Insider Selling: Nexstar Media Group, Inc. (NASDAQ:NXST) Director Sells 1,800 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXSTGet Free Report) Director Lisbeth Mcnabb sold 1,800 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $163.62, for a total transaction of $294,516.00. Following the completion of the transaction, the director now owns 10,927 shares of the company’s stock, valued at approximately $1,787,875.74. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Lisbeth Mcnabb also recently made the following trade(s):

  • On Thursday, March 21st, Lisbeth Mcnabb sold 3,175 shares of Nexstar Media Group stock. The shares were sold at an average price of $168.00, for a total transaction of $533,400.00.
  • On Wednesday, March 6th, Lisbeth Mcnabb sold 2,300 shares of Nexstar Media Group stock. The shares were sold at an average price of $165.00, for a total transaction of $379,500.00.

Nexstar Media Group Price Performance

NXST opened at $164.76 on Friday. The company’s 50 day simple moving average is $168.36 and its 200 day simple moving average is $155.03. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.53 and a current ratio of 1.53. Nexstar Media Group, Inc. has a 1 year low of $132.30 and a 1 year high of $187.32. The stock has a market capitalization of $5.51 billion, a PE ratio of 17.11, a P/E/G ratio of 0.63 and a beta of 1.51.

Nexstar Media Group (NASDAQ:NXSTGet Free Report) last released its earnings results on Wednesday, February 28th. The company reported $3.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.42 by ($1.10). Nexstar Media Group had a return on equity of 14.06% and a net margin of 7.03%. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the business posted $8.04 earnings per share. Nexstar Media Group’s revenue was down 12.3% on a year-over-year basis. As a group, sell-side analysts expect that Nexstar Media Group, Inc. will post 26.73 EPS for the current year.

Nexstar Media Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were given a $1.69 dividend. The ex-dividend date was Thursday, February 8th. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.35. This represents a $6.76 annualized dividend and a dividend yield of 4.10%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 70.20%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Citigroup assumed coverage on shares of Nexstar Media Group in a research note on Friday, December 8th. They issued a “neutral” rating and a $158.00 price objective on the stock. Barrington Research reissued an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, March 7th. Rosenblatt Securities lowered their price objective on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. Finally, TheStreet raised shares of Nexstar Media Group from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $193.83.

View Our Latest Stock Analysis on NXST

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Accent Capital Management LLC purchased a new position in Nexstar Media Group in the fourth quarter valued at approximately $235,000. Goldman Sachs Group Inc. raised its holdings in Nexstar Media Group by 2.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 278,714 shares of the company’s stock valued at $43,688,000 after buying an additional 7,514 shares during the period. Chicago Partners Investment Group LLC purchased a new position in Nexstar Media Group in the fourth quarter valued at approximately $232,000. Price T Rowe Associates Inc. MD raised its holdings in Nexstar Media Group by 1.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 435,052 shares of the company’s stock valued at $68,195,000 after buying an additional 4,823 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of Nexstar Media Group by 4.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 6,582 shares of the company’s stock valued at $1,032,000 after purchasing an additional 288 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Company Profile

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for Nexstar Media Group (NASDAQ:NXST)

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