Key Points
- Director Charles Thomas Mcmillen sold 1,000 shares of Nexstar Media Group stock on June 9 at an average price of $180 each, for total proceeds of $180,000. After the sale, he still owned 5,658 shares.
- Nexstar shares were trading around $179.57, up 1.1% on the day, with the stock sitting well below its 52-week high of $254.30. The company also has a market capitalization of about $5.48 billion.
- The company recently paid a quarterly dividend of $1.86 per share, equal to an annualized yield of 4.1%. Analysts remain broadly positive, with a consensus rating of “Buy” and an average price target of $259.67.
Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) Director Charles Thomas Mcmillen sold 1,000 shares of the company's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $180.00, for a total value of $180,000.00. Following the sale, the director directly owned 5,658 shares of the company's stock, valued at approximately $1,018,440. This represents a 15.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Nexstar Media Group Trading Up 1.1%
Shares of NASDAQ NXST opened at $179.57 on Wednesday. Nexstar Media Group, Inc. has a 12 month low of $164.00 and a 12 month high of $254.30. The company has a market cap of $5.48 billion, a price-to-earnings ratio of 38.53, a P/E/G ratio of 0.45 and a beta of 0.91. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53. The business has a fifty day simple moving average of $191.60 and a 200-day simple moving average of $207.55.
Nexstar Media Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Friday, May 15th. Nexstar Media Group's dividend payout ratio is currently 159.66%.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of NXST. Torren Management LLC acquired a new position in Nexstar Media Group in the 4th quarter worth about $28,000. Measured Wealth Private Client Group LLC acquired a new position in Nexstar Media Group in the 3rd quarter worth about $28,000. WPG Advisers LLC increased its position in Nexstar Media Group by 65.7% in the 4th quarter. WPG Advisers LLC now owns 179 shares of the company's stock worth $36,000 after purchasing an additional 71 shares during the last quarter. Hantz Financial Services Inc. increased its position in Nexstar Media Group by 164.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 201 shares of the company's stock worth $40,000 after purchasing an additional 125 shares during the last quarter. Finally, State of Wyoming acquired a new position in Nexstar Media Group in the 2nd quarter worth about $54,000. 95.30% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages recently issued reports on NXST. Wall Street Zen raised Nexstar Media Group from a "hold" rating to a "buy" rating in a research note on Saturday, May 16th. Wells Fargo & Company reduced their price objective on Nexstar Media Group from $290.00 to $253.00 and set an "overweight" rating for the company in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft reduced their price objective on Nexstar Media Group from $270.00 to $255.00 and set a "buy" rating for the company in a research note on Monday, May 11th. Citigroup raised Nexstar Media Group from a "neutral" rating to a "buy" rating and reduced their price objective for the stock from $252.00 to $220.00 in a research note on Friday, April 10th. Finally, Barrington Research reissued an "outperform" rating and issued a $290.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Nexstar Media Group has an average rating of "Buy" and a consensus price target of $259.67.
Get Our Latest Stock Analysis on Nexstar Media Group
Nexstar Media Group Company Profile
(
Get Free Report)
Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.
Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.
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