PEG ratio of 0.45 and a beta of 1.06. 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 $160.90 and its 200-day simple moving average is $162.14. Nexstar Media Group, Inc. has a twelve month low of $141.66 and a twelve month high of $191.86.

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

Nexstar Media Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend was Monday, May 19th. Nexstar Media Group’s payout ratio is currently 37.69%.

Analysts Set New Price Targets

A number of research firms have recently commented on NXST. Wall Street Zen downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Wells Fargo & Company dropped their price target on shares of Nexstar Media Group from $216.00 to $200.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Benchmark cut their price target on shares of 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. Loop Capital raised Nexstar Media Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $190.00 to $200.00 in a report on Friday, February 28th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Monday, March 10th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.71.

Institutional Investors Weigh In On Nexstar Media Group

A number of large investors have recently bought and sold shares of the business. Jones Financial Companies Lllp increased its holdings in Nexstar Media Group by 15.3% in 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 during the last quarter. Glassy Mountain Advisors Inc. boosted its holdings in Nexstar Media Group by 0.4% during the first quarter. Glassy Mountain Advisors Inc. now owns 20,497 shares of the company’s stock worth $3,674,000 after buying an additional 73 shares during the last quarter. HighPoint Advisor Group LLC grew its position in shares of Nexstar Media Group by 5.0% during the 1st quarter. HighPoint Advisor Group LLC now owns 1,930 shares of the company’s stock worth $346,000 after buying an additional 92 shares during the period. State of Michigan Retirement System increased its stake in shares of Nexstar Media Group by 1.4% in the 1st quarter. State of Michigan Retirement System now owns 7,000 shares of the company’s stock valued at $1,255,000 after acquiring an additional 100 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in shares of Nexstar Media Group by 1.2% in the 1st quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the company’s stock valued at $1,470,000 after acquiring an additional 100 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

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.