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

Nexstar Media Group, Inc. (NASDAQ:NXST) CEO Perry A. Sook sold 37,025 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 674,694 shares of the company’s stock, valued at $108,045,497.16. The trade was a 5.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Nexstar Media Group Stock Performance

NASDAQ NXST opened at $159.14 on Friday. The stock has a market cap of $4.94 billion, a PE ratio of 9.20, a P/E/G ratio of 0.20 and a beta of 1.45. Nexstar Media Group, Inc. has a twelve month low of $147.25 and a twelve month high of $191.86. The stock has a fifty day simple moving average of $168.39 and a 200-day simple moving average of $167.37. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, November 7th. The company reported $5.27 earnings per share 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 company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. Nexstar Media Group’s revenue was up 20.7% on a year-over-year basis. Equities analysts anticipate that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 4.25%. The ex-dividend date was Friday, November 15th. Nexstar Media Group’s payout ratio is 39.10%.

Hedge Funds Weigh In On Nexstar Media Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in Nexstar Media Group by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 418,815 shares of the company’s stock valued at $69,528,000 after buying an additional 2,145 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Nexstar Media Group by 3,700.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock worth $44,000 after purchasing an additional 259 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Nexstar Media Group by 6.6% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 31,118 shares of the company’s stock worth $5,166,000 after purchasing an additional 1,938 shares during the period. Whittier Trust Co. acquired a new stake in Nexstar Media Group in the 2nd quarter valued at about $27,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Nexstar Media Group by 5.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,311 shares of the company’s stock valued at $1,214,000 after buying an additional 365 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NXST shares. StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Loop Capital cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating and dropped 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 note on Friday, October 4th. Benchmark restated a “buy” rating and issued a $215.00 price target on shares of Nexstar Media Group in a research report on Friday, November 8th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus 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.