Lee Ann Gliha Sells 330 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) CFO Lee Ann Gliha sold 330 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $158.23, for a total transaction of $52,215.90. Following the sale, the chief financial officer now directly owns 8,610 shares in the company, valued at $1,362,360.30. This represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Nexstar Media Group Stock Up 1.1 %

Shares of NASDAQ:NXST opened at $159.93 on Wednesday. The stock has a 50-day simple moving average of $169.16 and a 200-day simple moving average of $167.44. The stock has a market capitalization of $4.96 billion, a P/E ratio of 9.25, a PEG ratio of 0.20 and a beta of 1.45. Nexstar Media Group, Inc. has a 1 year low of $147.25 and a 1 year high of $191.86. 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 (NASDAQ:NXST) last released 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). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the prior year, the firm earned $0.70 earnings per share. Nexstar Media Group’s quarterly revenue was up 20.7% compared to the same quarter last year. Equities analysts forecast that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $1.69 dividend. This represents a $6.76 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend was Friday, November 15th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 39.10%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NXST. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, November 7th. Benchmark reiterated a “buy” rating and set a $215.00 target price on shares of Nexstar Media Group in a research report on Friday, November 8th. Loop Capital cut Nexstar Media Group from a “buy” rating to a “hold” rating and lowered their price target for the company from $200.00 to $190.00 in a report on Friday, November 8th. Finally, Guggenheim cut their price objective on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a report on Friday, October 4th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and an average target price of $204.29.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NXST. Dimensional Fund Advisors LP raised its holdings in shares of Nexstar Media Group by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock valued at $220,189,000 after buying an additional 62,331 shares during the period. Charles Schwab Investment Management Inc. grew its position in Nexstar Media Group by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company’s stock valued at $179,149,000 after acquiring an additional 7,117 shares in the last quarter. Copeland Capital Management LLC raised its stake in shares of Nexstar Media Group by 18.1% during the third quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock valued at $90,567,000 after purchasing an additional 83,829 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Nexstar Media Group by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 418,815 shares of the company’s stock worth $69,528,000 after purchasing an additional 2,145 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Nexstar Media Group by 72.0% in the second quarter. AQR Capital Management LLC now owns 199,811 shares of the company’s stock valued at $32,769,000 after purchasing an additional 83,637 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

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.