Brett Jenkins Sells 4,331 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Brett Jenkins sold 4,331 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $170.64, for a total value of $739,041.84. Following the completion of the sale, the insider now owns 25,540 shares in the company, valued at approximately $4,358,145.60. This represents a 14.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Nexstar Media Group Trading Up 0.5 %

NASDAQ NXST traded up $0.86 during mid-day trading on Monday, reaching $170.61. 329,466 shares of the stock were exchanged, compared to its average volume of 329,774. The stock has a market capitalization of $5.29 billion, a PE ratio of 9.87, a PEG ratio of 0.20 and a beta of 1.48. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. Nexstar Media Group, Inc. has a 1-year low of $141.38 and a 1-year high of $191.86. The business’s fifty day simple moving average is $168.98 and its 200 day simple moving average is $167.16.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.51 by ($0.24). The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. Nexstar Media Group’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.70 EPS. On average, research analysts anticipate that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group’s dividend payout ratio is currently 39.10%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Brooklyn Investment Group purchased a new stake in Nexstar Media Group in the third quarter valued at approximately $25,000. Whittier Trust Co. purchased a new stake in shares of Nexstar Media Group during the 2nd quarter valued at $27,000. True Wealth Design LLC acquired a new stake in shares of Nexstar Media Group during the 3rd quarter worth $30,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Nexstar Media Group in the 3rd quarter worth $33,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Nexstar Media Group by 3,700.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock worth $44,000 after buying an additional 259 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on NXST shares. Benchmark reissued a “buy” rating and issued a $215.00 target price on shares of Nexstar Media Group in a report on Friday, November 8th. Wells Fargo & Company lowered their price objective on shares of 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. Barrington Research restated an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Two investment analysts have 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $198.50.

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.