Jay M. Grossman Sells 10,000 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) Director Jay M. Grossman sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $170.70, for a total value of $1,707,000.00. Following the transaction, the director now owns 54,625 shares in the company, valued at $9,324,487.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Nexstar Media Group Stock Down 0.2 %

NXST opened at $167.66 on Friday. The business has a 50 day moving average price of $170.02 and a 200 day moving average price of $165.69. Nexstar Media Group, Inc. has a twelve month low of $132.30 and a twelve month high of $187.27. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78. The firm has a market cap of $5.52 billion, a P/E ratio of 14.18, a price-to-earnings-growth ratio of 0.18 and a beta of 1.50.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $4.48 by ($0.94). Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the firm posted $2.64 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. Research analysts forecast that Nexstar Media Group, Inc. will post 25.72 EPS for the current year.

Nexstar Media Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a dividend of $1.69 per share. The ex-dividend date was Friday, August 9th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.03%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 57.19%.

Institutional Investors Weigh In On Nexstar Media Group

Several hedge funds have recently modified their holdings of the business. Granite Group Advisors LLC boosted its position in shares of Nexstar Media Group by 5.1% in the first quarter. Granite Group Advisors LLC now owns 1,489 shares of the company’s stock valued at $257,000 after acquiring an additional 72 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Nexstar Media Group by 41.1% in the fourth quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock valued at $46,000 after acquiring an additional 86 shares during the period. Klein Pavlis & Peasley Financial Inc. boosted its position in shares of Nexstar Media Group by 0.6% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,903 shares of the company’s stock valued at $2,308,000 after acquiring an additional 87 shares during the period. SummerHaven Investment Management LLC boosted its position in shares of Nexstar Media Group by 2.3% in the second quarter. SummerHaven Investment Management LLC now owns 4,217 shares of the company’s stock valued at $700,000 after acquiring an additional 96 shares during the period. Finally, Retirement Systems of Alabama boosted its position in shares of Nexstar Media Group by 0.3% in the first quarter. Retirement Systems of Alabama now owns 40,479 shares of the company’s stock valued at $6,974,000 after acquiring an additional 107 shares during the period. 95.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NXST. Barrington Research restated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their target price on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Wells Fargo & Company dropped their price target on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Benchmark reaffirmed a “buy” rating and set a $225.00 target price on shares of Nexstar Media Group in a research note on Friday, August 9th. Finally, StockNews.com lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $201.67.

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.