Nexstar Media Group, Inc. (NASDAQ:NXST) Insider Thomas Carter Sells 5,000 Shares of Stock

Nexstar Media Group, Inc. (NASDAQ:NXST) insider Thomas Carter sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $165.50, for a total value of $827,500.00. Following the transaction, the insider now owns 76,920 shares of the company’s stock, valued at approximately $12,730,260. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Thomas Carter also recently made the following trade(s):

• On Wednesday, June 7th, Thomas Carter sold 10,000 shares of Nexstar Media Group stock. The stock was sold at an average price of $166.25, for a total value of $1,662,500.00.

Nexstar Media Group Stock Down 0.9 %

NASDAQ NXST opened at $140.23 on Wednesday. The stock has a fifty day moving average of $169.09 and a 200-day moving average of $168.69. The stock has a market capitalization of $4.92 billion, a P/E ratio of 7.70, a price-to-earnings-growth ratio of 1.55 and a beta of 1.50. Nexstar Media Group, Inc. has a 52 week low of $140.00 and a 52 week high of $217.76. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.88 and a current ratio of 1.88.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Tuesday, August 8th. The company reported $2.64 EPS for the quarter, missing the consensus estimate of $2.88 by ($0.24). Nexstar Media Group had a net margin of 13.31% and a return on equity of 29.41%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period last year, the business posted $5.56 earnings per share. The firm’s quarterly revenue was down .4% on a year-over-year basis. On average, equities research analysts forecast that Nexstar Media Group, Inc. will post 11.77 EPS for the current year.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th were given a $1.35 dividend. The ex-dividend date was Wednesday, August 9th. This represents a $5.40 annualized dividend and a dividend yield of 3.85%. Nexstar Media Group’s dividend payout ratio is currently 29.65%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. bought a new position in shares of Nexstar Media Group in the 1st quarter worth $26,000. Denali Advisors LLC boosted its position in shares of Nexstar Media Group by 107.0% in the 1st quarter. Denali Advisors LLC now owns 207 shares of the company’s stock worth $36,000 after purchasing an additional 107 shares during the last quarter. Global Retirement Partners LLC boosted its position in shares of Nexstar Media Group by 176.1% in the 1st quarter. Global Retirement Partners LLC now owns 254 shares of the company’s stock worth $42,000 after purchasing an additional 162 shares during the last quarter. Endurance Wealth Management Inc. bought a new position in shares of Nexstar Media Group in the 1st quarter worth $43,000. Finally, IFP Advisors Inc boosted its position in shares of Nexstar Media Group by 19.1% in the 2nd quarter. IFP Advisors Inc now owns 705 shares of the company’s stock worth $47,000 after purchasing an additional 113 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on NXST. Barrington Research restated an “outperform” rating and set a $235.00 target price on shares of Nexstar Media Group in a research report on Tuesday, August 8th. Guggenheim raised their target price on Nexstar Media Group from $216.00 to $220.00 in a research report on Thursday, June 29th. Rosenblatt Securities raised their price target on Nexstar Media Group from $228.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft dropped their price target on Nexstar Media Group from $210.00 to $205.00 and set a “buy” rating for the company in a report on Tuesday, August 15th. Finally, StockNews.com initiated coverage on Nexstar Media Group in a report on Thursday, August 17th. They set a “hold” rating for the company. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $215.83.

About Nexstar Media Group

Nexstar Media Group, Inc, a television broadcasting and digital media company, focuses on the acquisition, development, and operation of television stations and interactive community websites and digital media services in the United States. The company offers free programming to television viewing audiences.