Nexstar Media Group, Inc. (NASDAQ:NXST) Director Sells $228,610.25 in Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) Director Charles Thomas Mcmillen sold 1,475 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $154.99, for a total transaction of $228,610.25. Following the sale, the director now owns 8,975 shares in the company, valued at approximately $1,391,035.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Charles Thomas Mcmillen also recently made the following trade(s):

• On Tuesday, May 21st, Charles Thomas Mcmillen sold 1,475 shares of Nexstar Media Group stock. The stock was sold at an average price of $166.08, for a total transaction of $244,968.00.

Nexstar Media Group Price Performance

NASDAQ NXST opened at $150.56 on Friday. Nexstar Media Group, Inc. has a 12 month low of $132.30 and a 12 month 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 firm has a market capitalization of $4.94 billion, a PE ratio of 12.74, a P/E/G ratio of 0.55 and a beta of 1.48. The company’s 50 day simple moving average is $162.80 and its 200 day simple moving average is $163.61.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Thursday, May 9th. The company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.28 by $0.88. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the business earned $2.97 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities research analysts forecast that Nexstar Media Group, Inc. will post 27.62 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were paid a dividend of $1.69 per share. The ex-dividend date was Thursday, May 9th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.49%. Nexstar Media Group’s dividend payout ratio is presently 57.19%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NXST shares. 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. Loop Capital upgraded shares of Nexstar Media Group to a “strong-buy” rating in a research note on Friday, May 10th. Wells Fargo & Company upgraded shares of Nexstar Media Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $190.00 to $221.00 in a research note on Monday, May 13th. Barrington Research restated an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, May 9th. Finally, Rosenblatt Securities dropped 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 research note on Wednesday, March 13th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $206.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NXST. Pathstone Family Office LLC bought a new stake in Nexstar Media Group during the third quarter worth approximately $333,000. State of New Jersey Common Pension Fund D boosted its holdings in Nexstar Media Group by 7.4% during the third quarter. State of New Jersey Common Pension Fund D now owns 19,806 shares of the company’s stock worth $2,840,000 after buying an additional 1,369 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Nexstar Media Group by 15.8% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,259 shares of the company’s stock worth $467,000 after buying an additional 445 shares in the last quarter. Rhumbline Advisers boosted its holdings in Nexstar Media Group by 12.2% during the third quarter. Rhumbline Advisers now owns 121,463 shares of the company’s stock worth $17,414,000 after buying an additional 13,253 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Nexstar Media Group by 1.3% during the third quarter. PNC Financial Services Group Inc. now owns 146,087 shares of the company’s stock worth $20,944,000 after buying an additional 1,895 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

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.