Charles Thomas Mcmillen Sells 1,000 Shares of Nexstar Media Group (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) Director Charles Thomas Mcmillen sold 1,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $180.00, for a total value of $180,000.00. Following the transaction, the director owned 5,658 shares in the company, valued at approximately $1,018,440. This trade represents a 15.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Nexstar Media Group Stock Down 3.4%

Shares of NXST stock opened at $173.41 on Thursday. Nexstar Media Group, Inc. has a 1-year low of $164.00 and a 1-year high of $254.30. The stock’s fifty day moving average price is $191.36 and its 200 day moving average price is $207.47. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.76 and a quick ratio of 1.76. The company has a market cap of $5.30 billion, a price-to-earnings ratio of 37.21, a price-to-earnings-growth ratio of 0.45 and a beta of 0.91.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 4.3%. The ex-dividend date was Friday, May 15th. Nexstar Media Group’s payout ratio is 159.66%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Wells Fargo & Company reduced their target price on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Weiss Ratings restated a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Barrington Research restated an “outperform” rating and issued a $290.00 target price on shares of Nexstar Media Group in a research note on Tuesday, April 28th. Guggenheim raised their target price on Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Finally, Citigroup upgraded Nexstar Media Group from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $252.00 to $220.00 in a research note on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $259.67.

Institutional Investors Weigh In On Nexstar Media Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NXST. Dorsal Capital Management LP acquired a new stake in Nexstar Media Group during the 3rd quarter worth about $74,152,000. QVT Financial LP grew its position in Nexstar Media Group by 200.0% during the 4th quarter. QVT Financial LP now owns 155,281 shares of the company’s stock worth $31,530,000 after purchasing an additional 310,562 shares during the period. AQR Capital Management LLC grew its position in Nexstar Media Group by 118.1% during the 2nd quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock worth $93,795,000 after purchasing an additional 294,308 shares during the period. JPMorgan Chase & Co. grew its position in Nexstar Media Group by 157.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 374,027 shares of the company’s stock worth $73,960,000 after purchasing an additional 228,603 shares during the period. Finally, Norges Bank acquired a new stake in Nexstar Media Group during the 4th quarter worth about $41,474,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.