Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) Director Dennis J. Fitzsimons sold 2,000 shares of the firm's stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $170.82, for a total transaction of $341,640.00. Following the completion of the transaction, the director now directly owns 12,027 shares in the company, valued at $2,054,452.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Nexstar Media Group Stock Performance
NASDAQ NXST opened at $172.29 on Friday. Nexstar Media Group, Inc. has a 52-week low of $132.30 and a 52-week high of $187.32. The company has a 50-day simple moving average of $168.44 and a 200 day simple moving average of $155.94. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.53 and a current ratio of 1.53. The company has a market capitalization of $5.76 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 0.64 and a beta of 1.51.
Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $3.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.42 by ($1.10). Nexstar Media Group had a return on equity of 14.06% and a net margin of 7.03%. The company had revenue of $1.30 billion for the quarter, compared to analysts' expectations of $1.32 billion. During the same quarter last year, the business posted $8.04 EPS. The business's quarterly revenue was down 12.3% on a year-over-year basis. On average, research analysts predict that Nexstar Media Group, Inc. will post 26.73 EPS for the current year.
Nexstar Media Group Increases Dividend
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The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were paid a $1.69 dividend. This is an increase from Nexstar Media Group's previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.76 annualized dividend and a dividend yield of 3.92%. Nexstar Media Group's dividend payout ratio (DPR) is presently 70.20%.
Hedge Funds Weigh In On Nexstar Media Group
Several large investors have recently modified their holdings of NXST. Brown Brothers Harriman & Co. purchased a new position in shares of Nexstar Media Group in the first quarter worth about $26,000. EverSource Wealth Advisors LLC boosted its position in shares of Nexstar Media Group by 632.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company's stock valued at $32,000 after acquiring an additional 177 shares during the period. First United Bank & Trust bought a new position in shares of Nexstar Media Group in the fourth quarter valued at approximately $33,000. SRS Capital Advisors Inc. boosted its position in shares of Nexstar Media Group by 350.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 239 shares of the company's stock valued at $37,000 after acquiring an additional 186 shares during the period. Finally, OLD Second National Bank of Aurora bought a new position in shares of Nexstar Media Group in the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 95.30% of the company's stock.
Analyst Ratings Changes
A number of research firms have weighed in on NXST. TheStreet raised shares of Nexstar Media Group from a "c+" rating to a "b-" rating in a research note on Thursday, February 1st. Rosenblatt Securities lowered their target price on shares of Nexstar Media Group from $216.00 to $213.00 and set a "buy" rating for the company in a report on Wednesday, March 13th. Citigroup started coverage on shares of Nexstar Media Group in a report on Friday, December 8th. They issued a "neutral" rating and a $158.00 target price for the company. Finally, Barrington Research reiterated an "outperform" rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, March 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Nexstar Media Group has a consensus rating of "Moderate Buy" and a consensus price target of $193.83.
Read Our Latest Analysis on Nexstar Media Group
About Nexstar Media Group
(
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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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