Insider Selling: Nexstar Media Group, Inc. (NASDAQ:NXST) Director Sells $244,968.00 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) Director Charles Thomas Mcmillen sold 1,475 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $166.08, for a total transaction of $244,968.00. Following the transaction, the director now owns 6,175 shares of the company’s stock, valued at $1,025,544. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Charles Thomas Mcmillen also recently made the following trade(s):

• On Wednesday, March 13th, Charles Thomas Mcmillen sold 1,475 shares of Nexstar Media Group stock. The stock was sold at an average price of $166.00, for a total value of $244,850.00.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST opened at $158.25 on Friday. Nexstar Media Group, Inc. has a 52 week low of $132.30 and a 52 week high of $187.32. The stock has a market cap of $5.20 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 0.57 and a beta of 1.50. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 2.85. The company’s 50-day moving average price is $165.95 and its 200 day moving average price is $162.59.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Thursday, May 9th. The company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.28 by $0.88. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.97 earnings per share. As a group, research analysts forecast that Nexstar Media Group, Inc. will post 27.62 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were paid a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend was Thursday, May 9th. Nexstar Media Group’s dividend payout ratio is currently 57.19%.

Analysts Set New Price Targets

Several research firms recently commented on NXST. Loop Capital raised Nexstar Media Group to a “strong-buy” rating in a report on Friday, May 10th. Barrington Research reissued an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, May 9th. Wells Fargo & Company upgraded shares of Nexstar Media Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $190.00 to $221.00 in a report on Monday, May 13th. TheStreet upgraded Nexstar Media Group from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Finally, Rosenblatt Securities dropped their price target on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.00.

Hedge Funds Weigh In On Nexstar Media Group

Several hedge funds and other institutional investors have recently made changes to their positions in NXST. EverSource Wealth Advisors LLC boosted its holdings in Nexstar Media Group by 632.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock valued at $32,000 after purchasing an additional 177 shares during the last quarter. First United Bank & Trust acquired a new position in Nexstar Media Group during the 4th quarter valued at about $33,000. SRS Capital Advisors Inc. increased its stake in shares of Nexstar Media Group by 350.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 239 shares of the company’s stock valued at $37,000 after acquiring an additional 186 shares during the period. OLD Second National Bank of Aurora bought a new stake in shares of Nexstar Media Group in the 4th quarter worth $45,000. Finally, Quadrant Capital Group LLC grew its holdings in Nexstar Media Group by 41.1% during the fourth quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock worth $46,000 after acquiring an additional 86 shares during the period. 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.