Nexstar Media Group, Inc. (NASDAQ:NXST) Director John R. Muse Sells 365 Shares

Nexstar Media Group, Inc. (NASDAQ:NXSTGet Free Report) Director John R. Muse sold 365 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $160.00, for a total value of $58,400.00. Following the completion of the sale, the director now directly owns 27,613 shares in the company, valued at approximately $4,418,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Nexstar Media Group Price Performance

NXST stock opened at $158.34 on Thursday. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 0.57 and a beta of 1.48. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 2.85. Nexstar Media Group, Inc. has a 52-week low of $132.30 and a 52-week high of $187.32. The stock’s fifty day simple moving average is $165.24 and its 200-day simple moving average is $163.35.

Nexstar Media Group (NASDAQ:NXSTGet Free Report) last issued its quarterly earnings results on Thursday, May 9th. The company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the company earned $2.97 EPS. Equities research analysts expect that Nexstar Media Group, Inc. will post 27.62 EPS for the current year.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were issued a $1.69 dividend. The ex-dividend date was Thursday, May 9th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.27%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 57.19%.

Analyst Ratings Changes

Several research firms recently commented on NXST. Wells Fargo & Company upgraded shares of Nexstar Media Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $190.00 to $221.00 in a research report on Monday, May 13th. Rosenblatt Securities reduced their price target on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Loop Capital raised shares of Nexstar Media Group to a “strong-buy” rating in a research note on Friday, May 10th. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, May 9th. Finally, Benchmark reissued a “buy” rating and set a $225.00 price target on shares of Nexstar Media Group in a research report 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.com, Nexstar Media Group currently has an average rating of “Moderate Buy” and an average target price of $206.00.

Get Our Latest Analysis on NXST

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NXST. Capital Research Global Investors acquired a new position in Nexstar Media Group during the first quarter valued at approximately $92,323,000. Channing Capital Management LLC lifted its holdings in shares of Nexstar Media Group by 738.8% during the 3rd 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 position in Nexstar Media Group by 392.6% during the 4th quarter. Point72 Asset Management L.P. now owns 450,351 shares of the company’s stock worth $70,593,000 after purchasing an additional 358,920 shares during the period. Norges Bank acquired a new stake in Nexstar Media Group in the 4th quarter valued at $51,812,000. Finally, Boston Financial Mangement LLC raised its position 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 purchasing an additional 145,617 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

About Nexstar Media Group

(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.

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

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