Nexstar Media Group (NASDAQ:NXST) Insider Sells $751,339.68 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Dana Zimmer sold 4,008 shares of Nexstar Media Group stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $187.46, for a total value of $751,339.68. Following the sale, the insider directly owned 1,792 shares in the company, valued at approximately $335,928.32. The trade was a 69.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Dana Zimmer also recently made the following trade(s):

• On Tuesday, June 16th, Dana Zimmer sold 876 shares of Nexstar Media Group stock. The stock was sold at an average price of $170.81, for a total value of $149,629.56.
• On Wednesday, June 10th, Dana Zimmer sold 915 shares of Nexstar Media Group stock. The shares were sold at an average price of $176.42, for a total value of $161,424.30.
• On Thursday, June 4th, Dana Zimmer sold 433 shares of Nexstar Media Group stock. The stock was sold at an average price of $182.42, for a total value of $78,987.86.
• On Wednesday, May 27th, Dana Zimmer sold 465 shares of Nexstar Media Group stock. The shares were sold at an average price of $187.32, for a total value of $87,103.80.

Nexstar Media Group Stock Performance

Nexstar Media Group stock opened at $187.37 on Thursday. Nexstar Media Group, Inc. has a 52 week low of $154.47 and a 52 week high of $254.30. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 5.09. The stock has a market cap of $5.77 billion, a P/E ratio of 35.96 and a beta of 0.91. The stock has a 50 day moving average of $180.38 and a 200-day moving average of $199.38.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Thursday, August 6th. The company reported $3.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.98 by ($2.37). Nexstar Media Group had a return on equity of 24.02% and a net margin of 3.20%.The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter last year, the firm posted $3.06 EPS. The firm’s quarterly revenue was up 62.2% on a year-over-year basis. On average, analysts expect that Nexstar Media Group, Inc. will post 32.88 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Friday, August 14th. Nexstar Media Group’s dividend payout ratio is 142.80%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on NXST shares. Weiss Ratings reiterated 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 set a $290.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, April 28th. Zacks Research downgraded Nexstar Media Group from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Wall Street Zen lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a report on Monday, May 11th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $259.00.

Institutional Investors Weigh In On Nexstar Media Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Torren Management LLC bought a new position in shares of Nexstar Media Group during the fourth quarter valued at approximately $28,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Nexstar Media Group in the 3rd quarter worth approximately $28,000. WPG Advisers LLC boosted its position in Nexstar Media Group by 65.7% during the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after purchasing an additional 71 shares during the period. Danske Bank A S acquired a new position in Nexstar Media Group during the 3rd quarter valued at approximately $59,000. Finally, State of Wyoming bought a new position in Nexstar Media Group during the 2nd quarter worth $54,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

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.