Gary Weitman Sells 430 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST – Get Rating) insider Gary Weitman sold 430 shares of the stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $161.81, for a total value of $69,578.30. Following the sale, the insider now owns 6,427 shares of the company’s stock, valued at $1,039,952.87. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Nexstar Media Group Stock Down 1.7 %

Shares of NASDAQ:NXST opened at $160.30 on Monday. The firm has a fifty day moving average price of $167.92 and a two-hundred day moving average price of $177.57. The company has a debt-to-equity ratio of 2.56, a current ratio of 1.97 and a quick ratio of 1.97. Nexstar Media Group, Inc. has a one year low of $152.29 and a one year high of $217.76. The company has a market cap of $5.75 billion, a price-to-earnings ratio of 7.59, a PEG ratio of 1.38 and a beta of 1.47.

Nexstar Media Group (NASDAQ:NXST – Get Rating) last announced its quarterly earnings results on Tuesday, February 28th. The company reported $8.04 EPS for the quarter, beating the consensus estimate of $7.57 by $0.47. Nexstar Media Group had a net margin of 15.80% and a return on equity of 33.29%. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.51 billion. Analysts anticipate that Nexstar Media Group, Inc. will post 11.58 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 26th. Investors of record on Friday, May 12th will be given a $1.35 dividend. The ex-dividend date is Thursday, May 11th. This represents a $5.40 annualized dividend and a yield of 3.37%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 25.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Barrington Research reissued an “outperform” rating and set a $235.00 price objective on shares of Nexstar Media Group in a research report on Wednesday, March 8th. StockNews.com started coverage on shares of Nexstar Media Group in a research report on Thursday. They set a “hold” rating on the stock. Finally, Benchmark restated a “buy” rating and set a $230.00 price target on shares of Nexstar Media Group in a research note on Monday, February 27th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Nexstar Media Group currently has an average rating of “Moderate Buy” and an average price target of $221.40.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Nexstar Media Group by 0.8% in the first quarter. BlackRock Inc. now owns 3,397,336 shares of the company’s stock worth $586,584,000 after acquiring an additional 27,714 shares in the last quarter. Boston Partners boosted its position in Nexstar Media Group by 27.8% during the fourth quarter. Boston Partners now owns 1,832,816 shares of the company’s stock valued at $323,391,000 after buying an additional 398,397 shares during the period. LSV Asset Management boosted its position in Nexstar Media Group by 9.4% during the fourth quarter. LSV Asset Management now owns 1,309,370 shares of the company’s stock valued at $229,179,000 after buying an additional 112,910 shares during the period. State Street Corp boosted its position in Nexstar Media Group by 0.5% during the first quarter. State Street Corp now owns 1,038,998 shares of the company’s stock valued at $179,393,000 after buying an additional 5,325 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in Nexstar Media Group by 880.8% during the first quarter. Envestnet Asset Management Inc. now owns 945,818 shares of the company’s stock valued at $18,158,000 after buying an additional 849,384 shares during the period. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

About Nexstar Media Group

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Nexstar Media Group, Inc is a television broadcasting and digital media company, which engages in the acquisition, development, and operation of television stations and interactive community websites and digital media services. The firm offers services free over-the-air programming which includes programs produced by networks with which the stations are affiliated, programs that the stations produce, and first-run and rerun syndicated programs that the stations acquire.