Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) insider Andrew Alford sold 3,768 shares of the business's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.98, for a total transaction of $685,700.64. Following the completion of the sale, the insider now owns 5,405 shares in the company, valued at approximately $983,601.90. This trade represents a 41.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Nexstar Media Group Trading Down 1.8 %
NASDAQ:NXST opened at $179.49 on Friday. The stock's 50-day moving average is $161.89 and its two-hundred day moving average is $164.49. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. The stock has a market cap of $5.48 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47. Nexstar Media Group, Inc. has a fifty-two week low of $146.04 and a fifty-two week high of $191.86.
Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported $7.56 earnings per share for the quarter, missing the consensus estimate of $9.22 by ($1.66). The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. As a group, equities research analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.
Nexstar Media Group Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a dividend of $1.86 per share. This is a positive change from Nexstar Media Group's previous quarterly dividend of $1.69. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.44 annualized dividend and a dividend yield of 4.15%. Nexstar Media Group's dividend payout ratio is 34.56%.
Institutional Investors Weigh In On Nexstar Media Group
Several institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in Nexstar Media Group by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,331,355 shares of the company's stock valued at $210,314,000 after buying an additional 4,704 shares in the last quarter. Pacer Advisors Inc. boosted its position in Nexstar Media Group by 27,180.2% during the fourth quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company's stock worth $190,650,000 after purchasing an additional 1,202,453 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Nexstar Media Group by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,102,126 shares of the company's stock valued at $174,103,000 after purchasing an additional 18,675 shares during the last quarter. Demars Financial Group LLC raised its position in shares of Nexstar Media Group by 16,009.5% in the fourth quarter. Demars Financial Group LLC now owns 773,737 shares of the company's stock valued at $122,227,000 after purchasing an additional 768,934 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Nexstar Media Group by 22.3% during the 4th quarter. Northern Trust Corp now owns 463,139 shares of the company's stock worth $73,162,000 after buying an additional 84,367 shares during the period. Institutional investors and hedge funds own 95.30% of the company's stock.
Analysts Set New Price Targets
A number of analysts recently commented on the stock. StockNews.com downgraded shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Barrington Research reiterated an "outperform" rating and set a $200.00 price objective on shares of Nexstar Media Group in a research report on Wednesday, March 5th. Benchmark lifted their target price on Nexstar Media Group from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Loop Capital raised Nexstar Media Group from a "hold" rating to a "buy" rating and upped their target price for the company from $190.00 to $200.00 in a report on Friday, February 28th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $200.00 price target on shares of Nexstar Media Group in a research report on Monday, March 10th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Nexstar Media Group presently has an average rating of "Moderate Buy" and an average target price of $208.43.
Check Out Our Latest Report on Nexstar Media Group
About Nexstar Media Group
(
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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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