Nexstar Media Group, Inc. (NASDAQ:NXST) CEO Perry A. Sook Sells 37,025 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) CEO Perry A. Sook sold 37,025 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $160.14, for a total value of $5,929,183.50. Following the completion of the transaction, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at approximately $108,045,497.16. This trade represents a 5.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Nexstar Media Group Trading Down 1.1 %

Nexstar Media Group stock traded down $1.69 during midday trading on Friday, reaching $158.24. The stock had a trading volume of 54,419 shares, compared to its average volume of 333,976. The stock has a market capitalization of $4.91 billion, a PE ratio of 9.15, a price-to-earnings-growth ratio of 0.20 and a beta of 1.45. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The stock’s 50-day simple moving average is $168.68 and its 200 day simple moving average is $167.33. Nexstar Media Group, Inc. has a twelve month low of $147.25 and a twelve month high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the prior year, the business posted $0.70 EPS. The business’s revenue was up 20.7% on a year-over-year basis. Analysts expect that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend was Friday, November 15th. Nexstar Media Group’s payout ratio is 39.10%.

Hedge Funds Weigh In On Nexstar Media Group

A number of institutional investors have recently added to or reduced their stakes in the company. CX Institutional lifted its position in shares of Nexstar Media Group by 5.0% during the third quarter. CX Institutional now owns 1,396 shares of the company’s stock worth $231,000 after purchasing an additional 67 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Nexstar Media Group by 7.3% in the 3rd quarter. Blue Trust Inc. now owns 1,088 shares of the company’s stock worth $181,000 after buying an additional 74 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of Nexstar Media Group by 1.2% in the 3rd quarter. Natixis Advisors LLC now owns 10,185 shares of the company’s stock valued at $1,684,000 after buying an additional 117 shares during the period. Quarry LP grew its position in shares of Nexstar Media Group by 77.8% during the 2nd quarter. Quarry LP now owns 297 shares of the company’s stock valued at $49,000 after buying an additional 130 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in Nexstar Media Group during the third quarter worth about $25,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Loop Capital downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating and reduced their price objective for the company from $200.00 to $190.00 in a research note on Friday, November 8th. Guggenheim decreased their target price on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Benchmark reiterated a “buy” rating and issued a $215.00 price target on shares of Nexstar Media Group in a report on Friday, November 8th. Finally, Barrington Research restated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $204.29.

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.