Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Blake Russell Sells 433 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Blake Russell sold 433 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $167.43, for a total value of $72,497.19. Following the completion of the sale, the executive vice president now directly owns 25,537 shares in the company, valued at approximately $4,275,659.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Nexstar Media Group Stock Performance

NASDAQ:NXST opened at $162.18 on Wednesday. The firm has a market capitalization of $5.32 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 0.61 and a beta of 1.50. The business’s fifty day moving average price is $166.39 and its 200 day moving average price is $162.53. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.80 and a quick ratio of 1.80. Nexstar Media Group, Inc. has a 12 month low of $132.30 and a 12 month high of $187.32.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Thursday, May 9th. The company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.28 by $0.88. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. Nexstar Media Group had a return on equity of 17.18% and a net margin of 8.29%. Nexstar Media Group’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.97 earnings per share. On average, sell-side analysts anticipate that Nexstar Media Group, Inc. will post 27.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a $1.69 dividend. This represents a $6.76 annualized dividend and a yield of 4.17%. The ex-dividend date is Thursday, May 9th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 57.19%.

Hedge Funds Weigh In On Nexstar Media Group

Several large investors have recently bought and sold shares of the business. Capital Research Global Investors acquired a new position in Nexstar Media Group in the first quarter valued at $92,323,000. Channing Capital Management LLC boosted its stake in Nexstar Media Group by 738.8% in the third quarter. Channing Capital Management LLC now owns 506,212 shares of the company’s stock valued at $72,576,000 after acquiring an additional 445,859 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Nexstar Media Group by 392.6% in the fourth quarter. Point72 Asset Management L.P. now owns 450,351 shares of the company’s stock valued at $70,593,000 after acquiring an additional 358,920 shares in the last quarter. Norges Bank acquired a new position in Nexstar Media Group in the fourth quarter valued at $51,812,000. Finally, Boston Financial Mangement LLC boosted its stake in Nexstar Media Group by 156.5% in the third quarter. Boston Financial Mangement LLC now owns 238,670 shares of the company’s stock valued at $34,218,000 after acquiring an additional 145,617 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NXST. TheStreet raised Nexstar Media Group from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Benchmark reaffirmed a “buy” rating and set a $225.00 price objective on shares of Nexstar Media Group in a research report on Friday, May 10th. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, May 9th. Wells Fargo & Company raised 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 research report on Monday, May 13th. Finally, Loop Capital raised Nexstar Media Group to a “strong-buy” rating in a research report on Friday, May 10th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $206.00.

Nexstar Media Group Company Profile

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.