Michael Strober Sells 1,000 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXSTGet Free Report) EVP Michael Strober sold 1,000 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $167.49, for a total value of $167,490.00. Following the completion of the sale, the executive vice president now directly owns 1,076 shares of the company’s stock, valued at $180,219.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Nexstar Media Group Stock Down 1.6 %

NXST stock opened at $164.76 on Friday. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 2.90. The firm has a market capitalization of $5.51 billion, a PE ratio of 17.11, a PEG ratio of 0.63 and a beta of 1.51. Nexstar Media Group, Inc. has a twelve month low of $132.30 and a twelve month high of $187.32. The stock has a 50-day simple moving average of $168.36 and a two-hundred day simple moving average of $155.03.

Nexstar Media Group (NASDAQ:NXSTGet Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $3.32 EPS for the quarter, missing the consensus estimate of $4.42 by ($1.10). The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Nexstar Media Group had a return on equity of 14.06% and a net margin of 7.03%. The firm’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.04 EPS. On average, equities analysts predict that Nexstar Media Group, Inc. will post 26.73 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were given a $1.69 dividend. The ex-dividend date was Thursday, February 8th. This represents a $6.76 annualized dividend and a yield of 4.10%. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.35. Nexstar Media Group’s payout ratio is presently 70.20%.

Institutional Trading of Nexstar Media Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. HighTower Advisors LLC raised its holdings in shares of Nexstar Media Group by 2.9% during the third quarter. HighTower Advisors LLC now owns 190,972 shares of the company’s stock valued at $27,322,000 after acquiring an additional 5,389 shares in the last quarter. Copeland Capital Management LLC lifted its holdings in shares of Nexstar Media Group by 15.3% during the third quarter. Copeland Capital Management LLC now owns 502,639 shares of the company’s stock valued at $72,063,000 after purchasing an additional 66,645 shares in the last quarter. Boston Financial Mangement LLC lifted its holdings in Nexstar Media Group by 156.5% in the third quarter. Boston Financial Mangement LLC now owns 238,670 shares of the company’s stock valued at $34,218,000 after acquiring an additional 145,617 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in Nexstar Media Group by 72.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 12,182 shares of the company’s stock valued at $1,747,000 after acquiring an additional 5,121 shares during the period. Finally, Comerica Bank bought a new position in Nexstar Media Group in the second quarter valued at about $154,760,000. Institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Citigroup assumed coverage on Nexstar Media Group in a research report on Friday, December 8th. They set a “neutral” rating and a $158.00 target price for the company. Barrington Research reaffirmed an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, March 7th. Rosenblatt Securities decreased their target price on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. Finally, TheStreet raised Nexstar Media Group from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.83.

Get Our Latest Stock Analysis on Nexstar Media Group

About Nexstar Media Group

(Get Free Report)

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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