Gary Weitman Sells 432 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Gary Weitman sold 432 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 $72,329.76. Following the transaction, the insider now owns 10,902 shares of the company’s stock, valued at $1,825,321.86. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Nexstar Media Group Trading Down 0.5 %

NXST stock opened at $161.42 on Thursday. Nexstar Media Group, Inc. has a 1-year low of $132.30 and a 1-year high of $187.32. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.80 and a quick ratio of 1.80. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 0.59 and a beta of 1.50. The business has a 50 day simple moving average of $166.23 and a two-hundred day simple moving average of $162.52.

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

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a dividend of $1.69 per share. The ex-dividend date is Thursday, May 9th. This represents a $6.76 annualized dividend and a dividend yield of 4.19%. Nexstar Media Group’s dividend payout ratio (DPR) is 57.19%.

Institutional Trading of Nexstar Media Group

Several hedge funds have recently modified their holdings of NXST. Bahl & Gaynor Inc. raised its holdings in shares of Nexstar Media Group by 7.8% during the 3rd quarter. Bahl & Gaynor Inc. now owns 118,724 shares of the company’s stock worth $17,021,000 after acquiring an additional 8,543 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Nexstar Media Group during the 3rd quarter worth approximately $189,000. Victory Capital Management Inc. raised its holdings in shares of Nexstar Media Group by 6.2% during the 3rd quarter. Victory Capital Management Inc. now owns 11,772 shares of the company’s stock worth $1,688,000 after acquiring an additional 688 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Nexstar Media Group by 5.0% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,608 shares of the company’s stock worth $374,000 after acquiring an additional 124 shares in the last quarter. Finally, Zions Bancorporation N.A. raised its holdings in shares of Nexstar Media Group by 8.4% during the 3rd quarter. Zions Bancorporation N.A. now owns 9,500 shares of the company’s stock worth $1,362,000 after acquiring an additional 733 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NXST. Rosenblatt Securities cut their price objective on 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. Barrington Research reiterated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, May 9th. Wells Fargo & Company upgraded Nexstar Media Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $190.00 to $221.00 in a research note on Monday, May 13th. Benchmark reiterated a “buy” rating and set a $225.00 price objective on shares of Nexstar Media Group in a research note on Friday, May 10th. Finally, Loop Capital upgraded Nexstar Media Group to a “strong-buy” rating in a research note on Friday, May 10th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Nexstar Media Group has a consensus rating of “Moderate Buy” and a consensus target price of $206.00.

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.