Nexstar Media Group, Inc. (NASDAQ:NXST) CEO Sells $5,707,786.65 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) CEO Perry A. Sook sold 35,205 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $162.13, for a total value of $5,707,786.65. Following the sale, the chief executive officer now owns 674,694 shares of the company’s stock, valued at approximately $109,388,138.22. The trade was a 4.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Nexstar Media Group Trading Up 0.9 %

Shares of NASDAQ NXST opened at $158.49 on Friday. Nexstar Media Group, Inc. has a twelve month low of $147.25 and a twelve month high of $191.86. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of 9.17, a P/E/G ratio of 0.20 and a beta of 1.45. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The company’s fifty day moving average is $169.75 and its 200-day moving average is $167.31.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing the consensus estimate of $5.51 by ($0.24). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period in the previous year, the business posted $0.70 EPS. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. Equities research analysts predict that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend was Friday, November 15th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 39.10%.

Analysts Set New Price Targets

NXST has been the subject of several recent research reports. Barrington Research reissued an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, November 7th. Benchmark restated a “buy” rating and issued a $215.00 price objective on shares of Nexstar Media Group in a report on Friday, November 8th. StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Guggenheim dropped their target price on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Finally, Loop Capital lowered Nexstar Media Group from a “buy” rating to a “hold” rating and reduced their price target for the stock from $200.00 to $190.00 in a research report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Nexstar Media Group has a consensus rating of “Moderate Buy” and an average target price of $204.29.

Hedge Funds Weigh In On Nexstar Media Group

Several institutional investors and hedge funds have recently modified their holdings of NXST. Dimensional Fund Advisors LP boosted its holdings in shares of Nexstar Media Group by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock valued at $220,189,000 after buying an additional 62,331 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Nexstar Media Group by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company’s stock valued at $179,149,000 after acquiring an additional 7,117 shares in the last quarter. Copeland Capital Management LLC boosted its stake in Nexstar Media Group by 18.1% in the 3rd quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock worth $90,567,000 after purchasing an additional 83,829 shares during the period. Bank of New York Mellon Corp increased its holdings in Nexstar Media Group by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 418,815 shares of the company’s stock worth $69,528,000 after purchasing an additional 2,145 shares in the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. raised its stake in shares of Nexstar Media Group by 4.7% in the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 201,940 shares of the company’s stock valued at $33,524,000 after purchasing an additional 9,084 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

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.